Ch. 10 Hire And Manage A Staff
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The document discusses how to hire and manage staff for a business. It covers creating job descriptions and specifications, recruiting employees through various methods like classified ads and employment agencies, conducting effective interviews with prepared questions and notes, and creating a compensation package for employees. This includes determining wages, salaries, and different pay structures like commission plans or piece-rate plans to pay employees.
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Financials and Human Resource Planning MGT465 Version 2
Financials and Human Resource Planning
MGT/465 Version 2
1
University of Phoenix Material
Financials and Human Resources Planning
Section One: Start-up Financials
Start-up Expenses- Complete the SCORE.org template and attach as an object here:
Startup Expenses
In The Mix
Sources of Capital
$20,000
Owners' Investment (name and
percent ownership)
Tim Johnson 5% 5%
Peter Wilson 5% 5%
Jimmy Williams 10% 10%
Other investor
-
Total Investment
$
0
Bank Loans
USAA
$
2,500
Navy Federal
5,000
Bank Of America
4,000
Chase
5,000
Total Bank Loans
$
16,500
Other Loans
One Main Financial
$
3,000
Accion
5,000
Total Other Loans
$
8,000
Copyright © 2016 by University of Phoenix. All rights reserved.
Financials and Human Resource Planning
MGT/465 Version 2
2
Startup Expenses
Buildings/Real Estate
Purchase
$
150,000
Construction
50,000
Remodeling 250,00
Other
-
Total Buildings/Real Estate
$
200,000
Leasehold Improvements
DryWall
$
5,000
Carpentry
1,500
Restroom Accessories
2,500
Lighting Fixtures
500
Total Leasehold Improvements
$
9,500
Capital Equipment List
Furniture
$
30,000
Equipment
10,000
Fixtures
5,000
Machinery
10,000
Other
-
Total Capital Equipment
$
55,000
Location and Admin Expenses
Rent & Related Costs
$
1,250
Utility deposits
200
Copyright © 2016 by University of Phoenix. All rights reserved.
Financials and Human Resource Planning
MGT/465 Version 2
3
Legal and accounting fees
5,000
Prepaid insurance
7,500
Pre-opening salaries
20,000
Other
-
Total Location and Admin Expenses
$
33,950
Opening Inventory
Choclate
$
300
Flour
100
Sugar
50
Utensils
100
Decorations
250
Total Inventory
$
800
Advertising and Promotional
Expenses
Advertising
$
10,000
Signage
3,500
Printing
1,000
Travel/entertainment
5,000
Other/additional categories
-
Total Advertising/Promotional
Expenses
$
19,500
Other Expenses
Other expense 1
$
-
Other expense 2
-
Total Other Expenses
$
-
Copyright © 2016 by University of Phoenix. All rights reserved.
Financials and Human Resource Planning
MGT/465 Version 2
4
Reserve for Contingencies
$
-
Working Capital
$
-
Summary Statement
Sources of ...
Financials and human resource planning mgt465 version 2
The document discusses financial and human resource planning for a startup bakery business. It includes a startup expenses template listing costs for buildings, equipment, inventory, advertising, and other startup needs totaling $318,750. It also includes a human resource forecast projecting 4 full-time and 5 part-time employees to start. Each business owner holds certifications in baking and food safety. The document reflects on lessons learned about the importance of thorough planning for finances and human resources to help avoid business failure.
Recommended
Resume (subho 20th march'16)
Dynamic Professional with rich 11 years of FP&A experience, working as Manager in leading Global Insurance company, looking for an suitable opening.
Kesoram Industries Ltd.
The document describes the job responsibilities of the Head-Legal at Kesoram Industries Ltd. The responsibilities include: 1) Managing pan-India litigation and legal operations, updating management, and coordinating external counsel; 2) Ensuring compliance with employment laws and resolving trade union matters; 3) Drafting legal documents like contracts, plaints, and affidavits; and 4) Analyzing the financial impact of litigation and assisting the financial and commercial teams.
