Models of Consumer Decision Making - 554 Words

How do consumers choose what products they are going to buy? Do they blindly walk in to a store and choose the first thing they see, or is there a science behind their behavior of buying? This is a question that has plagued researchers for years. Millions of products are bought worldwide every day, but what drives consumers to buy what they do? The book, Consumer Behavior, states that there are four views of consumer decision-making. These views are considered to be models of consumers (462). These models â€Å"refer[s] to a general view or perspective as to how (and why) individuals behave the way they do (462). The models are split into four different views of consumer behavior in the marketplace: an economic view, a passive view, an emotional view, and lastly, a cognitive view. This paper will focus solely on the cognitive view and the arguments that defend this way of consumer decision-making. In the cognitive view, consumers are seen as the thinking problem solver (â€Å"Menta l Processes Part 2†). The first criticism surrounding the cognitive view is that â€Å"consumers are either receptive to or actively searching for products and services to fulfill their needs and enrich their lives â€Å"(463). This means that consumers are constantly looking for products that have some purpose to them, and they tend to not buy items that do not provide some fulfillment or use. An example of this would be a man is aggravated because his dirty dishes are pilling up and he does not own a dishwasher. HeShow MoreRelatedCritical Analysis of Consumer Decision-Making Process Model5350 Words   |  22 Pagescritically analyse 2 chosen consumer decision process models, the KBM model by Kotler, Bowen and Makens (2006) and the BEM model by Blackwell, Miniard and Engel (2006) if they are vague or/ and all-encompassing in hospitality industry today with relevant industry examples. Secondary research is used to conduct data to support the author’s argument. Consumer behaviour in hospitality industry today is changing by the impact of globalisation and post-modernism; consumers became more price-sensitiveRead MoreCognitive and Behavioural Model1364 Words   |  6 PagesThere are two models that we will analyze in this essay to see which is the most suitable approach to understand consumer behaviour, they are cognitive and behavioural models, there are actually three models lies within initial decisions of consumer behavior, the third one is reinforcement model but in this case we will not analyze it. First of all, the way of starting off the essay is by defining both cognitive and behavioural models found from the journals, followed by comparison between the twoRead MoreConsumer Behaviour1699 Words   |  7 PagesA MODEL OF CONSUMER DECISION MAKING The process of consumer decision making has 3 stages: input stage, process stage and output stage. The input stage influences the consumer’s recognition of a product need and consists of 2 major sources of information: 1) the company’s marketing efforts (product, price, promotion and price) and the external sociological influences on the consumer (family, friends, neighbours other informal and non-commercial sources, social class and cultural and subculturalRead MoreAdult Decision Making Process Essay1153 Words   |  5 PagesAdult Consumer Decision Making Process Adults have to make many decisions each day, decisions selecting one option over another. How adult consumers make decisions to buy have been studied by marketers to sell their products and services. Marketers have several views of consumers with different perspectives of how individuals make decisions: economic, passive, cognitive, and economic views. However, there is a decision making model that reflects all of the views. First, we will discuss the processRead MorePersonality Type Consumer Behavior824 Words   |  4 Pagestype and its effect on Consumer Behavior† | | | | Submitted by: Ashu Gurtoo | 09bshyd0186 | Project Proposed: â€Å"Personality type and its effect on consumer behavior† Description of the project: We will first try to understand what is consumer behavior What do we really want to study when we say that we want to study consumer behavior? * Why consumers make the purchases that they make * What factors influence consumer purchases * WhyRead MoreThe Relevant Theories Of Advertising1354 Words   |  6 PagesRelevant Theories of Advertising When discussing within the advertising sector, a universally praised model must to mention is AIDA-model. Lewis (1898) first proposed the concept to describe the steps of consumer behaviour that occurred from the time when a consumer first became aware of a product or brand through to when the consumer tried a product or made a purchase decision (Priyanka, 2013). The model had four psychological stages including awareness, interest, desire, and action (Hassan et al., 2015)Read MoreA Good With Luxury Brand1498 Words   |  6 Pageswhat are consumers’ main concerns when purchasing luxury goods online in China, which are divided into three parts for better analysis in next section. What’s more, it should also be mentioned that all of the articles are well selected and they are also in different levels and depths and for various aspects regarding the topic of the online shopping investigation for luxury brands in China. 