Compensation Plans Targeting Incentives Essay - 570 Words

Incentive based compensation plans are one of the most conversed topics organizations that have been dealing with for quite some time. There have been several philosophies, formulas, and plans used but in the end, each type of plan has created unfavorable and optimistic results. The questions have always been whether the positive that comes from incentives plans are worth the challenges they create. In examining some of the plans that offer individuals, team based, and long-term incentives, they all vary in different ways that they are applicable, administered and designed, and beneficial to the organization’s objectives. Individual Plan The Balanced scorecard plan could be a feasible option for an individual plan for a General Manager for†¦show more content†¦Team Plan The team plan for Bosch Rexroth Customer Services Representatives (CSR) have conditions ideal for a cash profit sharing plan. The CSR teams long-term team of employees that have a stake in the company’s success and the group have very little turnover in the positions. The employees at times harbor resentment with each because the phone systems are not properly setup so that everyone is covering the phone with customers and able to perform other duties. They are frontline employees who interact with the costumer daily, which adds value to the organization. They process and place orders for the customers, plan shipping dates, and act as a point of contact for all ordering for company. The cash profit sharing plan can promote strong customer focus and reinforce the company goals. This plan has the potential to maintain limited turnover, increase productivity but expand knowledge and create a team environment. The plan can function to create best practices from associates, often e mployees have creative ideals and innovations that go undeveloped, and under this plan, they can earn compensation for them, which will also promote creativity. Long-Term Incentive Plan Long-term incentives promote organizational growth over an extended period of time and direct employee performance that helps facilitate this growth. Its purpose is to influence employee behavior that is conducive with establishing tenure, accountability, and an ownership mentality. TheShow MoreRelatedArck Systems Case Analysis Essay1295 Words   |  6 Pagesissues that arose with different compensation packages for each company’s sales team. In my analysis, I will address the intended and unintended consequences of incentive compensation plans. Finally, I will offer my recommendations to Arck Systems. Background Arck Systems Arck Systems was a medium-sized manufacturer of network computers used by many corporations to manage data. Customers used the serves to run software that helped them manage finances, compensation benefits and customer accountsRead MoreBarilla SpA1447 Words   |  6 Pagesinstead provide us the demand information from the retail store locations. Using the data from the retail store orders, we can determine the optimum schedule upon which to base our production and distribution plans. This will eliminate demand fluctuation and the current lack of ability to plan. We will determine the replenishment orders for the distributors, offering them an additional value added service and minimizing stock outs. The benefits of the JITD system include reduced manufacturing costsRead MoreAnalysis Of Mary Kay And Kay Ash1262 Words   |  6 Pagesproducts and earn compensation for recruiting members from the corporation and not the recruits themselves. That approach makes the company a legitimate multilevel marketing organization, and SaaS marketers, salespeople and organizations can learn a great deal from Mary Kay s operating methods. Top Strategies Your SaaS Staff Can Borrow from Mary Kay Mary Kay developed effective sales techniques by using group pressure, social selling, multilevel marketing models, special incentives and freedom toRead MoreCms Policies Push Alternative Medicare Payment Models900 Words   |  4 Pages1) CMS policies push alternative Medicare payment models CMS has launched many new bundled payment plans which extend the hospital’s responsibility for care and cost outside of the inpatient stay itself. However, hospitals have been reluctant to sign on for down-side risk. They are risk-averse due to their lack of experience, knowledge, and capabilities that would enable them to successfully own the cost of their population, and this is a gap that Medtronic can address. This fundamental transformationRead MoreIssues Regarding Corporate Governance Of Companies1502 Words   |  7 Pagesbranch of governance is the extent to which executives gain compensation. This may or may not reflect their performance or be within the best interests of their shareholders; who are the owners of the company. Since the formation of the limited company, whereby management is separated from ownership an agency problem has emerged, as executives and other directors’ aims may not be in line with shareholders’ interests. Different compensation