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INTERNAL ASSIGNMENT
APPLICABLE FOR SEPTEMBER 2022 EXAMINATION
Compensation
& Benefits
Read the Case and answer the
questions given at the end:-
The firm Egon Zehnder
International (EZI), is an “executive talent search” firm which prefers to
stick to the old-fashioned way of paying by seniority. They believe that in
their business seniority is a key asset since it helps in building intuition
& a good network of contacts of clients across the globe, both of which are
critical for success. For EZI, seniority is the proxy for “experience” which
means that, organizational tenure adds to domain knowledge which betters
performance. However, most Consulting and Law firms believe seniority is
irrelevant. They prefer “pay” to be based on individual performance and so
employees are paid according to the size of their client billings and how good
they are at bringing in new clients. In contrast, at EZI, there is no formal
procedure for tracking the performance of the branches in different countries,
let alone individuals. According to the seniority rule, at the close of a given
year, a ten-year partner in any office will receive a larger share of the
firm’s profits than a five-year partner, even if the ten-yrs partner in the
first office lost money and the five yrs partner in the second office did
exceedingly well.
Accent on Quality Explaining
the huge success of his firm, the founder, Mr Zehnder had this to say,” First,
our approach to compensation forces us to hire consultants who have little interest
in self-aggrandizement. We hire people who are true team players, people who
get more pleasure from the group's success than their own advancement. These
individuals by nature tend to be highly collaborative. They eagerly share
information and ideas about existing and potential clients. Similarly, they
pass around information about the executives who might best meet a client's
need. It is this attitude of sharing and cooperation that is sought from these
incumbents. Second, our seniority-based system requires us to find people who
want to stay with a company for the long haul, and these men and women still
exist who want to spend their entire career with EZI. Tenure builds experience
and this means a Consultant who has a well-developed network of executive
contacts which is immensely beneficial for EZI. We hire professionals who are
not only highly educated-but who are also trustworthy and humble and who want
to work for one company in their entire careers. Such people help the organization
to grow and in the end, everyone wins, from the client to the firm to the individual
professional”.
The Payment System People
join this organization as “Consultants” and later they are allowed to become
“Partners” after they have proved their worth. As Consultants, they are paid
annual bonuses not on the financial value of individual business conducted, but
on how well they have supported their colleagues and how they have contributed
to the firm's reputation as a whole. Performance is not restricted to financial
matters. For instance, if a consultant has published an article in a reputable
business journal, it is marked to his/her credit because the contribution has
benefited the Egon Zehnder reputation. For “Partners”, compensation comes in
three ways; salary, equity stake in EZI, and profit shares. To begin with, each
partner has an equal number of shares in the firm's equity, whether he has been
a partner for 30 years or one year. The shares rise in value each year, because
the Co puts 10% to 20% of our profits back into the firm. When a partner
retires or leaves the firm, he sells back the shares, keeping the difference
between the value of his shares at the time of his election to partnership and
their value at the time of his departure. Obviously, the longer you stay, the
more valuable the shares become. If you stay for five years, your shares will probably
double in value. The remaining 80% to 90% of the profit is distributed among
the partners in two ways. Sixty percent is divided equally among all the partners,
and the remaining 40% is allocated according to years of seniority. Mr Zehnder
further adds,” As we grew, I became more convinced of the fairness of rewarding
seniority. Our system, by rewarding seniority, also helps us build the right
kind of human capital for our profession. I know that seniority is a very
unfashionable idea these days, especially in America, which worships youth and
energy. But in our profession, seniority is a key asset: it is only through
experience that our consultants can hone the intuition they need to operate
successfully in a people-intensive profession. It is also through length of
service that a consultant builds a strong network of contacts”.
Mr Zehnder’s philosophy No
compensation system can work unless it promotes the right kind of behavior
among professionals. Proponents of pay-for-individual-performance systems argue
that their plans encourage managers to generate more revenue, which more than
compensates for any administrative burdens the systems may impose. But those systems
have one great drawback: they encourage people to further their own interests
ahead of the interests of clients and the organization as a whole. People are
the Asset In order to find the “right type” of people for EZI, the interview process
is extremely intensive and their selection has to be vetted by many people
across the hierarchy. Apart from technical and professional questions, personal
questions are also posed to the candidates, mainly to know whether the person
has integrity, whether he/she is honest, sincere and adheres to a proper value
system. This testing of “integrity” and attitude continues even when a
Consultant is elevated to the rank of a “Partner. The transition to “partnership”
is through a rigorous process as the test is not to see the number of clients
they are bringing in, but to make sure they are hardworking, honest,
collaborative, and entrepreneurial.