2.1 The Background of Online Purchase Decision-Making Behavior To begin with, a purchase decision is a finalRead MorePurchasing Behaviour - Consumer Modeling1219 Words   |  5 PagesChapter 13 Consumer Modeling Things to learn in this chapter: †¢ Engel, Blackwell and Miniard model. †¢ J.N.Sheth model of industrial behaviour. †¢ Nicosia model. Engel, Blackwell and Miniard model The core of the EBM model is a decision process, which is augmented with inputs from information processing and other influencing factors. The model has four distinctive sections, namely Input, Information Processing, Decision Process and Variables influencing decision process. InformationRead MorePerceptions And Attitudes Of The Consumer Buying Process1000 Words   |  4 Pagesaffect consumer buying behavior therefore marketers are interested in them. Marketers can change the beliefs and attitudes of customers by launching special campaigns in this regard. To change the brand s marketing message or adjust its positioning in order to get consumers to change their brand perception. Stages of the Consumer Buying Process Six Stages to the Consumer Buying Decision Process (For complex decisions). Actual purchasing is only one stage of the process. Not all decision processesRead MoreConsumer Behaviour Essay1310 Words   |  6 PagesCase Study: Consumer behaviour and holidays In this assignment I will be analysing the following; a case study presented on how holiday decision making varies from the traditional problem-solving model of consumer decision making. Q1 By analysing the traditional problem-solving of consumer decision making you can grasp that the market of holiday makers is more complex. The traditional method follows the concept that the consumers desire or needs creates a problem within the individual, which leads

4dep Essay example - 1255 Words

Developing Yourself as an Effective Human Resources Practitioner 4DEP Foundation Mr Janis Tiesnieks 2016 Contents CIPD Profession Map 3 Behaviours 4 Bands 5 Role of HR 6 Effective communication 7 Communication methods 7 Effective service delivery 8 CIPD Profession Map The standards set out in the CIPD Profession Map, developed in collaboration with HR and Lamp;D professionals, senior business people, academics and their organisations across the world, aim to set the bar high, based on research for last five years. They determine what the best HR and Lamp;D professionals and organisations are doing, what they know and understand, to really make a difference and drive the performance of the organisation.†¦show more content†¦Behaviours are * Curious Is future-focused, inquisitive and open-minded; seeks out evolving and innovative ways to add value to the organization. * Decisive Thinker Demonstrates the ability to analyze and understand data and information quickly. Uses information, insights and knowledge in a structured way to identify options, make recommendations and make robust, defendable decisions * Skilled Influencer Demonstrates the ability to influence to gain the necessary commitment and support from diverse stakeholders in pursuit of organization value. * Personally credible Builds and delivers professionalism through combining commercial and HR expertise to bring value to the organization, stakeholders and peers. * Collaborative Works effectively and inclusively with a range of people, both within and outside of the organization. * Driven to deliver Demonstrates determination, resourcefulness and purpose to deliver the best results for the organization. * Courage to Challenge Shows courage and confidence to speak up skillfully, challenging others even when confronted with resistance or unfamiliar circumstances. * Role model Consistently leads by example. Acts with integrity, impartiality and independence, balancing personal, organization and legal parameters. Bands The Profession Map knowledge and activities in the ten professionalShow MoreRelated4dep601 Words   |  3 PagesTitle Developing yourself as an Effective Human Resources or Learning and Development Practitioner Introduction ------------------------------------------------- Word count from here. Approx 600 words. 1.1 HR Profession Map (HRPM) CIPD Profession Map identifies different professional areas within HR, different behaviour types associated with professions, and bands which determine the level an individual is at (e.g, Admin, Manager, Director etc). Members of the CIPD website canRead MoreAssessment 4Dep1178 Words   |  5 Pagesï » ¿CIPD Foundation CERTIFICATE in human resource LEVEL 3 4DEP ASSESSMENT 01 Activities 1 The Human Resource Professional Map (HPRM) Activity 01 Introduction: The Human Resource Map (HRPM) was developed by the CIPD it was created by generalists and specialists within the CIPD/HR environments to explain how HR add value to any organisation within the UK and around the world. The (HRMP) is a guideline/benchmarked on line tool which can help individuals and organisations identify immediate andRead More4dep1770 Words   |  8 Pages4DEP Assessment 1.1 - Explain the knowledge, skills and behaviours required to be effective in an identified HR role. The CIPD professional map determines what HR professionals should know and understand to make a difference to their organisation. The map can be