Buckley hr metrics 2011_dec_12
This document summarizes a presentation about using HR metrics to communicate effectively with CFOs. The presentation discusses characteristics of high-quality HR metrics, provides generic examples of common metrics like cost per hire and turnover rate, and presents two case studies showing how companies improved metrics related to recruiting and benefits to realize significant cost savings. It concludes by discussing how HR metrics are increasingly being incorporated into business intelligence dashboards used by executives.
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The document discusses different types of compensation and reward plans. It describes intrinsic and extrinsic rewards, financial and non-financial rewards, and performance-based and membership-based rewards. Various laws regarding compensation are also summarized, including the Fair Labor Standards Act and Equal Pay Act. The document outlines different methods for job evaluation and establishing pay structures, as well as special cases of compensation like incentives and executive compensation.
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The document discusses the concepts of time value of money including future value, present value, annuities, and perpetuities. It provides examples of calculating future and present value of single cash flows as well as annuities. It also discusses concepts like compound interest, effective interest rates, and loan amortization. The document highlights the importance of understanding time value of money for financial decision making.
Financials and Human Resource Planning MGT465 Version 2
Financials and Human Resource Planning
MGT/465 Version 2
1
University of Phoenix Material
Financials and Human Resources Planning
Section One: Start-up Financials
Start-up Expenses- Complete the SCORE.org template and attach as an object here:
Startup Expenses
In The Mix
Sources of Capital
$20,000
Owners' Investment (name and
percent ownership)
Tim Johnson 5% 5%
Peter Wilson 5% 5%
Jimmy Williams 10% 10%
Other investor
-
Total Investment
$
0
Bank Loans
USAA
$
2,500
Navy Federal
5,000
Bank Of America
4,000
Chase
5,000
Total Bank Loans
$
16,500
Other Loans
One Main Financial
$
3,000
Accion
5,000
Total Other Loans
$
8,000
Copyright © 2016 by University of Phoenix. All rights reserved.
Financials and Human Resource Planning
MGT/465 Version 2
2
Startup Expenses
Buildings/Real Estate
Purchase
$
150,000
Construction
50,000
Remodeling 250,00
Other
-
Total Buildings/Real Estate
$
200,000
Leasehold Improvements
DryWall
$
5,000
Carpentry
1,500
Restroom Accessories
2,500
Lighting Fixtures
500
Total Leasehold Improvements
$
9,500
Capital Equipment List
Furniture
$
30,000
Equipment
10,000
Fixtures
5,000
Machinery
10,000
Other
-
Total Capital Equipment
$
55,000
Location and Admin Expenses
Rent & Related Costs
$
1,250
Utility deposits
200
Copyright © 2016 by University of Phoenix. All rights reserved.
Financials and Human Resource Planning
MGT/465 Version 2
3
Legal and accounting fees
5,000
Prepaid insurance
7,500
Pre-opening salaries
20,000
Other
-
Total Location and Admin Expenses
$
33,950
Opening Inventory
Choclate
$
300
Flour
100
Sugar
50
Utensils
100
Decorations
250
Total Inventory
$
800
Advertising and Promotional
Expenses
Advertising
$
10,000
Signage
3,500
Printing
1,000
Travel/entertainment
5,000
Other/additional categories
-
Total Advertising/Promotional
Expenses
$
19,500
Other Expenses
Other expense 1
$
-
Other expense 2
-
Total Other Expenses
$
-
Copyright © 2016 by University of Phoenix. All rights reserved.
Financials and Human Resource Planning
MGT/465 Version 2
4
Reserve for Contingencies
$
-
Working Capital
$
-
Summary Statement
Sources of ...
Financials and human resource planning mgt465 version 2
The document discusses financial and human resource planning for a startup bakery business. It includes a startup expenses template listing costs for buildings, equipment, inventory, advertising, and other startup needs totaling $318,750. It also includes a human resource forecast projecting 4 full-time and 5 part-time employees to start. Each business owner holds certifications in baking and food safety. The document reflects on lessons learned about the importance of thorough planning for finances and human resources to help avoid business failure.
