Eddie's company is using a forced ranking performance review system.
<h3>
What is forced ranking?</h3>
- Forced ranking, the contentious practice of grading employees against one another rather than against performance criteria, is all the rage in corporate America.
- Employees are evaluated from best to worst depending on their performance in a system known as forced ranking.
- This system can be used to find top talent, assist managers in identifying individuals who require growth, and give a framework for granting incentives and promotions.
- This not only makes staff feel unmotivated and disengaged, but also fosters unneeded internal competition, which can be harmful to synergy, creativity, and innovation and divert attention away from marketplace fulfillment.
Therefore, Eddie's company is using a forced ranking performance review system.
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The correct question is given below:
Eddie was surprised to learn that not everyone would receive a bonus this year. Instead, management planned to rank all of the employees in Eddie's division and award bonuses only to the top 20 percent in terms of sales. Eddie's company is using a(n) ______ performance review system.
Answer: 16.08%
Explanation:
The effective annual interest rate simply means the interest rate on a loan that is restated from nominal interest rate.
In the above question, we are informed that it uses 15.00% as the nominal annual rate make monthly payments.
Effective annual rate = (1 + r/m)^m - 1
where,
r = annual nominal interest rate
m = number of compounding periods for the year.
In this case m= 12 since there are 12 months in a year.
The answer has been attached.
Answer:
b. establishing goals, roles, and requirements
Explanation:
This will go a long way tonenhance performance. Goals formation will give a sense of direction for the employees. Assigning Roles makes them responsible for an action
Answer: Option (A). The total liabilities will be overstated.
Explanation: Total liabilities are the aggregate debt and financial obligations owed by a business to individuals and organizations at any specific period of time. Total liabilities are reported on a company's balance sheet and are a component of the general accounting equation. In this scenario, Assuming the company initially recorded a liability, then the total liabilities will be overstated.
Answer:
a. What is the monthly margin generated by a new membership (don’t include training)?
$78, since there are no variable costs
d. What is the total CLV for a new member?
the average purchase value = $78 + (15% of customers x 30/26 sessions per month x 50% earnings x $40 per session) = $78 + $3.46 = $81.46
the average purchase frequency = 1 per month
average customer value = $81.46 / 1 = $81.46
average customer lifespan = 26 months
customer lifetime value = average customer value x average customer lifespan = $81.46 x 26 = $2,118
b. What is the CLV to WACI on the membership component?
$78 x 26 = $2,028
c. What is the CLV of the personal training component for a member who chooses to hire a trainer?
$3.46 x 26 = $89.96
e. What would be the net value of implementing a program that doubled the likelihood that a person would hire a personal trainer?
$3.46 per customer, same as the CLV of the personal training component