used in its form or in part or be incorporated into organisation’s existing competency structure. The map highlights ten professional areas with the centre of the map focusing on the two core areas which sit at the heart of theRead More4dep1708 Words   |  7 PagesHR PROFESSION MAP HR Profession Map is an online self-assessment tool for CIPD members. It can be used to assess your capability against the activities, knowledge and behaviours in the CIPD Profession Map and access recommendations for development. HRPM describes knowledge, activities, skills and behaviours that any HR professional needs to posses to be successful in their HR role. It consists of ten professional areas including two core areas which are Strategy, Insights and Solutions and LeadingRead More4dep747 Words   |  3 PagesActivity One This report intends to help in the understanding of the CIPD Human Resource Professional Map (HRPM). The HRPM was designed by the CIPD with the intention of helping the individual develop themselves as a successful Human Resource Practitioner, whilst providing a guideline to businesses, big and small. It highlights the professions and behaviours needed in order to progress successfully up the career ladder. It is broken down in to two central cores. * The first core is InsightRead More4dep912 Words   |  4 PagesWrite a report in which you: †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   briefly summarise the CIPD professional Map (i.e. the core areas, the professional areas, the bands and the behaviours) †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   comment on the activities and knowledge specified within any 1 professional area, at either band 1 or band 2, identifying those you consider most essential to your own (or other identified) HR role. The HR Professional Map is designed to identify the skills and behaviours all HR practioners should portray within their roleRead More4DEP Activity 1894 Words   |  4 Pagesï » ¿ Unit 4DEP (HR) Activity 1.1 Summary of the CIPD HR Profession Map The HRPM is a visual illustration of the activities, skills and behaviours required to be effective in an HR role. It based on information and best practice shared globally by HR professionals. Many organisations around the world now use it to benchmark their HR capability. The map is designed as follows: At the core of the HRPM are two crucial areas: Strategy, Insights Solutions Develop an understandingRead MoreCIPD 4DEP3320 Words   |  14 PagesActivity 1 The HR Profession Map shows in few steps how professionals could become a value within the organisation in which they work. It has been created by the CIPD for anyone who wants to upgrade and develop own career or for any other who wants to start working in the HR field. It describes what people need to do and to know and how they need to do it. For this reason the map covers all the professional areas within the HR field, giving the knowledge to become an effective and successful HRRead More4DEP Assignment 2389 Words   |  10 Pagesï » ¿4DEP Activity 1 1.1 HR Profession Map It is created by the profession for the profession, as a development tool to decipher the HR capabilities of individuals, teams and organisations. It can show areas that you need to improve or identify achievements to assist with development in your career path. It can identify skills needed, capabilities in the team and show where progress is needed. Core: Insights, Strategy and Solutions The heart of the map, is having the knowledge and understandingRead MoreCipd - 4dep-a Essay686 Words   |  3 PagesAssessment 4DEP – Activity A CPD stands for Continuing Professional Development and is a means of supporting people in the workplace to understand more about the environment in which they work, the job they do and how to do it better. As an initiative, CPD was largely unknown until at least the 1960s. Professional bodies only started to take systematic steps to ensure their members continue their development on an ongoing basis within the last ten to fifteen years of the twentieth century. Recognition

Design of an Awareness Campaign The Diversity & Inclusion

Question: Give the literature review on awareness campaign This is where you will critically evaluate the area of diversity to inform your awareness campaign. Awareness Campaign Material: Supporting Material which can include: poster design, or flyers? Answer: Introduction The most widely recognized explanations behind meeting expectations late are workload weight, discovering time to do fitting work arranging and considering (54%) and working environment society and executive desires. Longer meeting expectations hours are connected with more elevated amounts of tension and lower levels of satisfaction. Just about a quarter of folks feel that work and family life are in the consistent clash while thirty-five percent of folks express that their work influences their home life in a negative manner. Less than a large portion of folks leave chip away at the time consistently while 44% say that they can escape just fifty percent of the time or less, with nine percent never leaving on time (Darcy et al., 2012). Right around a third thirty-one of folks report that there is no adaptable chipping away at offer where they work. While over a large portion of sixty-six of folks do