ACCOUNTING 5250 Managerial Accounting Case Study- Whale Printing Company This case study is located in the Assignment Section of your Blackboard. You are to analyze: Question 1: - What are the key issues? Answer 1: - An organization should include the 5 M’s of management in order to create value, run the business successfully and efficiently. These 5 M’s include: Money, Materials, Manpower, Machinery, and Methodology. The requirements for production usually represented as capital, labour, and land. Capital covers all man-made aids to future production; fixed capital stays put, and includes the physical plant, buildings, tools and machinery, while circulating capital includes raw materials and components. Labour includes all human …show more content…
The company can increase employee responsibility through delegation. If they are responsible for a task a person is more likely to ensure that it gets done and done well, even more so if the task contributes to a team effort and they can expect to receive recognition for their contribution. Lastly, employees like every other person seek recognition and appreciation. Therefore, they should be appreciated when they perform exuberantly in their jobs. One needs to clearly convey how an employee’s performance contributed to organizational results. By appreciating them, you are motivating them to do better. Monetary rewards in the form of year-end bonuses are also always a great way to improve the morale of the employees. I believe, that Mr.Hussey after considering the above motivational factors, should then take the final decision, as to how the work could be performed in the best possible manner. Question 3: - How is the company REALLY doing financially? Answer 3: - |Particulars |Amount ($) |Amount ($) | |Sales |4,000,000 | | |Direct
As a manager the three motivational methods that should be used would be to provide monetary incentives, employee recognition, and training incentives. Monetary incentives are one method that can be used by a leader or a manager in his or her workplace, these incentives is to reward an employee for his or her outrageous work-related performance. These incentives may include such as profit-sharing within the company, stock options, performance bonuses, and scheduled bonuses. These different types of monetary incentives can increase the motivation of its workers and can lead to more productive, less absenteeism, and may improve one’s quality of service. Monetary incentives when awarded to one employee may also be a morale booster can also encourage other workers to improve his or her work performance, and maintain a healthy, friendly, positive work environment. A healthy workplace is a product of a successful and productive work environment. Working in this kind of economy, monetary incentives is the excellent method to use. However, these incentives may persuade others and may not to some; the result will be the same, increased quality work
In this paper, the definition and description of what a case study is, what are some reasons for using a case study, what are some disadvantages and advantages of this approach? Also included in this paper I will talk about what are some of the ways a researcher can acquire information that can is used for a case study. A case study can be defined as a descriptive account of the behavior, history, and other relevant factors concerning a particular individual (Cozby, Bates, 2012).
Delegation is widely acknowledged to be an essential element of effective management (Yukl, G. 1994). Delegation is basically a process of assigning responsibility, sharing authority, and producing accountability in organizations. It is a managerial instrument that allows managers to nurture subordinates to capitalize the subordinate’s potential and ability to meet organizational goals and objectives. As a form of employee involvement in decision-making, delegation describes a category of leader behavior that entails assignment of new responsibilities to subordinates and additional authority to carry them out (Yukl, G. 1998). Managers usually find it easier to speak about delegation of
The paper will begin with a Review of the Research. This section will summarize all the information gathered for this paper. Here the background will be given and the foundation laid for the rest of the report. Next will be the Application of the Research. This is
Recognizing employees for accomplishments such as finishing a major project, reaching sales targets or providing excellent customer service can be an important motivating factor. Set goals for workers to strive for and offer rewards for reaching them. This could be in the form of an employee of the month scheme, a bonus, or a promotion. Some companies conduct meetings where employees are recognised for good work in front of their colleagues. This can help motivate all the workers in the business to strive for success.
The case study will form the basis of three individual assignments that are to be completed at various points in the course.
These two Case Studies come from a National Center on Case Studies. I think that a case study approach is very useful in applying knowledge and this is what makes you learn it better. They may be a little daunting when you read them but I will help you go through them. Please ask for help so this topic becomes more enjoyable for you.
Please answer the questions posed at the end of each case study in essay form. Each essay will be judged on your capacity to present strong, logical discussions that support your conclusions.
Define the Problem: Describe the type of case and what problem(s) or issue(s) should be the focus for your analysis.
It is very important to learn how to motivate employees, employees are one of the most important tools for any business, they are the ones that have a direct contact with customers. As we go over the chapter we learn that in order to motivate employees’ money is not the best option. We can motivate employee make the feel valuable, understanding their personal needs, thank them for their job performances, recognizing their improvements, respect them, etc. If an employee is happy at his job environment their performance will be the best, and management doesn’t have to be over them all the
This paper will attempt to show what skills are necessary for effective delegation, and how the managers of the author 's organization uses delegation in his or her management responsibilities. The paper will also attempt to show how delegation could be used more effectively within the four functions of management in that same organization. Through delegation managers combine task responsibilities and the authority needed to carry out tasks in the organization. The author will also discuss some advantages of delegation as well as the issue of poor delegation.
The main operating activities of the Nick Scali Limited were finding the supplying source and retailing household furniture and related appliances, accessories.
The last and final thing Alexander says the employer should do is “use positive reinforcement” (Alexander, 2013). Alexander says that employers should reward their employees when they do well (Alexander, 2013). Alexander says that when an employee is rewarded, it helps employees in the future when they need to feel motivated and give them that extra push to do well (Alexander, 2013). On the other hand, Alexander says that when employees don’t acknowledge their employee’s successes, employees are more likely to become
Students will receive a Case Note on which to base their case analysis in response to the questions below. You will find it useful, if you do not have exposure to the case method, to review “How to Write a Case-Based Essay” [by William Ellet - provided].
The preliminary step to boost my employee’s attitude and morale is recognition. Respecting each employee as well as equal treatment will heighten morale. In Chapter 12, Adams states that employees are motivated to see fairness in the rewards they expect for task performance. Also mentioned in Chapter 12, I will encourage the Reinforcement Theory. Good behavior, attitude and ideas will be rewarded (positive reinforcement). In order to reward behavior of employees, the goals and quotas needed to be met will be clearly defined.