Mr Zehnder’s final advice
EZI’s system cannot be copied by all types of organisations especially in those
where there can be big differences in the types of work that people do. For
example, the reward for the head of R&D, cannot be decided in the same way
as the reward of the head of sales. But at professional services firms, like
law firms, where the work is quite homogeneous (what a lawyer does in Tokyo,
for instance, isn't all that different from what a lawyer does in Zurich), in
these cases, a compensation system similar to EZI, which reinforces common
values and sets common expectations, could be adopted.
1. After a thorough analysis
of this Case, identify all the “explicit and implicit factors” apart from
“Seniority” that contributes to the success of the form EZI? (10 Marks)
2. Suppose, this company is
taken over by another and this company replaces the “Seniority” system of
payment with the “Pay for Performance” system. Discuss what could be the impact
of this change upon the i) morale ii) culture and iii) profitability of the
company. (10 Marks)
3. a. The Job Description and
Job Specification of the position of a “Payroll Assistant” in an office is
given below. Say, you are using the “Point Rating” method of Job Evaluation. So,
what are the Compensable factors and the sub-factors that you would select to evaluate
this job. Also decide the appropriate weightages of the factors and subfactors that
you choose. (5 Marks)
A) Job Summary (Payroll
Assistant)
Feeds employee “time worked”
and other pay-related data in computer to calculates wages and deductions and
issues paychecks
B) Essential Job Tasks
• Process and issue employee
paychecks and statements of earnings and deductions.
• Compute wages and deductions
and enter data into computers.
• Compile employee time,
production and payroll data from time sheets and other records.
• Review time sheets, work
charts, wage computation and other information to detect and reconcile payroll
discrepancies.
• Verify attendance, hours
worked and pay adjustments, and post information to records.
• Record employee information,
such as exemptions, transfers and resignations to maintain and update payroll
records.
• Issue and record adjustments
to pay related to previous errors or retroactive increases.
• Complete time sheets showing
employees’ arrival and departure times.
C) Job Context
Works indoors in an
airconditioned environment and communicates mostly via telephone.
D) Knowledge, Skills and
Abilities Required
• Knowledge of administrative
and clerical procedures and systems such as word processing, managing files and
records, designing and completing forms, and other office procedures and
terminology.
• Knowledge of principles and
processes for providing customer service.
• Knowledge of math,
arithmetic, statistics to analyze data and solve problems and use of Microsoft
Excel.
• Uses logic and reasoning to
identify the strengths and weaknesses of alternative solutions, conclusions or
approaches to problems.
• Knowledge of the English
language to understand written sentences and paragraphs in work-related
documents.
• Gives patient hearing to
other people and interacts effectively to understand pay-related problems
• Communicates effectively in
writing as appropriate for the needs of the audience. After a careful reading
of his job duties, responsibilities and knowledge requirement, you are required
to assess this office job and convert it into points (as per the Point Rating
Method of Job Evaluation).
3. b. For assessing the above
job, you have selected the Compensable factors, broken them down (as required)
into sub-factors and also allocated appropriate weights. Now, what else needs
to be done in order to have a suitable instrument so that you can convert this job
into equivalent points. (5 Marks)
Organisation
Culture
1. What are organisational
values? Please outline the relationship between organizational values and
culture. Please substantiate your answer with a contextual example. (10 Marks)
2. What is employee engagement
? What is the relationship between employee engagement
and organisational culture ?
Please provide context through a suitable example.(10 Marks)
3. Over the past few years,
the profitability of Mobius Ltd has been significantly declining against the
expected projections mainly due to aggressive competition and economic hardships
that characterize the market. In addition, results from a recently conducted cultural/employee
attitude survey indicated that Mobius Ltd employees lack cohesion, motivation,
commitment. The organisation’s engagement quotient scores were below the sector
benchmark of competitor organisations. During the last organisational
engagement survey track action planning, staff found it challenging to engage
in a meaningful manner with the action planning process. The company has a rank
& file structure in place and is hierarchical in its approach. More
importantly as indicated in the engagement survey, employees at Mobius Ltd
seems to have significantly low levels of job satisfaction, teamwork, trust
(among themselves and the management), and expectations for future advancements
(promotions and rewards).On the same note, there was a 30% increase in
pilfering of company resources as evidenced from the analysis of company data,
an all-time high absenteeism rate to add to the woes of the company . The 18%
increase in last year’s staff turnover is also an issue that needs to be
addressed. Considering these issues, the CEO of Mobius Ltd strongly suggested
that there is need for change if the company is to survive the current unforgiving
market and economic trends. This he attributed to the fact that the current
culture adopted by the company was the root cause of the poor performance
exhibited by the company. As such, an external party report has been
necessitated by the need to identify, analyse, and solve the cultural and behavioural
issues that affect Mobius Ltd.