work adaptable. More than 1 in 5 UK grown-ups have seen their work contrarily affected as an aftereffect of minding twenty tow percent with 2.3 million careers having stopped work and right around 3 million careers having lessened their working hours. The normal UK representative who drives now burns for 54.6 minutes every day venturing out to and from work (4 hrs 24 minutes every week) (Palmer, 2012). Equivalent Approach perceive the significance of work-life equalization and its something we continually screen inside our own workforce, we likewise bolster our customers to advance work-life adjust through a scope of administration devices and systems to bolster them to pull in, enlisted person and hold a differing workforce (Ramya Kannan, 2013). Literature Review: Work-Life Balance A typical confusion of work-life offset is that it is exclusively concentrated on folks and/or careers, which is essentially not the situation. Each of us put a great deal of time in our work - for those working in a "commonplace" full-time part, there are 227 working days every year. In the event that include longer meeting expectations hours, over the long run and checking messages and taking a shot at nighttimes/ weekends and days off, it's anything but difficult to perceive how function can assume control over individuals' lives. Work-live adjusts influences, and everybody one of us and organizations need to comprehend and perceive the significance of it (Darcy et al., 2012). Work-life parity means something other than what's expected to each of us, and how you decide to allot time to your 24 hours in a day, is close to home to you. Everybody has an obligation regarding dealing with their own particular vocations and a key piece of this is close to home wellbeing, which is straightforwardly related to what is regularly alluded to as 'work-life offset (Moen, 2015). The principal outcomes of not having the offset right can be groundbreaking - the advancement of medicinal conditions with long lasting ramifications and crumbling seeing someone are only two of various illustrations. One will know when you're reeling, when you can't allow your telephone or tablet to sit unbothered, when work is number one need over everything else, or when you overlook or move individual arrangements to clear a path for work. Neglect, the absence of efficiency, losing your edge are all recommendations you're your work-life equalization is out. It is not simply the weight which workaholic behavior puts on us our wellbeing and our wellbeing, and it is likewise the effect it has on our families and companions (Johnson, 2013). The UK has a repulsive propensity for measuring achievement and profitability by presenters, i.e. whoever is in the workplace the most, works the hardest. There is a supposition that the individuals who stay later are better at their employments, and this couldn't be all the more off-base. This kind of society has a contrary effect on profitability as individuals tackle more work than they can deal with, affecting their efficiency and their lives and wellbeing (Jang, Park Zippay, 2011). In Europe, it is seen as a contrary thing to stay late at work, and those individuals who do are seen as not being sorted out, or not buckling sufficiently down. In France, they have lawfully implemented a 35-hour working week, and there is currently new guidelines to keep workers from being committed to reacting to their manager's messages which are sent outside of working hours (Daly, 2012). My own perspective is that a reliable work-life offset is hopeful, and to have both in impeccable adjust the greater part of the time is unachievable. Both work and family/ different responsibilities are gigantically variable parts of lives and the measure of time we have to/ or have the capacity to commit to each are continually evolving. There are times in our lives when work-life offset is more troublesome, with one side taking need, for instance; when we have new increases to the family, when we have minding obligations, when we are in amazingly occupied periods at work, and it's those times when we truly need to take a seat and consider how we can make the vital moves to guarantee that we're ready to achieve a bargain (Bae, 2015). It's anything but difficult to invest a great deal of energy examining the work-life equalization point and much has been composed about it, however as I would like to think I have observed that in the event that we acknowledge that a ceaseless offset is unachievable and that there must be bargains, and then 50% of the weight is evacuated quickly, and desires are overseen. Consider it a solid eating regimen, one day you may treat yourself to something devious, yet the following you may eat truly beneficial to adjust, it is about discovering a trade-off between the two (Khan Agha, 2013). Work-life parity is incompletely the obligation of your Manager/ association, yet principally it is your obligation and its down to you how you deal with your time. In these 18 tips, I will give you inconspicuous, however, regular changes which you can execute straight away, which can have an immense effect on your wellbeing, your connections, your profitability and your general joy (Palmer, 2012). Better Work-Life Balance Program Tips 1. Be the First to Leave Tomorrow: Be enabled to be the first to leave your office tomorrow. Appreciate returning home at a sensible hour and take advantage of the warm night. Make a promise to leave on time in any event twice a week and do something useful with your additional time. 2. Directors - Be Realistic: When you are a compulsive worker or a night owl that is fine, yet don't be disillusioned if your colleagues don't impart your attitude - concur a code for 'business basic' messages or calls, so your group know it is vital to react promptly, however, utilize it sparingly, abuse makes it counterproductive. 