Reference no: EM132639191 , Length: Word count: 500
Assignment: Evaluations, Compensation, and Firm Objectives
The following Course Outcomes are assessed in this Assignment:
Question 1: Explain how companies link compensation and evaluation to organizational objectives.
Question 2: Demonstrate college-level communication through the composition of original materials in Standard English.
Introduction:
A company's mission, vision, and values must be aligned with the company strategy. Then each of the functional areas of the company have their own strategies that align with the overall company strategy. In this Assignment you will explain how a company can link their compensation and performance evaluations to the organization's innovation objectives. Read the case study below, and respond to all the checklist items.
Case Study: Evaluations, Compensation, and Firm Objectives
- Braintrust Toys is a toy maker that has as its mission, "Our purpose is to expand the minds of children 1 month-100 years old." Currently they use a product development strategy but believe that maybe they need to orient their company towards an innovative strategy.
Their current objectives are to:
- Invent 10 new toys every year and reinvent at least 10 more.
- Increase revenues by 15% per year.
- Employ motivated and committed workers.
- Provide safe and intellect-expanding toys for everyone.
- Braintrust Toys has operated as a medium-sized company for about 20 years. Their compensation to date has been based on longevity at the company. The evaluations were performed by their managers after reviewing their results based on their influence on: (1) increased department product output (75%), and (2) increased department sales (25%) at the end of the year. With the increasingly mechanized and digitized toys, and now robotics involved in toy making, many employees have been let go or offered early retirement due to their obsolescence.
The new objectives in line with the new innovation strategy include:
- Enhance attributes and convenience in at least 20 existing products.
- Launch at least 15 new products that appeal to new customers and new markets.
- Develop 5 new markets.
- Hire personnel that think innovatively.
- Hire diverse support personnel and designers who are customer service oriented to support new products and markets.
- The 200 remaining employees are beginning to worry, and feel their compensation and evaluation process needs an overhaul.
Question 2: Explain how Braintrust can link their compensation and evaluations to the company's new objectives and innovation strategy.
Question 3: What methods of performance evaluation might they use?
Question 4: Explain your reasoning for using the methods of evaluation you chose.
Submit your minimum 2-page (i.e., 500-word) expository essay in APA format
What adjustments to the pricing strategy would recommend
: What adjustments to the pricing strategy (or product strategy) would you recommend in relation to the product or service that failed to provide good value?
|
Find out goodwill by capitalization method
: Average Capital employed is Rs. 3,80,000. Normal rate of return is 10%p.a. Find out goodwill by capitalization method
|
Corporate it security audit compliance
: Discuss this statement: Effective communication of the results is vital to prevent any misunderstanding".
|
Prepare Journal Entries and General Ledger
: PURCHASE FOODS FOR $71000.00 - Prepare Journal Entries, General Ledger, trial balance Income Statement and Balance Sheet
|
How braintrust can link the compensation
: Evaluations, Explain how Braintrust can link their compensation and evaluations to the company's new objectives and innovation strategy.
|
What FOOT PRINTING
: What "FOOTPRINTING" (or digital reconnaissance) is and how you would go about gathering the information you need to determine the location of a recently
|
Security measures for good database
: Considering the importance of data in an organization, it is absolutely essential to secure the data present in the database.
|
Advise the Capital Gain Tax Consequences
: Advise the Capital Gain Tax Consequences for the above transactions, please have a look at the matrix below on how to answer the question
|
Establishment of federal-state and local government laws
: What are the issues and root causes that necessitate the enactment and/or establishment of Federal, state, and local government laws,
|