Business question Essay Example | Topics and Well Written Essays - 500 words

Business question - Essay Example It is a time as such when profits are used to meet such unfavorable difficulties in business. Profits have the effect of increasing business volume-profit retention is generally the internal source of capital. This can be utilized for increasing business volumes through diversification and expansion. Thus the portion of profits business is ploughed back for future and further development. The following people could be interested in profits for the business; shareholders need more profits since they expect higher returns in form of dividend. Employees too are entitled to profits in terms of bonuses and increased pay perks, since they contributed to the same. 2. A government regulates businesses for public welfare and safety so as to avoid malpractices by greedy investors. The second reason is so as to protect the industry and ensure security and protection of those who operate their business correctly. Regulation will ensure there are proper inspections by the government to weed out criminal or undesirable practices, licensing and proper permits. Third reason for regulation is revenue generation-businesses pay for licenses and certificates so as to operate. This creates revenue for the government. The advantages for regulation include protection of the society from unscrupulous business people who could harm citizens. It also ensures there is healthy competition leading to lower prices for goods and services. Regulation is disadvantageous because consumers could be charged more for commodities and services due to taxation and increased cost of doing business. 3. A business should be as efficient as possible so as to reduce wastages and maximize its profits. An efficient business uses fewer inputs and produces more outputs, thus increasing its profits and value to the shareholders and also its competitiveness in the market. The

Case Study in Compensation and Benefits Example | Topics and Well Written Essays - 500 words

In Compensation and Benefits - Case Study Example While my primary role will be to inform them about the salary alignment process, their views and propositions will be taken into consideration to bring sex equality, rationalization of salaries and bolster the team spirit that is necessary for Acme’s triumph. In the first place, the company got into this ghastly situation due to erroneous preconceived notions, underestimation of the female workers and a startling ignorance in job appraisal. As the president, George significantly contributed to Acme’s present problem firstly by believing that women had working husbands hence did not require huge salaries, and also be awarding pay increment based on his association with an employee evident through the personal bargains common during his regime. The HR director too held the preconceived notion that the female employees should be paid less since they supervise less skilled and proficient employees as compared to their male counterparts. The local culture exceedingly swayed the compensation process. Whether the spouse is salaried or not is not part of the professional compensation plan, but in Acme, the management allowed such a preconceived notion to drive the company into problems. Moreover, considering the sheer fact that the company was formed 35 years ago when underestimation of women was the norm, and Acme was small, it is likely that only men were employed. When it eventually started hiring women, they had meager professional experience, and as the equal pay rights were implemented, George overlooked the idea of increasing women’s salaries while he increased men’s salaries. Acme’s current problem is also attributable to its defective job evaluation process. Job evaluation allows the organization to determine the worth of a job basing decisions of skills, competency and experience. The process was ineffectual and failed to pinpoint weaknesses