3. Deal with Your Diary: Try not to let your journal get completely occupied, this not just gives you under added weight something to do level out constantly, yet it likewise confuses things if other individuals need to revamp. Plan every day with 2/3 need undertakings and plan to chip away at them amid your 'top execution time' - for a few this may be first thing in the morn ing before you get immersed with messages, others may work better and gather all the more toward the evening or even the nighttime. 4. Safeguard Your Energy: Be merciless with assignments, which take your vitality - Do you fear them? Is it true that they are key? Can they be done distinctively or all the more proficiently? Take a gander at these errands and talk about them with your Manager, and figure out how to quit applying your vitality pointlessly. 5. Reconsider Personal Chores: This isn't fundamentally the cleaning up and pressing, it is those little tasks like calling the service organization, or making therapeutic or dental arrangements - distribute one lunchtime every week or month to finishing these errands in one go, and make an individual schedule of them so you don't to stress over recollecting that them. 6. Exercise: This doesn't fundamentally mean immense workouts in the rec center consistently with a fitness coach, and this can be incorporating essential activity with your day. It can be as basic as awakening minutes prior and going a stroll before work, getting off the transport a stop early and strolling whatever is left of the way, taking the stairs rather than the lift and strolling to the grocery store for your sandwich at lunch as opposed to going in the auto. You ought to be going for 10,000 stages a day, which is more than you would, might suspect. Leave a couple of mentors in your work area and begin a 'mobile club' with associates to escape from the workplace for 20 minutes at lunch time, this is an awesome approach to get some activity and address partners you wouldn't ordinarily draw in with. Investigative exploration demonstrates the increment in efficiency and adequacy with only 10 minutes of activity, which can without much of a stretch be incorporated into any day (Tariq et al., 2012). 7. Unwind: The force of unwinding shouldn't be thought little of. It is vital, even in the most rushed of days, that you stop and require some serious energy to unwind, regardless of the fact that it is for just 10/15 minutes - this could be sitting in the auto with the radio on, perusing a book on a recreation center seat, or closing your office entryway and closing your eyes for 10 minutes. Exploration demonstrates a feline rest of 20 minutes a day can build efficiency drastically (Sirgy Wu, 2013). 8. Request Help: On the off chance that you workload is absolutely unmanageable in the time you are grinding away, you have to request help - this could mean you need to be expanded preparing and advancement, or it might be that the workload is absolutely impossible and unmanageable - whichever way convey and request help, engrossing such weight is not beneficial. 9. Evacuate "Impeccable" From Your Vocabulary: Try not to endeavor to idealize on each and every thing you do, arrange thos e zones you can't bargain on, and after that convey the rest to the best of your capacity (Shanafelt et al., 2012). 10. Maintain a strategic distance from Adrenalin Addiction: A few of us adore the adrenalin surge of being popular, and excessively occupied - this is fine short term, however, shouldn't turn into the standard - again this is unsustainable in the long haul (Trower, 2012). 11. Try not to be a Martyr: Office saints over-burden themselves with work, deny help or want the representative to associates to be perceived as their work. At that point groan about it! Working too hard can regularly hurt as opposed to upgrading your profession prospects. 12. Telecommute: Whilst this includes bunches of adaptability this can frequently bring about more meeting expectations hours and less movement. Telecommuting could include an extra meeting expectations day of time to your working week in the event that you drive into the workplace day after day, so you ought to utilize this additi onal time to issue you favorable element. At the point when working for home its essential to make a workspace that you need to endeavor to go to, whether that be a committed office, save room or shed. It's essential to make the refinement in the middle of home and work. Make clear to relatives or guests what telecommuting means, so you allay the anxiety of needing to the motion to individuals whilst you are on the telephone and so forth. At the point when telecommuting its anything but difficult to fall into the trap of never exchanging of, be restrained with innovation, kill your telephone or tablet at 8pm and put it far from where you are so you are not enticed to take a gander at it and speak this with your manager or group (Wang Verma, 2012). 