schemes may more effectively tie in an executives motivesRead MoreHuman Resource Management : Final Project1545 Words   |  7 Pagescompetitive with other employers. Some of the more common competitive factors are things like salary, bonus programs, paid time off, 401k, health insurance including vision and dental plans. It’s important to be in the same ballpark as other competitors in a similar market when it comes to these types of benefit and compensation packages. Other equally important factors in attracting talent are being able to offer employees a healthy work life balance as well as a career development program. According toRead MoreBe Own Products And Services1416 Words   |  6 Pagesits own products and services to enhance the total compensation for its employees. Bean maintained a philosophy that if the employees were passionate about the company and the outdoors, then the customers would also be. Profit sharing with employees was a foundational belief of Bean, and employees were greatly rewarded when the company performed and exceeded expectations. A few of the products and services that Bean used to enhance total compensation for employees included profit sharing, employee discountsRead MoreMarketing Plan: Channels of Distribution1430 Words   |  6 PagesMarketing Plan Channels of Distribution The basic channels of distribution will involve selling the i Phone 5 using online and traditional approaches. This means that there will be a sales force, which will market the product through to different segments of consumers. For example, one possible strategy is for the company to mirror the approach that they are using in North America. This is when Apple will sign selling agreements with different carriers and retail outlets (such as electronicsRead MoreMarketing Analysis : Adidas Group1347 Words   |  6 Pagesstatement of Adidas Group states that the company identifies as its strongest consumer market the 20- to 29-year-old age group, who are involved with sports somehow; either athletes or people that just enjoy doing sports. Also, Adidas is focused on targeting and strengthening its brand with the next generation of athletes in the 14- to 19-year-old age group because this group may be considered as one of the most influential consumer group in the market. Now, as was previously stated, Adidas has a strongRead MoreCompensating Sales Force6663 Words   |  27 PagesCOMPENSATING SALES FORCE Sales is one of the few jobs where you earn your money – every day. COMPENSATION IS MORE THAN MONEY Any type of sales organization can reward sales performance in three fundamental and interrelated ways: 1. Direct financial rewards. 2. Career advancement and personal development opportunities. 3. Nonfinancial compensation. Why is it important? †¢ Sales activities are the life blood of most business †¢ Most misunderstood aspects of running a business †¢ Tricky

empiricism Essay - 1554 Words

Empiricism Empiricism by nature is the belief that there is no knowledge without experience. How can one know what something tastes like if they have never tasted it? For example, would someone know that an apple is red if they have never actually have seen one. Someone can tell you an apple is red, but, if you never have seen one, can you really be sure? Empiricists use three anchor points in which they derive their opinions from. The first of these points is; the only source of genuine knowledge is sense experience. An easier way to understand this is to compare the mind to a clean sponge. As the sponge touches things, it takes with it, a piece of everything it touches. Without this, the sponge would remain clean and be void of anything†¦show more content†¦Another of the classic empiricists is George Berkeley (1685-1753), who believes that knowledge is possible. He believed that â€Å"it was only through experience and not reason that we have knowledge of reality† (p.99). The best way to describe what Berkeley was trying to say would be found in what we call today idealism. Idealism by definition is a position that maintains that ultimate reality is mental or spiritual in nature. He believed that reality is made up in many individual minds rather than one cosmic mind. Hence, when Berkeley says that we have an idea o f something he is not necessarily referring to a particular concept but to the experience of our memory of the combined ideas. The third empiricist is David Hume (1711-1776) and he does not answer this question as easily as the first two have. He believes that knowledge is possible but is limited by what we cannot know about the world outside of our own experience. Since we can only know the contents of our individual minds, knowledge would and can be different for each person. Hume believes that sensory data is key for any individual in order to know something is real. For example, if two people were sitting together, one possessing the ability to see and hear and the other does not, could the one the latter really know that a car drove by and that fact that it was red? Examples like this one are why HumeShow MoreRelatedEmpiricism and Experience1575 Words   |  7 PagesEmpiricism Empiricism by nature is the belief that there is no knowledge without experience. How can one know what something tastes like if they have never tasted it? For example, would someone know that an apple is red if they have never actually have seen one. Someone can tell you an apple is red, but, if you never have seen one, can you really be sure? Empiricists use three anchor points in which they derive their opinions from. The first of these points is; the only source of genuine knowledgeRead MoreEmpiricism In Grendel1503 Words   |  7 Pagesto see if he truly aligns and believes in the philosophy. 