Management Assignment Example | Topics and Well Written Essays - 750 words

Management - Assignment Example 3120 ETRA Prof. Booke September 11, 2012 (About two – three inches below, type and sign the following statement): By my signature below, I hereby certify that this is my own individual work and it has been completed without anyone else’s assistance. Print Your Name Your Signature Baruch College Prof. Booke Department of Management Fall 2012 Dealing With Dilemmas in Business Read the scenarios below and then answer the questions that follow. As you read, please understand that there isn’t any particular right or wrong answer to the questions. Rather, this is an assessment of your ability to recognize and resolve important issues that you might encounter in the business world. Please answer each question as fully as you can in complete sentences. Do not assume any specific facts except those provided in the introduction and in each individual scenario. Do not assume that facts in one scenario can be applied to any other. This is to be an individual assignment and s hould not be discussed with anyone. Introduction (applies to the first three scenarios) Robert is the managing partner of a small accounting firm called Accountants LLC. The firm, based in downtown Manhattan, employs 10 accountants and a 5-person support staff. It provides accounting and audit services throughout the metropolitan area. Scenario A After the company enjoyed a good year in 2010, Robert was thinking about giving bonuses of 15% for all members of his staff. Early in 2011, Robert received an e-mail from his cousin, Nancy, who graduated from Baruch College with a BBA in accounting in December 2010. Nancy is in the United States on a student visa. She tells Robert that if she does not get a permanent job in the United States within two months, she will have to return to her country of birth where there is little work for American-educated accountants. Although Accountants LLC was not specifically looking for an additional accountant, and after thinking about it for some tim e, Robert decides to hire Nancy as a entry-level accountant in order to allow her to remain in the United States. To find funds for hiring her, Robert decides to forego awarding the 15% bonuses he was considering and instead orders a bonus of 12%. 1. What do you see as the issues raised by the facts in the scenario? Describe as many as you see. There is a perceived circumvention of the law that Nancy was employed only to ensure her stay in the country. The other employees are deprived of their rightful increase because of one person. There is the issue of nepotism because Nancy’s hiring was mainly because of Robert’s cousin. 2. What do you see as the consequences of Robert’s decision? There will be overemployment since there is no need for another accountant that will further cost the company by compensating an unnecessary employee. The other employees may be also possibly alienate Nancy upon knowledge that their bonus was cut down because of her. 3. What altern ative courses of action did Robert have? Robert may have opted to forego his cousin’s plea since he does not need a new employee. Further, her addition may be detrimental to the dynamics of the company. 4. If you had been in Robert’s place, what would you have done? Explain. If I were Robert I would first look at Nancy’s qualifications and find out if she could possibly be an asset to the company. If I find that she will not

Monopoly...is a great enemy to good management. Adam Smith, (1776), Essay

Monopoly...is a great enemy to good management. Adam Smith, (1776), The Wealth of Nations, Book I, Chapter XI. Discuss - Essay Example In the light of this statement therefore this question involves the discussion of the various market structures and their contribution to the achievement of the highest possible level of allocative and productive efficiency (in both static and dynamic senses).The question already suggests that the Monopolised market structure is not conducive to â€Å"good management† or efficient resource allocation. Resource allocation in a modern economy demands allocative efficiency which means that resources should be allocated to match the wants of society. Essentially this would mean a point of allocation where no redistribution would enable one individual to be made better off without making someone else worse off. Allocative efficiency would therefore consider both the consumer (demand) and the producer (supply) and that it should satisfy the needs of both. This essay will mainly discuss the two main extremes of competing market structures i.e. monopoly and perfect competition and to a slightly lesser extent similar models along the vast range of economic models falling halfway between these extremes for example Oligopolies. Perfect Competition represents the efficiency achieved by an industry which has extensive competition and almost no interference in the market forces either by the sellers or buyers or the government. Monopoly on the other hand represents a rather inefficient means of market structure characterised by lack of competition and extensive market control. 3.The reason the statement by Adam Smith seems to resent Monopoly power is because of the complete market control by the monopolist who as the only seller in the market will control the supply of goods in the market and is able to influence the price of its product sometimes in an unfair way. Perfect competition, in contrast is preferred in this regard as a market structure where each firm has neither got any significant