Discussions for you dmwas
Response-80 word
- Describe some of the most significant benefits of Pay for Performance System? Some of the main benefits of having a pay for performance system in the case of the Sulphur Spring teachers is allowing teachers to get an incentive for their hard work and at the same time is a good way for the students to get extra attention and better learning opportunities.
- Pay for Performance also has its list of challenges. Discuss the main areas of concern with the implementation of a Pay for Performance System. Some of the challenges that the merit pay performance system has is that although it allows teachers to feel motivated there’s not an proven method that shows that there is a proper procedure to follow and it could be taken as unfair by some teachers, during this weeks reading we learn that incentives methods should be fair and that employees should feel that they are able to meet the expectations and in some cases specially when it comes to education, it could be hard for some teachers to meet their goals because they might have a really good group of students willing to learn or a difficult class whuch brings a lot more challenges.
Response-80 word
I think the most significant benefits of pay for performance, according to the video, is it serves to make an improvement in the function and proficiency of the students which is the ultimate goal. It attracts good teachers who are willing and able to accept the challenge and serves as an added incentive to succeed. It also serves the needs of the school to provide a more successful and creative approach to teaching. This type action would be considered incentive pay where it meets the organization’s needs, the employee feels they can meet the standards, the resources are supplied and the employee believe the reward is fair (Gerhart, 2009).
The main two concerns of the pay for performance, in the case of the video, is its hard to administer fairly and can create ill will among the teachers. It can also create competition among the students which is not good. Also, if it is not measurable, what will be the long term option to maintain the same level of effectiveness or to even build upon that success? How long can that same amount of bonus be maintained or does it just become a standard practice?
The negative aspect is it can drive the employee to focus only on what is required to receive the reward. Where one area may improve another area may suffer and that level of expectancy will not be maintained according to the standards set forth. (Gerhart, 2009).
Be blessed
Helen
Reference
Gerhart, Hollenbeck, Noe, & Wright. (2009). Recognizing Employee Contributions with Pay. In
Fundamentals of human resource management (5th Ed.). Boston: McGraw-Hill/Irwin.
200 word
Pricing Products and/or Services
This week you are reviewing setting pricing based on break-even analysis, pricing strategies, and credit policies as they affect your small business and the people with whom you do business. You reviewed all of these concepts in both your Reading and practiced with these concepts in your Learning Activity. Now you have a chance to apply them to the business you are developing throughout this course.
For the product or service you will be offering in your business, please perform a break even analysis for three services, or three products.
Checklist:
- Provide your breakeven point for all 3 (services or products).
- Then discuss how this analysis affects how you price the service or product.
200 word
Target Market — The External Environment
The external environment can greatly affect your marketing efforts. Typically the external factors considered are the Threats and Opportunities. In your Learning Activity this week, you addressed the SWOT Analysis. This type of analysis considers both the internal and external factors affecting the marketing effort.
Another type of analysis examines the external environment more specifically, the PEST analysis.
Fill in the PEST table ( Political, Economic, Social, and Technology) after doing some research for your chosen company to include some aspects of the external environment which will affect your marketing plan.
Then discuss with classmates (you do not have to share your actual completed table) the external environment factors (threats and opportunities) that will impact your company product or service the most and why.
Checklist:
- Do research on each of the PEST components.
- Fill in the table Threats and Opportunities columns.
- Discuss which threats and opportunities will affect your business the most and why.
- Address each of the 4 major PEST components in the left hand column in your response.
200 word
Discussion
Learning to create advertising, promotional literature, and graphic depictions of ideas is a handy skill to have in many professions. It can help sell an idea to management in a presentation, promote your product or service to a specific audience, or illustrate an idea or concept to fellow colleagues at work. You will get some practice using your creativity now while implementing what you learned this week regarding a target market.
Checklist:
- Create a short display advertisement in a Microsoft Word document and attach it to your posting to share it with classmates, and include a short explanation of who your target market is.2. Based on your classmates’ ads and target market, vote for your favorite ad. Explain why, justifying your vote by how the student addressed their ad to the target market.
Helpful hints: You can use the Insert tab at the top of a Microsoft Office Word document to insert a shape by clicking on “Shapes” and then double clicking on the shape you inserted and then click on the Format – then “shape fill” to add a different color. You can add a text box if you want by clicking your shape you added again and then the Insert tab and then on Text box. Or you can click on Clip art to help you insert a picture.
200 word
Projecting your Profits and Losses
Please make sure you have had sufficient review time in the Learning Activity this week in order to better understand the concepts you will use in both this Discussion and in the Assignment.
What questions do financial ratios help answer about a firm’s financial performance? What ratios might be of more interest to certain stakeholders and why?
200 word
Financing and Credit:
In the beginning of a business, and over time, you may need to borrow money for a short time (revolving credit or short term loans), or a long time (a mortgage, or an equipment loan, for example).
- Given your profit and loss projection from last week, do you anticipate needing to borrow money for any reason? Keep in mind the seasonality of your company. You might make a lot of money in the winter, and have essentially no business in the summer — think of how that is true for a ski resort, for example.
- If you foresee having to use someone else’s money, how do you anticipate getting that? Discuss using both debt and equity financing. Also think about how you can use other people’s money (like suppliers). Be sure to address any bootstrapping measures you might take.
- Even if you plan to keep your business small, imagine what you would need to do if you wanted to grow. This exercise requires you to use your imagination. The only wrong answer for these discussion purposes will be if you state you do not need money now and never will. Even if that is true, imagine what you would do if you needed it.
