Employee Motivation and Business Strategies: A Case Study
Paper 1
1. (a)
(i) Hourly Wage Rate Definition
By hourly wage rate, we mean that employees are paid according to the amount of hours that they spend working. By high, we mean that employees are paid significant amounts of money, or that the wages are higher than in other companies.
(ii) Impact of Piece Rate on Employees and Mr. Singh’s Business
His employees: It will benefit them since the money they earn will be more closely associated with their effort, which gives them an opportunity to work faster
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Active Operations of Credit Institutions
The active operations of credit institutions involve providing resources to customers who agree to return those resources plus interest. Any operational assets are reflected in a contract. The most common active operations are operations of commercial discounts, loans, and credits. Other operations include bank guarantees.
The discounted cash settlement is used to calculate the total operating cost of a discount. The total cost of the settlement consists of
Read MoreEffective Negotiation Strategies and Decision-Making in Management
Negotiations: A Means of Resolving Conflict
Negotiations are a process in which a decision is taken jointly by two or more parties. These parties first express their conflicting demands, then try to reach an agreement through the implementation of concessions and the search for alternative solutions.
The aim of negotiation is to reach the best deal, not just any agreement. Characteristics of the negotiation process are:
- Existence of a conflict of interest that will be resolved through verbal interaction.
Service Sector: Characteristics, Types, and Operations
1.1 Service Sector
- Clark-Fisher Model: 5 stages (extractive, production, first services, trade services, social services)
- Riddle Model
1.2 Competitiveness
Levels: Countries, sectors, companies.
1.3 Productivity
Efficiency: Technical, economic.
1.4 Evolution in the Service Sector
- Technology (electronic services)
- Population changes
- Competence, rivalry
Key Characteristics of Services
2.1 Intangibility
2.2 Inseparability
2.3 Heterogeneity
2.4 Expiration (Perishable Nature)
Types of Services: Business Classifications
3.
Read MoreSocial Security Benefits: Eligibility and Types
C. Paternity.
The Equality Act recognizes paid leave for employed persons, freelancers, and members of other special schemes for the Social Security. It provides 13 days of uninterrupted leave, expandable to two or more days per child after the 2nd or 26th day if you enjoy part-time.
D. Temporary Disability (TD).
This applies to workers who are unable to work and need healthcare. To be eligible for sickness benefits, it is usually necessary to have contributed for 180 days in the 5 years prior to the
Read MoreBusiness Finance and Investment Strategies
Funding Sources for Your Business
Budget
A numeric plan to allocate resources to specific activities.
Loan
A contract by which one person or entity (borrower) receives money from another (lender) on the condition of returning it within a pre-established time and under specific conditions.
Leasing
A contract agreed upon between the company and a leasing company through which the leasing company acquires an asset in its name and rents it to the user company. This includes the value that the company will
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