13. Say No: Be practical there comes a point where you can't do everything for everybody. Know your cutoff points and figure out how to say NO. 14. Keep Days Off and Weekends Precious: Utilize your days off and weekends to revive your vitality levels, so you are back to your best when you come back to work. Dodge unnecessary work and arrangement exercises that will lessen stress. 15. Assume Liability for your own Wellbeing: Your wellbeing is your own obligation, so on the off chance that you discover you are creating issues make a move before they get to be more genuine. 16. Stop for Meals: There is nothing more awful (or more unhygienic) than having your lunch at your work area, and you are generally diverted, eat it rapidly and are taking a gander at the web whilst you do it. A short break to eat your dinner smoothly and gradually far from your ordinary work space can have tremendous profitability advantages. 17. Set aside a few minutes for a Holiday: On the chance that the considered wanting to take a week or two off fills you with fear you have to ponder your work-life parity, yet in the event that that is truly unreali stic, form in general long weekends toward the start of the year to issue you a pit stop and time to rest. Where conceivable tag an additional day or two onto every end of your vacation to take a percentage of the weight off and let you come back to work without plane slack (Palmer, 2012). 18. Get More Sleep: The ideal helpful time for slumber is 10pm - 6am in an obscured room. An absence of slumber influences profitability and has an emotional impact on your wellbeing and wellbeing, after just 72 hours of lack of sleep your psychological well-being is influenced (Zutshi, Pogrebnaya Fermelis, 2014). Conclusion Likewise with many aspects in life, balance is the main issues. Individuals who are continually fixed to their employments manage the manifestations of anxiety and burnout. Exhausted representatives are more prone to endure well-being issues, more like to be non-attendant and/or wiped out, less effective, less amiable, and general more hard to work with. It is to the greatest advantage of both the representative and business to maintain a strategic distance from these barriers via brilliant human asset administration. References Bae, J. (2015). The Impact of Social Capital on Men's Mental Health from the Perspective of Social Support Theory. International Journal of Japanese Sociology, 24(1), 65-77. Daly, J. (2012). Human resource management in the public sector: Policies and practices. ME Sharpe. Darcy, C., McCarthy, A., Hill, J., Grady, G. (2012). Worklife balance: One size fits all? An exploratory analysis of the differential effects of career stage. European Management Journal, 30(2), 111-120. Jang, S. J., Park, R., Zippay, A. (2011). The interaction effects of scheduling control and worklife balance programs on job satisfaction and mental health. International Journal of Social Welfare, 20(2), 135-143. Johnson, T. L. (2013). Supervisor Attitudes and Behaviors Toward Work-Life Balance Policies and Programs (Doctoral dissertation, WALDEN UNIVERSITY). Khan, S. A., Agha, K. (2013). Dynamics of the Work Life Balance at the Firm Level: Issues and Challenges. Journal of Management Policy and Practice, 14(4), 103-114. Moen, P. (2015). An Institutional/Organizational Turn Getting to WorkLife Quality and Gender Equality. Work and Occupations, 42(2), 174-182. Palmer, S. (2012). Multimodal coaching and its application to workplace, life and health coaching. Coaching Psykologi-The Danish Journal of Coaching Psychology, 2(1), 91-98. Ramya, T., Kannan, A. C. (2013). Enhancing quality of work life through work-life balance. In Tenth AIMS International Conference on Management 2013 proceedings of the international conference in Bangalore, India (pp. 2977-2984). Shanafelt, T. D., Boone, S., Tan, L., Dyrbye, L. N., Sotile, W., Satele, D., ... Oreskovich, M. R (2012). Burnout and satisfaction with work-life balance among US physicians relative to the general US population. Archives of internal medicine, 172(18), 1377-1385. Sirgy, M. J., Wu, J. (2013). The pleasant life, the engaged life, and the meaningful life: What about the balanced life?. In The exploration of happiness (pp. 175-191). Springer Netherlands. Tariq, A., Aslam, H. D., Siddique, A., Tanveer, A. (2012). Work-Life Balance as a Best Practice Model of Human Resource Management: A Win-Win Situational Tool for the Employees and Organizations. Mediterranean Journal of Social Sciences, 3(1), 577-85. Trower, C. (2012). Gen x meets theory x: What new scholars want. Journal of Collective Bargaining in the Academy, (1), 11. Wang, J., Verma, A. (2012). Explaining organizational responsiveness to work life balance issues: The role of business strategy and high performance work systems. Human Resource Management, 51(3), 407-432. Zutshi, A., Pogrebnaya, M., Fermelis, J. (2014). Wellness Programs in Higher Education: An Australian Case. Handbook of Research on Higher Education in the MENA Region: Policy and Practice: Policy and Practice, 391.

