Develop a detailed performance appraisal plan

Assignment Help Finance Basics
Reference no: EM132631282

Yennefer of vengerberg the only daughter of Witcher Laundry Inc. Witcher Laundry is a clothes drying, pressing and cleaning organization with several brancher. When Yennefer inherited her father's business, she was surprised to discover that her father had not formally evaluated any employee's performance for all the years that he had owned the business. His father Voldemort's position was that he had "a hundred higher-priority things to attend to," such as boosting sales and lowering costs, and, in any case, many employees didn't stick around long enough to be appraisable anyway. Furthermore, contended Voldemort, manual workers such as those doing the pressing and the cleaning did periodically get positive feedback in terms of praise from Voldemort for a job well done, or criticism, also from Voldemort, if things did not look right during one of his swings through the stores. Similarly, Voldemort was never shy about telling his managers about store problems so that they, too, got some feedback on where they

This informal feedback notwithstanding, Yennefer believes that a more formal appraisal approach is required. She believes that there are criteria such as quality, quantity, attendance, and punctuality that should be evaluated periodically even if a worker is paid on piece rate. Furthermore, she feels quite strongly that the managers need to have a list of quality standards for matters such as store cleanliness, efficiency, safety, and adherence to budget on which they know they are to be formally evaluated.

Q1: Develop a detailed performance appraisal plan for the managers at Witcher Laundry.

Reference no: EM132631282

Questions Cloud

Prepare the necessary journal entries for the years : Prepare the necessary journal entries for the years ending 30 June 2020 and 30 June 2021 to record the depreciation
Evaluate the four traits of organizational learning : Evaluate the four traits of organizational learning. Provide examples of how learning and change can impact one another.
Review article - fidelity of implementing embedded formative : Review this article - On the Fidelity of Implementing Embedded Formative Assessments and Its Relation to Student Learning
What are central assumptions of positive accounting theory : What are the central assumptions of Positive Accounting Theory (PAT)? Under PAT, do you believe that professional accountants are objective
Develop a detailed performance appraisal plan : Q1: Develop a detailed performance appraisal plan for the managers at Witcher Laundry.
Developing a theory of effective management techniques : Exploring parent stories about helping their students with computing homework or Developing a theory of effective management techniques in a computer lab.
Compute the proposed investments net present value : Compute the proposed investments net present value and indicate whether the investment should be made by Madeline Company.
Possible challenges and opportunities of cloud-based : Also, explain the possible challenges and opportunities of the cloud-based solution in the custom T-shirt business.
Compute the cash payback period for diamond company : Compute the cash payback period for Diamond Company. Diamond Company is considering investing in new equipment that will cost $600,000

Reviews

Write a Review

Finance Basics Questions & Answers

  Diversification among mutual funds

Diversification among Mutual Funds : - Explain why diversification across different types of mutual funds is highly recommended.

  Looking for a bibliography of james c hunter

Looking for a bibliography of James C Hunter, the author of The Servant: A Simple Story About the True Essence of Leadership it will need to be at least 2 pages, apa format, 12pt font,

  From the information below compute the average annual

1 from the information below compute the average annual return the variance standard deviation and coefficient of

  U.s. and japanese government bond rates

Compare one year U.S. and Japanese government bond rates. What do these imply about the likely direction of change in the yen to dollar exchange rate?

  What is the payback period

A project has an initial cost of $2,250.00. The cash inflows are $0,$500,$900, and $700 for years 1 to 4, respectively. What is the payback period?

  Determining the borrowing costs

A MNC has been looking at borrowing in the international debt markets. It notices that the current 30-day London interbank offer rate is 4.3%

  Compute the annual interest payments under each plan

Construct two alternative financing plans for the firm. One of the plans should be conservative, with 80 percent of assets financed by long-term sources.

  Complete the balance sheet

Ratio Analysis Use the following information to complete the balance sheet below.  Hint: use 365 day calendar.

  Explain discussion of all horizontal and vertical analysis

Discussion of the ratio analysis results, including rationale for the ratios chosen. Discussion of all horizontal and vertical analysis from above.

  Calculate the lump sum you need to have accumulated

You wish to be able to withdraw $55,000 every year. Calculate the lump sum you need to have accumulated at age 65 to be able to draw the desired income

  Value of net income available to common stockholders

Calculate the 2015 value of net income available to common stockholders for Jake's Jamming Music, Inc.

  Comparing the change in loan repayment rate

Assume Avarice Corporation, a U.S. based MNC, obtains a one-year loan of 1,500,000 Malaysian Ringgit (MYR), at a nominal interest rate of 7%.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd