How does John Lewis profit sharing with their employees benefit the Literature review

How does John Lewis profit sharing with their employees benefit the company - Literature review Example When the employees get the feelings of ownership, they increase their contribution toward the business profitability. The profit sharing approach works best when the business and the management educate the employees in understanding the business challenges hence work hard to get solutions. There are two way communications that create a hardworking culture; employee involvement and flat management (Melton, Smith & Yates 2008). In this strategy, the employer provides the employees cash and bonuses. The employer pays the workers extra money depending on either their individual level of performance or the company’s performance level. The management will have to deduct the extra payment as an expense but will pay income tax from that amount (Latta 2005). A company can also award the performance-based incentive in the form of deferred compensation plan. In such a strategy, the employer will add a bonus amount to a pension scheme followed by a deduction of the contribution. The employee will then have to pay the income tax that the contribution amounts to when he/she receives the money from the trust. Various researches indicate that cash reward strategies give better productivity motivation than the deferred compensation plans. The difference is explained by the immediacy resulting from the positive behavior reinforcement (Hallman & Rosenbloom 2003). The last method that a business can use in this strategy is the stock option. Developing companies can use this process, but should be in markets that are growing fast. The company awards the employees the opportunity to buy shares at a specified period at a set price. The employees wait until the company executes the plan in order to start getting the benefits. The company offers stock option as a bonus to employees for inclusion in the profit sharing plan (Gitman & Joehnk 2005). One of the major benefits of this strategy is that it is cheap and flexible while implementing. The employer can

Entrepreneurship and Innovation Research Paper Example | Topics and Well Written Essays - 3000 words

Entrepreneurship and Innovation - Research Paper Example There is no fast forward way of attaining innovation in any process or technology. Rather the journey is strewn with intermittent success and failures and long periods of stagnation. Innovation has occurred in all spheres of activity starting from the development of products to the development of services. In the last 70 or 80 years the Information Technology industry witnessed the highest degree of innovation. The innovation of the Information Technology industry and the electronics hardware industry were followed with equivalent degree of innovation in the telecommunication industry (Achrol, 2011). The process of innovation of Omantel is discussed in this research study. For a better comprehension of the research methodology, the whole research is divided into 4 parts. In the first part of the discussion the process and technique of innovation is assessed and analysed. The strategy followed for managing the innovation of Omantel is discussed. The latter parts of the discussion are about the company establishes an innovative environment within its organisation and the strategic implications for Omantel based in Oman. Assessment and reflection on the process and techniques of innovation Schumpeter’s Theories of Innovation is discussed in this section along with other related theories. ... In order to bring innovation the entrepreneurs need to access capital and resources. Innovation and price competition are sides of two different coins, where one negates the other. If firms compete on the basis of price then only price classification occurs with no or little innovation. In order to make sure that the correct path is taken which will lead to innovation, it is absolute necessary to control the process applied. Whereas, if only inputs are considered as the most important entity rather than the process of innovation itself, then more time is wasted before innovation is finally achieved. Innovations as well as developments are non exogenous in nature. This means that innovation can occur, by simply using the internal factors present in the economic system. Fig 1: Cycle of innovation Source: (Andrews and Smith, 1996) Some of the most important factors that lead to the excellent growth of innovation are entrepreneurship and in-house capability to conduct the research and de velopments. Entrepreneurship still remains to be the most important factor among all the other factors. Instead of going for a competitive pricing strategy, a simple method of pricing is followed (Bajaj, 2001). The base price is fixed by taking into consideration the high quality of the integrated components. For example, the organisations which decided to simply add features to their previous models of products or services were outsold by those organisations that considered innovation rather than mere up gradations. Organisations like Nokia focused on innovation, while Sony and Motorola focused on up gradation only. As a result Nokia outperformed and outsmarted the other two organisations significantly which focused more on pricing strategy (Benner and Sandstrom, 2012). Those products

Persuasive Research PaperFinal Version Essay Example | Topics and Well Written Essays - 1500 words

Persuasive Research PaperFinal Version - Essay Example Some brides experience the intercourse slightly discomforting and unsatisfying. Rather than accepting that this is a usual, normal experience that will eventually be go away through repetition, she could sustain a negative form of fear or anxiety which will ruin the marriage. This usually results in depression. This essay argues that postnuptial depression or post-wedding blues among newlywed women is very real and common. Postnuptial depression is a widespread, but rarely studied issue. Signs involve buying Martha Steward Weddings in secret, attending bridal shows simply to know the current trend in the market, and trying to make an appointment with the wedding planner because she misses her. Postnuptial depression may not be classified as a clinical finding, yet it has moved into the marriage dictionary in recent years, and newlywed women will attest to its reality. The depression normally happen soon after the wedding, according to psychiatrists, as newlywed women start realizing that dreams of how their relationship or spouse will change after the wedding are too idealistic. Worse, as soon as the excitement of the wedding dries out, couples are forced to abandon their deeply treasured and often enduring ‘bride and groom’ limelight and simply deal with reality. A San Francisco psychologist, Dr. Michelle Gannon, reports there has been an increase recently in the number of newlyweds who seek help for their postnuptial depression. According to psychiatrists, most people feel a certain extent of disillusionment after the wedding, but 5 to 10 per cent of newlywed couples experience severe enough regret, disappointment, or unhappiness to compel them to look for professional counselling. The medical head of the Moonview Sanctuary in California, Dr. Terry Eagan, refers to post-wedding blues the undisclosed sorrow—women who suffer from it are usually quite ashamed to disclose it to anyone. One newlywed woman admitted that â€Å"A lot of my friends had

HISTORY Essay Example | Topics and Well Written Essays - 1000 words

HISTORY - Essay Example Alexander thus was a far better war tactician than Caesar. However when comparing merits as a ruler, it is not just war exploits and successes that need to be considered, but the issue of what was done for their people, and were the people better off under their rule and subsequent to their rule. At the age of twenty Alexander succeeded his father King Phillip as King of Macedonia. He spent the next few years consolidating his power among the Greek nations, and by 334 BC was ready to set out to conquer the world, though handicapped with a small army, no navy, and lacking in the means to finance his dreams. Still he crossed over into Asia Minor to begin the conquest of the Persian Empire. He conquered Asia Minor and at Syria met the forces of the Persian King Darius and defeated them. Darius fled to Mesopotamia. Alexander took Palestine an Egypt and then turned his eyes on Mesopotamia. He soon conquered Mesopotamia. The vast lands and wealth of the great Persian Empire was all his now. He then turned his attention to Afghanistan and India. He gained Afghanistan and a hold on the north-western parts of India, At this point he had to turn back, as his army had become restless with so many years of fighting away from home. His eastward thrust thus ended in 327 BC, just seven years after he had set out. There is no doubt that no ruler ever has achieved so much in conquests in so limited a period of time (Alexander the Great). The driving force behind Alexander’s dreams of conquering the world is a much debated topic. The debate remains on whether wanting to spread Greek civilization or whether it was his megalomania that was the cause. However there is agreement in that his conquests and the speed at which they were executed remain with a parallel in history. However, the same speed with which the conquests were seen in the collapse of his empire after his death. In that sense his conquests did

Same-Sex Marriage Essay Example | Topics and Well Written Essays - 1750 words

Same-Sex Marriage - Essay Example ause of children as they are a shared responsibility and without children husband and wife do not share any big responsibilities, which weakens their bond instead of strengthening it. George makes another argument that to ground marriage laws on the moral judgment of heterosexual and monogamous marriages is correct. He argues that since law is considered as a teacher, if it remains silent or neutral regarding marriages, then people would misunderstand the true meaning and essence of marriage. â€Å"It may harm people who need the reinforcement of the broader culture so that they are not distracted and lose their ability to â€Å"see the true meaning of marriage†, argues George (647). I agree with George’s criticism about same-sex marriages when he states that it is a union of man and women instead of two men or two women. I believe that heterosexual spouses unite in marital sexual activity for the goal of reproducing children but this unity brings longevity to their sp iritual happiness and strengthens their bonding for the rest of their lives. The goal of having children is not instrumental. This goal unites the two parents into such a bond that they find peace in being with each other, which is necessary to motivate them to make efforts for their children’s well-being. These children are not treated as ends in themselves because they are a source of spiritual and emotional strengthening of the bond between their heterosexual parents. This is not true in case of same-sex marriages because there is no emotional bond that needs to be strengthened- the bond that forms as a result of sexual intercourse, pregnancy and offspring. I also agree that if law does not restrict same-sex marriages or remains quiet, then such marriages will become very common resulting in destroying... This essay talks about a sensitive issue of same-sex marriages. The debate between supporters and opponents of same-sex marriages has been around for a fairly long period of time. The earliest known gay rights organization is the Society for Human Rights in Chicago that was established in 1924 and launched the first gay rights movement. After that, the Mattachine Society was established in 1950. History reveals that a number of organizations and movements have been launched at state level which support gay rights which include ceremonial marriages, child adoption, domestic partnership registration on public record, domestic partnership affidavit given by employers to gay employees that defines the couple’s economic relationship, health care, insurance, lawsuits, and property. An analysis of George’s criticisms reveals many facts that are agreeable to someone who wants the true definition of marriage to sustain. George claims that marriage is a bond between man and woman with the purpose of reproducing offspring and also of sharing responsibilities that tends to enhance mutual love and caring through sexual act and spiritual bond. He argues that legalization of same-sex marriages would deteriorate the society morally. Bolte, contrarily, argues that if marriage means bearing children, then the marriages of opposite-sex couples not bearing children are also not legal. She states many advantages of same-sex marriages, one of which is that this enables gays and lesbians to be accepted as normal individuals of the society.

Ancient Japan Reform Essay Example | Topics and Well Written Essays - 1000 words

Ancient Japan Reform - Essay Example However, the reforms had a far more reaching effect apart from strengthening the imperial family. They also created a good system. Although some people argue that these changes were ineffective, I think they rather led to the creation of a more efficient and refined system. As such, I will support this argument/stand from facts drawn from class reading and other sources. Ritsuryo is basically a historical system in japan founded on Chinese legalism and Confucianism philosophies (de Bary 22). RitsuryÃ… -sei is a term often used to refer to the system (political) in accordance to the Ritsuryo. Another significant term often used in this period or analysis is the kyaku, whuch refers to the Ritsuryo amendments whereas enactments were termed as shiki. Most of Japan’s reforms commenced during thhe Asuka period and extended into the nara period. The capital of japan was moved to Asuka in this period (538-710). Asuka was located on plains and it bordered nara. This period is mostly known and remembered for its vital social, political and artistic transformations. These transformations had their roots in the kofun era. The Yamato nation changed considerably during this era, adopting social and political systems from china. Their primary goal was to make the imperial family stronger and legitimate. Shotoku Taishi in 603 implemented a Confucian organization made up of 12 court ranks. Subsequently, he established the seventeen article constitution in 604, which explicitly highlighted the rights and duties of government ministers, people and the ruler. Taika reform preceded these transformations. The Taika reform took place between 645 to 649 and led to the creation of the Ritsuryo. The Ritsuryo was an organization and system comprised of fiscal, administrative and social institutions in japan commencing from the 7th to 10th century. During the Asuka era, Daoism and Buddhism were introduced into japan. Consequently, these religions eventually were syncretized with the

Benefits and Effectiveness of Accounting Essay Example for Free

Benefits and Effectiveness of Accounting Essay The research was based on two variables these are computerized accounting systems which comprise of definitions, components of computerized accounting software and benefits and limitation of computerized system and financial reporting which also comprises of definitions of financial reports, benefits and effectiveness of accounting system used at National Water and Sewerage Corporation. The study will enable management to understand the significance of preparing quality and reliable financial reports. The study will point out weakness in the accounting system which management needs to address. The Government of Malaysia through the Department of Accountant General (MDAG) has instructed MARA to implement the Standard Accounting System for Government Agencies (SAGA). This is a total Enterprise Resource Planning (ERP) System, developed based on web-based application and is using an accrual basis of accounting. The SAGA financial system enables its users, particularly the government agencies to close their accounts on a daily basis, monitor their daily financial activities as well as produce standardized financial reports to the stakeholders at any place and any time. However, upon completion of the SAGA financial system analysis, MARA identifies that the system could not cater all MARA business activities. Processes such as disbursement of scholarship and loans to students and entrepreneurs are not covered by the system. As such, MARA still has to maintain its existing databases and therefore made special request to the MDAG to exclude the implementation of SAGA while awaiting MARA ICT consultant’s recommendations on the development of a new MARA Total Information and Financial System. As a conclusion, the SAGA financial systems could not be used by MARA on its own. The end-users in MARA need to operate both, SAGA and its own systems at the same time. This situation could lead to users’ confusion if they are to use different type of system when updating certain type of financial transaction. This is because the end-user of MARA Computerized Accounting System could only utilized the SAGA Financial System just for ordinary operating expenditures whilst any disbursement of expenditure pertaining to subsidiary system, they still need to use the existing MARA Financial Systems. Consequently, internal controls and security functions may not be easily built in the systems. Concurrent use of both systems may affect job satisfaction and performance of the end-users. Introducing Computerized Accounting Information Systems in a Developing Nation: Egyptian International Motors This study aims to assess the implementation of accounting information system on a company in a developing nation. To answer this question this manuscript attempts to do the following: (1) identify the reasons for the shift to an automated system and the main goals that the company aim to achieve form this shift, (2) determine the company’s strategic decisions like choices between outsourcing versus in-house development, and ready made packages versus tailor made software, (3) describe the steps of implementation, (4) understand the reaction of the employees to the new automated system, (5) study the required changes on the organizational chart and human resources qualifications that are required, (6) recognize the problems that the company met during the process, (6) point the advantages of the shift to the automated system. A computerized accounting System provides many advantages over manual systems, for example entries do not have to be recorded in multiple ledgers so as to fulfill the cardinal rules of financial reporting.A single entry is made and the system will populate all the appropriate corresponding accounts automatically. Computerized accounting also makes it possible for people in other departments,not just accounting to enter data.It does not require avast amount of accounting knowledge for a payroll clerk to enter wages details into the accounts,a basic understanding of how to use the system is sufficient The study intends to find out the effect of a computerized accounting system on the quality of financial reports generated by an organization. To examine the effect of computerize accounting systems quality financial reporting. To determine the challenges encountere by organizations before and after implementing a computerized accounting system. To identify strategies/measures of ensuring quality financial reporting. An accounting system is part of the organisation’s management information system therefore a good or decent accounting system must be able to produce reports like trial balance, aged debtors and aged creditors. Accounting systems must provide data that should enable the production of management accounts, statutory accounts and must also assist the managers and accountants in discharging their stewardship roles. Production Of Accounts A good system should enable the firm to produce its management reports and management accounts at short notice. This will enable the organisation to monitor performance, to take decisions quickly and to make decision based on objective and verifiable information. Audit Trail Audit trail is very important as it will enable auditors and senior managers to monitor transactions entered in the accounting system and this will ensure that there is information integrity. A good system should document the changes that have been made in the system, who made the changes and it should also be able to track what was changed. Compatibility With Other Programmes A strong characteristic of a good accounting system is that it must be compatible with other systems. For example, it should easily be configurable so that it can communicate with other programmes like Excel or Crystal. An accounting system should be able to export transactions and reports into Excel and it should allow data and transactions to be imported from an external source. This will lead to time savings as there will be no need to duplicate a role or process. Error Detection If an accounting system does not dictate errors then it is not a good accounting package as it is failing to perform a basic functionality. An accounting package should decline to post transactions that do not balance for example the total debits should equal the total credits and if this is not the case, then the accounting system should automatically flag this error. Internal Controls Internal controls are the eyes and ears of the organisation and a good accounting system should embed these internal controls into the system. Internal controls enable prevention and detection of fraud and error. An accounting system should enable internal control tools like segregation of duties, reconciliations and account allocations. A good accounting system should not allow users to delete data that has been posted into the system. Manual Vs Computerized Accounting Computerized accounting systems provide more benefits than manual ones, allowing for more accurate calculations, in less time. Compared to manual accounting, with a computerized system errors are far less common, eliminating human error. And with accounting programs that are industry-specific, you can benefit from various preset templates for your general ledger, saving more time. You can store virtually endless information, without any trouble at all. And if you later want to review financial information from several years ago, with a computerized accounting system you can do it easily, while with a manual one you would have to sort through stacks of paper ledgers. Bottom line, both systems may be useful to some extent. But for more accurate bookkeeping and increased efficiency, a computerized accounting system seems to have more advantages. You can find several free versions online, as well as more proficient accounting software available for purchase. Search online for such accounting systems, read about their features and decide which one would be better for your particular business needs. Although they will not allow you to physically handle the ledgers, it will provide a better accounting solution. The advantages of Computerized Accounting seem to be unknown by business owners and individuals who are in doubt of purchasing Accounting Software. Accounting Software has been a trend nowadays. With the vast Computerized System Providers and wide range of versions to choose from, Accounting System has evolved to be one of the trends in information technology. Computerized Systems are designed to create more value in Financial Accounting. Value can be relayed in terms of speed, accuracy and reliability of accounting data. With Computerized System, invoices can be transmitted in an instant through email; inventories are appropriately monitored; and disbursements are tracked for payments to be done before due dates. It helps Bookkeepers to reduce manual activities. When transactions are entered in the Accounting System, automatic entries are posted to generate data needed for financial reporting. Accounting Software enables Bookkeepers and Accountants to adjust necessary accounts to reflect the correct amount of each Account. Computerized Accounting allows Accountants to trace erroneous data and entry in a creative and organized manner through the help of summaries, list of accounts and original entries. Article Source: http://EzineArticles.com/?expert=Jason_Tsang Article Source: http://EzineArticles.com/7017983 Computers are extensively used in accounting and there are multitude of computer software for Accounting, MIS, CRM. HiTech Financial Accounting is one such software which has been customized for users in many segments in business and services. Payroll accounting was the first commercial area to become widely computerized. The calculation of wages or salaries involves a number of variables which relate to the personal details of each employee, such as gross pay or rate for the job, individual deductions, tax liabilities of the employees and so on. These facts can be retained in the computers and processed every month of produce pay slips for the employees. The computer helps to exercise the type of stock control needed by the organization. It up to dates the sales and purchases records, determines optimum re-order levels for different items and prints out the stock lists when desired. The system can be so designed that it triggers orders when stock level reaches order point for variou s material items; tests those item which are slow moving or gives list for over stock items. Programming can be done for any sales accounting system. The computer will pin point defaulting debtors, determine the right limit for credit for each debtor and maintain stores ledger. Costing and budgetary control can be affected through the computer, the computer will point out the variations from the planned performance.The computer also helps greatly in production planning and control. It is possible that scheduling of the work may become necessary due to break downs etc. A new critical path may have to be worked out. A critical path is the shortest path to be followed in production to achieve production objectives. The computer helps the management lay down this new critical path. The increasing competition and the highly demands of globalization, Malaysia government attempt for Small Medium Enterprise, SME for the development of innovative, competitive with high technology. Computerized accounting system (CAS) adoption may be decisive factor for an organization to be success and also to survive. This research project which aimed to investigate SME practice of CAS and to identify the factor affecting the adoption among SMEs in Melaka. A survey was carried out through a set of questionnaires to examine the CEO Innovativeness Factors Scale, Perceive Usefulness Factors Scale, Perceive Ease of Use Factors Scale and Business Competitiveness. The sample selected comprised of CEOs of SMEs in three districts in Melaka, namely Melaka Tengah, Alor Gajah and Jasin. The data gathered were coded and analyzed using descriptive statistics, linear regression analysis, Pearson Correlation analysis and Analysis of Variance (ANOVA).This study reveals that CAS adoption rate in SMEs in Melaka is high. Results from the analysis also shown the significant of independent variables and proved the relationships have been substantiated to the dependent variable which contribute to the usage of CAS adoption between SMEs in Melaka. The findings indicate that CEO innovativeness; perceive ease of use and business competitiveness negatively correlated to the adoption of CAS. Results reveals that only perceive usefulness are significantly positive correlated to CAS adoption. Therefore it can be deduced that adoption of CAS among SMEs in Melaka is caused by its usefulness. The findings reveal that types of business and business location influence the adoption of CAS. However, size (paid up capital, sales turnover and number of employee) do not influence the adopter. Results also indicate that CEO literacy on ICT, accounting and CAS has influence the responded CEO to adopt CAS in their business. However, the advantages by using the accounting systems software were not fully utilized by CAS adopters. http://www.ccsenet.org/journal/index.php/ijbm/article/view/18273