<u>Explanation</u>:
Note that, the human resource department role includes managing employees engagement because it is vital for achievement of the organization goals.
For instance, the theory of motives and needs believes that managers must ensure that all employees are fully engaged or passionate about their jobs.
<u>This theory therefore asserts that employee motivations is increased if they are involved and interested in the tasks that inspires them.</u>
Answer: Option (v) is correct
Explanation:
Given that,
Natcher Corporation collects,
35% of a month's sales in the month of sale
40% in the month following sale
20% in the second month following sale
5% of their sales are noncollectable
Budgeted sales are:
August budgeted sales = $250,000
September budgeted sales = $350,000
October budgeted sales = $390,000
November budgeted sales = $230,000
Amount of cash collected in November is budgeted:
= 35% of November sale + 40% of October sale + 20% of September sale
= 35% of $230,000 + 40% of $390,000 + 20% of $350,000
= $80,500 + $156,000 + $70,000
= $306,500
If the Federal Reserve did not regulate monetary policy, monitor banks, and provide services for banks, then the transactions would be more costly and interest rates will be more.
The Federal Reserve (Fed) in the US manages the economic and financial system in US. It regulate the monetary policy, monitor banks and provide services for banks. They monitor banks so that there will be no more increases in the costs of transactions than the cost agreed by the Fed. Also it will also reduce the possibility of increase in interest rates as the monetary policy is also implemented by the Fed. As a head of the banks, the Federal Reserve also provide services to other banks. In short, the Fed keeps the US economy stable. If they did not regulate monetary policy, monitor banks, and provide services for banks, then it would have been hard to keep this economic stability in US.
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Answer:
The Balanced Scorecard for Management Control
Dana's company can deploy the Balanced Scorecard as a strategic management control approach which views organizational performance from four broad perspectives that are all-embracing. These perspectives include the Financial Perspective, the Customer Perspective, the Internal Business-Process Perspective, and the Learning and Growth Perspective. The aim is to ensure that control is not just about one aspect of the organization, but the whole, and a balance is struck by paying equal attention to the elements that make up an organization.
According to a well-known adage, "what you measure is what you get." The BSC approach strategically and holistically measures an organization's performance by identifying all the factors that cause improved organizational outcomes. Therefore, the benefits of using a balanced scorecard include improved internal capacity created by a focus on improving an organization's learning and growth through the Learning and Growth perspective. This cascades to improved internal processes which result from the internal perspective. With improved processes, customers and other stakeholders derive better and maximum satisfaction from the organization. This does not end here. Satisfied customers cause improved financial results, which are distributed to an organization's stakeholders, including the government in form of taxation, dividends for stockholders, and better pay for employees, etc. These stakeholders in turn try to add value to the organization with better processes and operations, improved financing, and business opportunities.
Looking at the value package of BSC, I agree with Dana that the BSC approach is better than using only financial controls alone. While financial controls are at the very core of resource management and operational efficiency in any organization, they do not represent the whole picture of management control. They are the endgames and not the starting strategies for a winning organization.
Explanation:
The Balanced Scorecard (BSC) utilizes a 360 degree approach to achieve effective control of resources toward attaining goals by viewing organizational performance from four broad perspectives, which cover all aspects of any organization. The four perspectives that BSC uses are the Financial Perspective, the Customer Perspective, the Internal Business- Process Perspective, and the Learning and Growth Perspective. By approaching performance evaluation and management with these perspectives, the Balanced Scorecard is able to achieve all-round management control because no aspect of the organization is left behind.