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This chapter discusses reward and pay plans. It covers intrinsic and extrinsic rewards, financial and non-financial rewards, and performance-based and membership-based rewards. It also discusses different types of reward plans including incentives, executive compensation, international compensation, and issues around establishing pay structures.
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Running head: BUDGET PROCESS
1
BUDGET PROCESS
8
KJZZ Employee Training Program Budget Process
KJZZ Employee Training Program Budget Process
This week Learning Team B will address KJZZ’s budget process for its employee-training program. The budget will involve the following: Develop an allocated budget, analyze the return on investment (ROI) with the allocated budget, examine the ROI challenges, discuss the forces driving the ROI and explain the elements of ROI methodology. These areas will help management understand the importance of the project and how it will benefit the organization on the quality of work and return on its investment.
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Budget allocations are critical additives to an annual monetary plan, or price range, of all agencies. They indicate the level of sources a corporation is committing to a branch or application without allocation limits rates can exceed sales and bring about financial shortfalls. Each person overseeing budgets should apprehend its utilization and the restrictions it delivers.
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KJZZ Radio Station’s Utility Payment
The radio station will set aside $7500 each month to cover its utilities which include but not limited to electricity, water, television payments to appropriate parties.
KJZZ Employee Payments
The radio station will set aside $10,000 to cover employer’s salaries respectively. All employees on the payroll will receive pay on a bi-weekly basis.
KJZZ Community Events
The radio station will set aside $5.000 monthly for various community events for their listeners and fans.
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The radio station will set aside another $7,500 for miscellaneous spending. Emergencies and any other unplanned occurrence are paid directly from this expenditure.
It is important to understand that this is just an example of how an “Allocated Budget” for a company works. As with everything in life, there are times when adjustments or changes are necessary.
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The ROI approach to budgeting looks at many components for the investments instead of the costs. Therefore, KJZZ expects good financial returns on all of the investments within a timely manner. For the business to make those investments within the world of advertising, KJZZ expects to see an abundance of profits from all of their investments. The ideas behind the ROI approach in regards to every dollar spent on advertising, allows the business to gain some valuable profits from all of the returns. Even though there are challenges with an ROI for interpreting and analyzing some of the contributions, the business ...
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This week Learning Team B will address KJZZ’s budget process for its employee-training program. The budget will involve the following: Develop an allocated budget, analyze the return on investment (ROI) with the allocated budget, examine the ROI challenges, discuss the forces driving the ROI and explain the elements of ROI methodology. These areas will help management understand the importance of the project and how it will benefit the organization on the quality of work and return on its investment.
Develop an Allocated Budget
Budget allocations are critical additives to an annual monetary plan, or price range, of all agencies. They indicate the level of sources a corporation is committing to a branch or application without allocation limits rates can exceed sales and bring about financial shortfalls. Each person overseeing budgets should apprehend its utilization and the restrictions it delivers.
Life pulls money in all directions. Allocation is a fancy word for “when you spend your money.” We are going to build KJZZ’s Yearly Cash Flow Plan here and get a little more in depth by breaking the company’s income down on a monthly basis. The four bullets below represent the main expenditures in a given month. For instance the station has a monthly budget of $30,000.
KJZZ Radio Station’s Utility Payment
The radio station will set aside $7500 each month to cover its utilities which include but not limited to electricity, water, television payments to appropriate parties.
KJZZ Employee Payments
The radio station will set aside $10,000 to cover employer’s salaries respectively. All employees on the payroll will receive pay on a bi-weekly basis.
KJZZ Community Events
The radio station will set aside $5.000 monthly for various community events for their listeners and fans.
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The radio station will set aside another $7,500 for miscellaneous spending. Emergencies and any other unplanned occurrence are paid directly from this expenditure.
It is important to understand that this is just an example of how an “Allocated Budget” for a company works. As with everything in life, there are times when adjustments or changes are necessary.