Report about the Research in Accounting Practice

Question: Write a report about the issues faced by Strong Built Construction Company based upon financial accounting in simple form. Answer: Introduction This study deals with issues faced by Strong Built Construction Company based upon financial accounting in simple form. Strong Built Construction Company is Construction Company and maintains revenues at similar levels. Bill strong was the founding Director of Strong Built Construction Company (Spiceland, Thomas and Herrmann 2011). Strong Built Construction Company faced various issues that arise from profitability as well as compensation of executives. This particular construction company faced government interference in case of austerity measures. Bill has dynamic personality as well as high public figure in the construction industry. This study addresses issues for approaches to compensation. Typical elements of compensation packages of Strong Built Construction Company There are various primary elements of compensation for Executive officers including base salary, annual bonus in cash as well as long-term incentive award. It is mainly denominated in shares in case of company stock. Executive officers of Strong Built Construction Company get benefits as well as perquisites as intended part of competitive compensation packages. It includes health, retirement programs as well as welfare and savings (Scott 2012). Elements of Compensation of Strong Built Construction Company Pay Element Description and Purpose Target Pay Level Base Salary It mainly compensates depending upon day-to-day performance at executive level of responsibility. It is based upon executive skills, accomplishments as well as experience. Base salaries considers under fixed compensation in cash as well as short-term. It indulges approximately at or below median in case of peer group Annual Bonus It indulges in motivate as well as reward as current year results for three years. It aligned efforts in achieving specific measurable results. Bonus considers variable compensation based upon annual performance paid in cash It is combined with base salary as well as target bonus opportunity at or below median group. Employee Benefits It includes protecting against catastrophic expenses as well as loss of income. Health, disability as well as life insurance plans comes under employee benefits There are several features like savings as well as pension programs for preserving or restoring benefits as per IRS rules. Executives mostly participate in form of restoration features by other employees It is combined with value in or above median in case of general industry Long-term incentives It depends upon motivating reward long-term results for three years. It aligns efforts for achieving specified measurable results as well as increased market price of company stock. Long-term incentives considers as variable compensation based upon long-term company performance as paid in stock. It is combined with base salary as well as target bonus opportunity and target long-term incentives at or above median peer group. Post-termination compensation It helps in providing basis for rapid transition as fair to executive as well as temporary income in case of involuntary termination It is combined with value in or above median in case of general industry Perquisites It initiates assisting ways for attracting as well as retaining executives as talent in form of practical value for particular company It is combined with value in or above median in case of general industry Key assumptions of traditional agency theory and approaches to compensation of Strong Built Construction Company Agency Theory is a popular concept in economics, finance as well as law literatures. It mainly focuses on divergent interests as well as goals of stakeholders in an organization (Scott 2011). It reveals ways in case of employee compensation in alignment with interest as well as goals at the same time. Ownership as well as management separates from Modern Corporation by the same person. Most of the stockholders remove from day-to-day operations known as agency costs. These costs arise mainly from the interest of principals as well as owners as agents and managers. Agency costs mainly include management spending money especially on prerequisites like superfluous corporate jets. Agency theory considers as value in analysis as well as design by non-managers compensation (Schroeder, Clark and Cathey 2011). Divergence of interests exists between manages as well as employees at the same time. Difference between extrinsic and intrinsic motivation in Strong Built Construction Company Intrinsic Motivation Extrinsic Motivation The literal meaning of intrinsic is internal or inside of oneself The literal meaning of extrinsic is external or outside of oneself Person who are intrinsically motivated, they enjoy activity as well as skill satisfaction in developmental for satisfaction of learning. It strides inwardly activities for competent activities (Riahi-Belkaoui 2012). Extrinsic Motivation is used frequently in and within society throughout lifetime. There is no particular inducement in case of intrinsic motivation as key behaviour in final outcome It depends upon the motivating factors in achieving as well as learning in regard with outcome It is important to consider the fact that argument lies in the difference between intrinsic as well as extrinsic motivation. Intrinsic motivation derives from self-concept, internal need as well as core beliefs and development in opposed to extrinsic motivators at the same time (Previts, Walton and Wolnizer 2011). Motives requires in additive in effective like motivating oneself in engaging towards behaviour. It continues as well as persists in a particular behaviour. Employees attitude to risk influence as their desired compensation package in Strong Built Construction Company Most of the organization continuously faces mounting competitive pressures as well as seeking ways for better quality assurance. Goals of organization are checking on sales volume, profits as well as innovation and quality for future employment growth. It takes substantial cuts for employment considerations (Libby, Libby and Short 2011). It accomplishes fewer employees calls in