jimmy is the owner of vrs. until recently jimmy was also the managing director, but he has decided to employ a manager to take over the daily operations of vrs as he transitions to retirement. the new manager, berly, agreed to a performance based contract which says that berly will be paid bonus of $200,000 should the profits exceed a target of $2 million. the contract also says that berly must prepare financial statements and have them audited. Briefly define theory. According to agency theory, what are the roles performed by jimmy and berly
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jimmy is the owner of vrs. until recently jimmy was also the managing director, but he has decided to employ a manager to take over the daily operations of vrs as he transitions to retirement. the new manager, berly, agreed to a performance based contract which says that berly will be paid bonus of $200,000 should the profits exceed a target of $2 million. the contract also says that berly must prepare financial statements and have them audited. Briefly define theory. According to agency theory, what are the roles performed by jimmy and berly
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- Develop a fair procedure that will be used to determine merit raises and then decide the dollar raise to be given to each professor. provide not only the dollar amount of the raises, but also explain the process fordetermining raises and the rationale behind them.SituationSmall State University is located in the eastern part of the United States and has anenrollment of about 8,000 students. The College of Business has 40 full-time and morethan 30 part-time faculty members. The college is divided into five departments:Management, Marketing, Finance and Accounting, Decision Sciences, and InformationTechnology. Faculty members in the Management Department are evaluated each yearbased on three primary criteria: 1) teaching, 2) research, and 3) service. Teachingperformance is based on student course evaluations over a two-year period. Service tothe university, college, profession, and community is also based on accomplishmentsover a two-year period. Research is based on the number of…Develop a fair procedure that will be used to determine merit raises and then decide the dollar raise to be given to each professor. provide not only the dollar amount of the raises, but also explain the process fordetermining raises and the rationale behind them.SituationSmall State University is located in the eastern part of the United States and has anenrollment of about 8,000 students. The College of Business has 40 full-time and morethan 30 part-time faculty members. The college is divided into five departments:Management, Marketing, Finance and Accounting, Decision Sciences, and InformationTechnology. Faculty members in the Management Department are evaluated each yearbased on three primary criteria: 1) teaching, 2) research, and 3) service. Teachingperformance is based on student course evaluations over a two-year period. Service tothe university, college, profession, and community is also based on accomplishmentsover a two-year period. Research is based on the number of…Gordon Sparks Ltd. sells ergonomic chairs. The company implemented a new bonus structure for all of theirmanagers. If net income increased from the previous year, managers would be rewarded with 0.5% of the increase innet income.In January of last year, Mingle Nicholson was hired as the manager of the marketing department. As the marketingmanager, he was responsible for seeking external opportunities, managing budgets and understanding current andpotential customers. Every three or four days, Mingle would meet with the sales manager, Logan Freidman. Themeeting was usually about past sales, and whether there were changes to the selling strategy. This information wasextremely important to Mingle, since he was responsible to ensure the marketing objectives are aligned with the salesobjectives.During the year, Mingle made several changes to Gordon Sparks' marketing strategy. Mingle created a set of popularcommercials, which were a complete success. Each commercial reached over 5,000,000…
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- CASE DISCUSSION Wambui had been managing the budget department for Faida Bank. Because the work experience gained here was useful, much of the budget analysis work done in the department was performed by a group of management trainees. The trainees tended to be recent college graduates who were ambitious; they expected the budget work experience to be the pathway into the prestigious auditing department. Wambui managed under the assumption that by maintaining an open-door policy her employees would bring any problems to her attention. As a result, she remained in her office and seldom met with the trainees. Instead she would peruse the budget reports they submitted and return them to her secretary without comment. The reports often bore numerous errors which the trainees would be expected to make but which Wambui’s quick persual of the documents did not catch. The department heads throughout Faida Bank who received the erroneous reports would complain directly to the trainee who…CASE DISCUSSION Wambui had been managing the budget department for Faida Bank. Because the work experience gained here was useful, much of the budget analysis work done in the department was performed by a group of management trainees. The trainees tended to be recent college graduates who were ambitious; they expected the budget work experience to be the pathway into the prestigious auditing department. Wambui managed under the assumption that by maintaining an open-door policy her employees would bring any problems to her attention. As a result, she remained in her office and seldom met with the trainees. Instead she would peruse the budget reports they submitted and return them to her secretary without comment. The reports often bore numerous errors which the trainees would be expected to make but which Wambui’s quick persual of the documents did not catch. The department heads throughout Faida Bank who received the erroneous reports would complain directly to the trainee who…CASE DISCUSSION Wambui had been managing the budget department for Faida Bank. Because the work experience gained here was useful, much of the budget analysis work done in the department was performed by a group of management trainees. The trainees tended to be recent college graduates who were ambitious; they expected the budget work experience to be the pathway into the prestigious auditing department. Wambui managed under the assumption that by maintaining an open-door policy her employees would bring any problems to her attention. As a result, she remained in her office and seldom met with the trainees. Instead she would peruse the budget reports they submitted and return them to her secretary without comment. The reports often bore numerous errors which the trainees would be expected to make but which Wambui’s quick persual of the documents did not catch. The department heads throughout Faida Bank who received the erroneous reports would complain directly to the trainee who…
- describe the main purpose of using the quantitative approach during a Resersch .A compensation package for the temporary positions at Jaimie’s market• Create a fictional compensation package (CP). CP although fictional must still sound realistic.• You are expected to explain the components of the CP using APA but detailedresearch, analysis and synthesis are not required. template should be done in USD curency and must include: Base SalaryWage: Hourly wage, expected work hours per week, slary at the end of regular work week, overtime pay rate and salary expected if a temporary associate works 5 hours overtime. Performance Base Incentives: performance and refferal bonuses or meeting sales target ( set a flat bonus amount in USD). Benefits: Basic healthcare coverage with a % deducted from salaray, Employee discounts amount, retirement plan ( please explain figures provided). include any additional perks that are often included in a compensation package.After working as an assistant manager for two years, Rebecca Learner was promoted to the manager position. She did not have a degree from university, but she had over 15 years of experience in the restaurant industry. On her first day as manager, she met with the three assistant managers and all of the frontline employees to discuss ways they could take the restaurant forward. Some of the frontline employees expressed that customers often complained about several things such as hygiene, portion sizes, the appearance of the restaurant, employee uniforms, high labor turnover, and outdated menu items. Rebecca also asked customers what they liked and did not like about the restaurant. Taking all of the comments and suggestions into consideration, she started working with her frontline employees and managers on specific initiatives. They introduced new menu items, some of which were well received and others not so successful. They changed the tablecloths and plates, but the customers did…