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The ROI approach to budgeting looks at many components for the investments instead of the costs. Therefore, KJZZ expects good financial returns on all of the investments within a timely manner. For the business to make those investments within the world of advertising, KJZZ expects to see an abundance of profits from all of their investments. The ideas behind the ROI approach in regards to every dollar spent on advertising, allows the business to gain some valuable profits from all of the returns. Even though there are challenges with an ROI for interpreting and analyzing some of the contributions, the business ...
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This activity helps students recognize the significant role accounting plays in providing financial information to management for decision making through the evaluation of financial statements. This experiential assignment requires students to use ratios to evaluate and analyze a company’s liquidity, solvency, and profitability.
Two-Rivers Inc. (TRI) manufactures a variety of consumer products. The company's founders have run the company for thirty years and are now interested in retiring. Consequently, they are seeking a purchaser, and a group of investors is looking into the acquisition of TRI. To evaluate its financial stability, TRI was requested to provide its latest financial statements and selected financial ratios. Summary information provided by TRI is presented below.
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The document discusses the differences between budgets and forecasts, with budgets being annual goals and forecasts providing more frequent updates on actual performance. It also covers creating annualized cash flow projections and periodic cash flow projections on a weekly or monthly basis to better understand liquidity over time. The CEO's role in financial management is also outlined, including understanding key metrics and ensuring accurate financial reporting and cash flow management.
Big Grower- February 2016 v-3
This document provides a financial summary and analysis for Median Greenhouse USA. It finds that while the company has been profitable over the past 6 years, its average net profit margin of 1.96% and cash flow have been insufficient. The analysis determines that to cover expenses like debt payments, capital expenditures, and building working capital, the company needs a minimum net profit margin of 5.42% or $1,283,333 in net profit annually. However, the company's working capital deficiency has increased in recent years due to insufficient earnings. If not addressed, this could gradually lead the company into financial difficulties. The document emphasizes looking beyond metrics like EBITDA to focus on real cash flows like net cash after operations and cash after
Operation Management Essay
The document provides an overview of operations management. It discusses how operations management focuses on managing processes to produce and distribute goods and services according to an organization's plans. It also briefly outlines the history of operations management, from craft production to modern manufacturing. The document notes that craftspeople traditionally worked in small shops or homes to meet local demand, while large-scale manufacturing later emerged. It mentions furniture production as an example of some early industries. The summary then trails off, indicating there is more content that is not shown.
Whbm04
This chapter discusses adjusting entries which are needed at the end of an accounting period to update accounts for the financial statements. There are four main types of adjusting entries: 1) converting assets to expenses to recognize the usage of prepaid expenses, 2) accruing unpaid expenses to record expenses incurred but not paid, 3) converting liabilities to revenue to recognize unearned revenue as it is earned, and 4) accruing uncollected revenues to record revenue earned but not received. Examples of each type are provided. The key purpose of adjusting entries is to align revenues and expenses with the proper accounting period.
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Ch. 9 Marketing
Marketing involves more than just advertising and selling. It is defined as the set of activities involved in moving products from producers to consumers. This includes planning, pricing, promoting, and distributing goods and services. Major organizations involved in marketing include retailers that sell directly to consumers, and wholesalers that buy from producers and sell to other businesses. Before production, companies must determine their target market through market research to identify who their buyers will be. They then focus their marketing efforts on that target market. The four Ps of marketing - product, price, place, and promotion - make up a company's marketing mix.
Ch. 5 Business Plan
The document outlines the key elements that should be included in an effective business plan. It discusses that a business plan is used to convince lenders and investors of the viability of a business idea. The seven core elements that should be included are: history and background of the idea, goals and objectives, products/services, ownership structure, management team, marketing plan, and current and projected financial statements. Additional optional elements could include details on location, technology used, and business ethics.
Ch. 7 Financial Planning
Before approaching lenders or investors, entrepreneurs must create solid financial statements projecting their business's first-year performance, including pro forma statements. Pro forma statements include a start-up costs list, cash flow statement forecasting revenues and expenses, and balance sheet using the accounting equation of assets equaling liabilities plus owner's equity. The financial statements are based on the entrepreneur's forecasts and help secure financing.