case of effective management of human resources. As far as employee compensation system, it focuses on managing human resources in better way. Employee compensation is one of the factors that play important role for employees as well as employers. Employees widely depend upon wages as well as salaries in the most appropriate way (Leung 2011). It provides large share in case of income as well as benefits in case of income and health security for the same. From the viewpoint of employers, compensation greatly influences cost of rendering business as well as ability in selling at competitive prices in product mar kets. Compensation decisions depend upon employee ability in competing for employees in the labour market. It depends upon the attitudes as well as behaviours by the employer (Kester 2012). Time period when employees receives financial benefit in Strong Built Construction Company Strong Built Construction Company engages in receiving financial benefits for employees working in the particular company. Employee benefits known as fringe benefits considers as indirect form of compensation (Horngren 2013). It provides healthy relationship between employers as well as employees. It requires competing with quality employees in global marketplace as well as rendering fair benefit packages on specified time. Employees receive compensation from Strong Built Construction Company in return of work performed on monthly basis. Compensation relates with all form of financial returns as well as tangible services and benefits as part of employment relationship in an overall manner (Hendriksen and Van Breda 2012). Financial returns depend widely on the base salary as well as short and long-term incentives. Strong Built Construction Company compensation practices have far-reaching effects especially on its competitive advantage. It requires developing competitive advantage in e ngaging in strategic plans as well as actions in desired form. Labour costs affects on competitive advantage in representing large portion of Strong Built Construction Company operation budget in the near future (Glautier, Morris and Underdown 2011). Role in fairness considerations in determining compensation Strong Built Construction Company should determine fair compensation packages for employees working in the particular business organization. This particular construction company perceives fairness of employee rewards for future analysis purpose (Freeman 2011). Idea of fairness determines for making extra effort in reaching towards organizational goals as well as objectives at the same time. It is important for Strong Built Construction Company in ensuring that their employees rewards rooted in case of principles of fairness. According to research, employees perception regarding fairness as well as equitable treatment drives towards core driver of retention. It directly relates with engagement as well as performance of employees in the particular construction company (Dyckman, Magee and Pfeiffer 2011). It requires creating climate of distrust as well as hostility. It erodes performance as well as employee commitment towards Strong Built Construction Company. It reduces willingness of employees in helping each other in need if unfair reorganization takes place in any form. It gives rise to increased unionizing activities as well as voluntary turnover and absenteeism. Employees working under Strong Built Construction Company should be given career development opportunities as well as healthy work atmosphere. Employees are liable in getting fair compensation plan as well as direction of organization. It should mitigate managers as well as supervisory conflicts in all possible forms (Duska, Duska and Ragatz 2011). Executive compensation committee in providing benefits in determining compensation Strong Built Construction Company establishes Executive Compensation Committee in determination of compensation. This particular committee is responsible in establishing as well as recommending to Board in compensation for Strong Built Construction Company (Devi and Hooper 2011). The main philosophy facts rely upon pay for performance. Committee needs to make compensation decisions on ad-hoc basis. Committee overarching compensation philosophy enables in assessing suitability as compensation program components in certain way. It ensures compensation for implementation for determination potential pay. Senior Executives requires paying at risk in comparison with lower level Executives at the same time. One of the important considerations includes incentives at short-term basis as well as longer-term in nature wise (Deegan and Unerman 2011). Structure of executive compensation in achieving best outcomes Strong Built Construction Company pays executive compensation and considers as complex as well as contentious subject. Hugh level of CEO involves in pay-setting process as well as related outcomes at the same time. It includes both managerial power as well as competitive market forces in an overall manner (Deegan and Unerman 2012). It explores on various characteristics in comparison with real-world compensation contracts in way of optimal contracting. It demonstrates compensation features based upon optimal contracting in the most appropriate way. Conclusion and Recommendations At the end of this part, it is concluded that Strong Built Construction Company requires checking on profit before taxes as presented in the financial statements. This report clearly points out elements of compensation packages used by Strong Built Construction Company in carrying out the business activities in desired form. It explains traditional agency theory in accordance to approaches to compensation as far as possible. This particular brings out real financial issues faced by Strong Built Construction Company for future analysis purpose. It explains differences between extrinsic as well as intrinsic motivation for the same. Conclusion At the end of the report, it is concluded that public appears ignorant in case of statute books as well as other document information. It is recommended in educating public on matters relating to duties as well as responsibilities of an auditor in improving the understanding of audit work. 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