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Impact of AIDS on Sub-Saharan Africa’s Economy Free Essays

Sub-Saharan Africa is the part of the world most terribly influenced by AIDS.   By the end of 2004 it was estimated that twenty-six million inhabitants in Sub-Saharan Africa were suffering from AIDS. Approximately seven to eight per cent of the grown population is affected, with occurrence rates getting as high as forty per cent in a few countries. We will write a custom essay sample on Impact of AIDS on Sub-Saharan Africa’s Economy or any similar topic only for you Order Now Females are strangely infected, with adolescent girls five times more prone than teenage boys to catch AIDS. In 2004 only, two million people expired of AIDS in Sub-Saharan Africa. However the epidemic has far stretched from its peak, since infectivity rates are still exceeded casualties from AIDS. Due to the gap between infectivity and successive death, we have until now to see the full impact of AIDS on Sub-Saharan Africa’s society as a whole. There have been differing opinions over how AIDS has affected the economic future of the African continent. Mixed messages on the true economic repercussions of the spread of the disease have contributed to a limited response, despite the inclusion of combating AIDS in the Millennium Development Goals (MDGs). One of the least studied but most significant areas of the epidemic’s impact is rural agriculture. Though long de-prioritized, rural agriculture is a source of livelihood for millions on the African continent and is now again being perceived as a crucial contributor to economic growth and development by such organizations as the New Partnership for Africa’s Development (NEPAD). Hunger, food aid and agricultural subsidies are all key elements of the current discourse on Africa in policy circles and in the media, but few studies have assessed the impact of AIDS on agriculture to push for specific interventions to mitigate the impact of the epidemic on rural agriculture. This disease has affected millions of people and since many of them are farmers therefore it has indirectly affected agriculture also. Since agriculture is a major source of capital for individuals and the country therefore it has affected the economy of Africa also. It seems clear that such high levels of illness and mortality will severely hamper economic performance in the most heavily affected countries. Yet over the last decade, a number of macroeconomic studies have declared that AIDS is not having a significant impact on GDP growth. These analyses are important because they provide ammunition that allows statesmen and scholars to dismiss the epidemic as not worthy of action and funding. In circles of power around the world, it is money that drives policy initiatives. The claim that AIDS is not impacting economic performance speaks loudly and prevents aggressive intervention.( n5) This paper will start with an assessment of a number of the macroeconomic studies that aim to measure the impact of AIDS on GDP growth, and which contribute to the justification of a limited international response to the disease. Macroeconomic Analysis Of The Impact Of AIDS The assessments of the macroeconomic impact of AIDS have been largely dismissive due to the unique character of the epidemic. AIDS affects the poorest of the poor: those who are not recognized or measured by traditional macroeconomic indicators. (Ruxin, 2004) As a UN report on â€Å"The Impact of AIDS† notes, â€Å"those rural people whose activities are not counted by standard measurements of economic performance and productivity are among the most vulnerable to the impact of AIDS.†( Bloom,   Mahal, 1997, 108) By not fully accounting for the informal sector, the rural economy and small-scale agriculture are largely dismissed, and women, who play a large role in the informal economy and agricultural sector, are marginalized. While the macroeconomic studies assessing the impact of AIDS disregard them, in fact it is the poor, the rural and women who are most affected by the disease. After decades of neglect by governments and abandonment by structural adjustment programs, there is a renewed focus on agriculture by international organizations and groups such as the World Bank and NEPAD. Agriculture is once again being seen as a driving force for growth in Africa. The Comprehensive Africa Agriculture Development Programme (CAADP) released in July 2003 states that â€Å"the high economic growth rates envisaged by NEPAD cannot be realized unless farm production is significantly increased. Higher output will directly reduce hunger and bring down the cost of food imports. It will also have wider economic benefits, from stimulating rural incomes to providing raw materials for African industry.