Technology
The document discusses technology and business ownership. It covers computers and operating systems like Windows and Linux. It describes management information systems (MIS) that integrate data across departments. The Internet is introduced as a worldwide network allowing electronic communication. ARPANET was an early defense network that led to the Internet. Intranets share resources within companies while extranets share data externally. E-mail and e-commerce using online buying and selling are also discussed. Dot-com businesses do most operations online. Finally, Web 2.0 involves collaborative websites and social networking.
Ch. 4 Type Of Ownership
The document discusses different types of business ownership structures including franchising, starting your own business, and legal forms of business. It describes franchising agreements and costs. It outlines advantages and disadvantages of starting your own business. Finally, it defines sole proprietorships, partnerships, and corporations as the three main legal forms of business ownership and provides brief descriptions of each.
Ch. 8 Location
The document discusses various factors to consider when choosing a location for a business, including retail location types such as downtown areas, neighborhood shopping centers, community shopping centers, and regional shopping centers. It also addresses stand-alone stores and warehouses as potential retail locations. Key factors that determine the best location include the type of business, target customer base, availability of parking and visibility. The document emphasizes the importance of selecting an optimal trade area and avoiding direct competition within that area.
Ch. 2 Entrepreneurship Skills
This document discusses communication, problem-solving, and decision-making skills important for entrepreneurs. It covers writing effective business letters and memos, speaking skills for phone calls and customer interactions, listening skills, and a problem-solving model of defining the problem, gathering information, identifying solutions, evaluating alternatives, taking action, and evaluating the results. It also describes brainstorming and consensus-based decision making techniques for group problem solving.
Ch. 14 Legal And Ethical
The document discusses legal and ethical obligations for businesses. It covers laws around patents, copyrights, and trademarks that protect inventions, creative works, and brand names. It also discusses ethics, defining it as the study of moral choices and values. Business ethics applies ethical principles to workplace issues. Companies often adopt a code of ethics to define their values and rules around respecting individuals, fairness, honesty and other standards. The document provides examples of laws and guidelines around equal employment, sexual harassment, and ethical decision-making.
Ch. 3 Market Economy
The document discusses different types of economic systems and concepts in business ownership and market economies. It explains that in a market economy, individuals and businesses decide what to produce based on supply and demand. When supply and demand are equal it reaches an equilibrium price and quantity. The US operates under a market economy where private individuals and groups make decisions rather than the government. It also discusses the concepts of fixed and variable costs that businesses consider to determine prices and profits.
Ch. 1 Should You Become And Entrepreneur
This document discusses what it means to be an entrepreneur and whether becoming an entrepreneur is the right path. It defines entrepreneurs as people who own, operate, and take on the risks of starting a business venture. Successful entrepreneurs tend to be independent, self-confident, determined, goal-oriented, and creative. The document encourages readers to do a self-assessment to evaluate their strengths and weaknesses to determine if they have the aptitude and temperament to be entrepreneurs. It also lists some advantages like being your own boss but also disadvantages like the risks, long hours, and responsibility for all decisions.
How to Link your PPT
The document provides instructions for linking presentations uploaded to Slideshare.net. It outlines the steps to create an account, upload a presentation, publish it with a title and description, view the uploaded slides, copy the specific slide link, and paste that link into an online class blog with a message to share the presentation.
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The document provides instructions for linking presentations on Slideshare.net in 3 steps: create an account with a username and password, upload a presentation by browsing for the file and publishing it with a title and description, and then view the presentation and embed individual slides by copying the specific slide link.
Etec Group Project
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Ch. 10 Hire And Manage A Staff
- 1. Chapter 10 –Hire and Manage Staff Business Ownership Spring 2007 Williams C. Greene, (2000). Entrepreneurship Ideas in Action. Cincinnati, OH: South-Western.
- 3. Organizations Structure Board of Directors Chairman of the Board/CEO President Vice President/Athletic Director Vice President of Finance/Accounting Vice President of Marketing Director of Human Resources Basketball Director Director of New Customers Tennis Director Director of Accounting/Finance Basketball Coaches/Trainers Tennis Coaches/Trainers