Provide a proposed overall salary-benefits solution

Assignment Help Managerial Accounting
Reference no: EM133216380

Artificial Intelligence Medical (AIM) Inc. is a very profitable new company. Although it has only been in business for 2 years, it has already doubled the size of its workforce and quadrupled its profits. The CEO/founder has stepped aside recently in favor of a new CEO in the wake of employees' frustration and social media messages about the benefits inequity and lack of motivation for teams at the company. The new CEO wants to change the way executive salaries are determined and find ways to motivate the project teams. The project teams typically are assigned to an artificial intelligence product, such as a robot that performs routine surgeries or diagnostic software used by different medical units of a hospital for patient diagnosis. The employees all work out of the main offices in Charlotte, North Carolina. The new CEO has tasked your team of employees with determining a general proposed solution to the inequity in pay/benefits at the company and to address the lack of motivation for the 125 technicians and medical staff that work in project teams of 25 employees each. Each technician or staff member receives a salary of $45,000 per year, while the CEO and vice presidents (VPs) receive $500,000 per year (the CEO also holds 10% of the company stock), and the managers receive $65,000 per year. There are a CEO, 2 VPs (manufacturing and finance), a marketing manager, a sales/customer service manager, and a technical support manager. They currently outsource the human resources function.

Provide a proposed overall salary/benefits solution and provide your team's reasoning. Support the solution with a short citation from each of the two scholarly* articles

Please work on this question, I am having great difficulty with this question.

Reference no: EM133216380

Questions Cloud

Explain the sales-general admin cost : The Beach Side Hotel, is a resort hotel is in Cape May, New Jersey. For the hotel, management expects occupancy rates to be 70% in December, January, February a
Neo bank detecting fraud : Fraud is causing banks and their customers to suffer losses
Explain the budgeting process : The chair of the budget committee at your company, Richard Jones, has come to you, the CFO, to discuss improvements to the budgeting process for the company.
Compare value against the face value of the bond : Compare this value against the face value of the bond and write your comment to explain the difference. if any. (Use max 100 words for the explanation].
Provide a proposed overall salary-benefits solution : Artificial Intelligence Medical (AIM) Inc. is a very profitable new company. Although it has only been in business for 2 years, it has already doubled the size
Payroll processing functions : Consider a business whose payroll processing functions are poorly organized, poorly performed, and perpetually late. Management suggests that the company choose
What is the profile of the target market : Tiny Paws is a BC based Canadian, eco-friendly, and sustainable pet clothing and accessories production. Tiny Paws is a small batch manufacturer from a 32-year
Average target cost for an evening gown : 1) During the year, Newark Boat Yard has incurred manufacturing costs of $250,000 in building three large sailboats. At year-end, each boat is about 60 percent
Present value of the net working capital changes : Lourdes Adventure Products is considering a project which will require the purchase of $1.4 million in new equipment. The equipment belongs in a 20% CCA class.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Compute the net present value of the new machine

The old equipment has a book value of $100,000. However, it can be sold for only $20,000 if it is replaced. Compute the net present value of the new machine

  Explain the concept of total landed cost

Question - Explain the concept of total landed cost as it relates to transportation. How does it influence market boundaries

  Prepare the adjusting entry for each company at december

At December 31, Prepare the adjusting entry for each company at December 31, assuming the adjustment is made to cost of goods sold.

  What were the three most challenging concepts presented

What were the three most challenging concepts presented? What do you think were the three most interesting managerial accounting concepts we covered over the past 5 weeks?

  What are some of the big budget issues today

Two-thirds said their budgets would become obsolete.What are some of the big budget issues today which are effecting the budgeting of individuals or companies?

  Prepare the operating activities section

Using the following income statement and additional year-end information. Prepare the operating activities section

  Write down an asset to its real value each accounting period

Write down an asset to its real value each accounting period allocating the cost of an asset to expense over its useful life in a rational and systematic manner

  Which reflect potentially irrelevant information in decision

He is considering adding various hockey equipment product lines. Which of the following reflect potentially irrelevant information in this decision?

  Which is not true for dbc for the month

Month were $290,000 while conversion costs during the month totaled $353,200. Which is not true for DBC for the month, using the average cost method?

  What amount of net income

Astoria Co. had the following transactions during the month of August 2014:

  Did the business incur a net loss or realize net income

A business had revenues of $430,000 and operating expenses of $615,000. Did the business (a) incur a net loss or (b) realize net income

  Determine what is the materials quantity variance for month

What is the materials quantity variance for the month? The data pertain to operations concerning the product for the last month.

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