†(Harsch, 2004, 13) However, the rural areas are where AIDS is having its most devastating impact. At a time when population growth is high relative to other emerging economies, the amount of arable land is stable, the quality of land is degrading, and output per hectare stagnant, the rural areas are under increased pressure. Adding the AIDS epidemic into an already precarious mix of factors forces the agricultural sector into a dangerous downward spiral and threatens hopes for economic growth in sub-Saharan Africa. Few of the macroeconomic studies specifically address rural livelihoods and agriculture. They also assess the impact of AIDS without acknowledging that, from an economic point of view, the primary impact of the disease manifests mainly among individual economic agents, i.e. individuals and households. (Booysen, Bachmann, 2002) As a result, these macroeconomic models often fail to allow for the effects of a number of important microeconomic impacts which are endogenous to such models. (Booysen, Bachmann, 2002) Though the death of an individual might only represent a minor change in GDP, the macroeconomists fail to understand the ripple effect chronic illness and death has on communities. The impoverishment of communities cascades upwards and impacts macroeconomic measures. The traditional macroeconomic research approach is not sufficient in the face of the widespread devastation of AIDS. Microeconomic Analysis Of The Impact Of AIDS It is vital for researchers to conduct microeconomic household-level studies on the impact of AIDS. Such analyses document the economic choices that households and individuals are forced to make in the face of the epidemic in terms of household composition, labor, productivity, savings and coping strategies. It is these behaviors that will inform observers of the real impact the epidemic is having on sub-Saharan Africa and will thus serve as the basis for understanding the effect of AIDS on families, communities and the nation. Rural Household Studies It is clear from existing microeconomic household-level analyses that AIDS is devastating and will continue to devastate Sub-Saharan Africa’s rural agricultural sector and, through it, undermines the agricultural and rural revival that many see as the basis of Africa’s recovery. As Carolyn Baylies notes, â€Å"AIDS is having a profound effect, undermining rural household production, contributing to declining agricultural output and affecting the very integrity of families and their sustainability as viable units.†(Baylies, 2002, 12) This paper will now delve into a number of the microeconomic studies, with a focus on rural agricultural household studies, to assess the house hold level impact of the epidemic and to investigate the effects that the macroeconomic analyses have largely missed. A 2002 household impact study conducted in South Africa by Frederick Booysen and Max Bachmann explores the impact of AIDS on families in the Free State province. Researchers note that deaths in the households due to AIDS mostly occurred in individuals in their 20s and 30s. A Rwandan study revealed that, for those that died, the average period of illness before death was 23 months: a long period during which care had to be provided and medicines sought. (Donovan, 2003) Household illness dramatically increases the dependency ratio in the home. Booysen and Bachmann note that the households affected by AIDS in fact have a smaller supply of labor than non-affected households, with a larger proportion of the household consisting of children and elderly persons. (Booysen, Bachmann, 2002) Furthermore, dependency is exacerbated by the fact that many individuals return to their rural homes to receive terminal care after becoming ill. (Jayne, 2002) The South African study also assesses the impact of AIDS on household income. The authors note that â€Å"per capita and adult equivalent income in affected households represents only between 50% and 60% of the levels of income in non-affected households.†(Booysen, Bachmann, 2002) This dramatic drop results not only from the loss of labor of the infected individual but also from the burden of care that falls on family members. Importantly, Booysen and Bachmann also explore the impact of the disease on expenditure levels. AIDS significantly alters the consumption patterns of households: â€Å"per capita and adult equivalent expenditure is between 60% and 70% of the levels of expenditure in non-affected households.† (Booysen, Bachmann, 2002) Notably, affected households spend less on food than non-affected households, which has a negative impact on the health of household members. How to cite Impact of AIDS on Sub-Saharan Africa’s Economy, Papers