Questions:
a. What would you define as
some key cultural attributes of Mobius Ltd? (5 Marks)
b. The HR Head has been
tasked, to provide a detailed culture journey plan for the organisation with
outcome milestones and indicative timelines. How would you approach this task
and what would you do? (5 Marks)
Performance
Management System
1. Venkat Raman is working
with Foodland Logistics as a manager since the past 3 years. Venkat is in
charge of warehouses and deliveries section. Venkat has been successful in
achieving difficult targets and is regarded as a star performer. However team members
often complain about Venkat being too aggressive, rude and pushy focusing only
on targets. This resulted in high attrition in his team. Venkat’s superior,
Usha Amonkar has called Venkat for a counselling session. How should Usha go
about the process of counseling Venkat (who is otherwise a good performer)? (10
Marks)
2. Reshma Vyas is employed
with a Natural Tech a solutions since the past 2 years. Reshma has recently
been transferred to the People Tech solutions department. She has a new team of
7 direct reports. The Head of the Department who was earlier handling this role
(Rajesh Nair) has resigned and during the handover process, Reshma was explained
about the Critical Incident Diary. Reshma now has to complete the Performance
Review of her team. How should Reshma go about conducting a successful
appraisal process with the critical incident diary? (10 Marks)
3. Medi Easy is in the online
pharmacy and medical business in India. The company has been formed 3 years ago
and is doing well in digital medicines for individuals and hospitals. Prepare
the Balanced Score Card with 1 goal each for:
a. Financial and Customer
quadrant (5 Marks)
b. Business Process and
Learning & Growth quadrant (5 Marks)
Entrepreneurship
and Venture Capital Management
1. Social ventures tend to
have greater stakeholder issues and challenges than traditional entrepreneurial
ventures. Explain the statement. (10 Marks)
2. Kavya wants to start a
multi-cuisine restaurant. Kindly write a business plan in detail keeping in
view multi-cuisine restaurant. (10 Marks)
3. Akshay and Della has left
their existing corporate job and are planning to start an advertising company.
a. How do Akshay and Della
approach the funding of their business whether it should be bank loan or venture
capitalist. Kindly justify (5 Marks)
b. Which form of ownership is
best for this business (advertising company). Kindly justify.
International
Business
1. “Globalization is the
interdependence and integration of the global economy to enhance the worldwide
exchange of capital, goods and services.” – In the light of above statement
analyze advantages and disadvantages of Globalization. (10 Marks)
2. “Payment instruments are
the documents needed to fulfil formalities and legal requirements of a contract
between an exporter and importer” – In context of above statement explain about
various payment options used in International Business. Also, explain different
types of Letters of Credit. (10 Marks)
3. Gillette Targets Emerging
Markets’
As it entered the twenty-first
century, Gillette faced a difficult choice. Should it continue targeting
emerging markets or not? Its strategy to move aggressively into markets in the developing
world and the former Soviet bloc had been hailed as a success only a few years before.
Recent poor earnings, however, had management considering whether this choice
had been a wise one. The Boston-based firm was founded in 1895 and is still
best known for its original products, razors and razor blades. By the end of
the twentieth century, Gillette had grown into a global corporation that
marketed. its products in 200 countries and employed 44,000 people worldwide.
About 1.2 billion people use Gillette products every day. Its sales are about
equally distributed among the United States (30 per cent), Western Europe (35
per cent), and the rest of the world (35 per cent). As markets matured in
developing countries, Gillette sought growth through product diversification,
moving into lines such as home permanents, disposable lighters, ballpoint pens,
and batteries. In the mid-1990s, Gillette targeted several key emerging markets
for growth. Among them were Russia, China, India and Poland. Russia was already
a success story. Gillette had formed a Russian joint venture in St.Petersburg and
within 3 years, Russia had become Gillette’s third-largest blade market.
Gillette’s move into the Czech
Republic had prospered as well and in 1995 Gillette bought Astra, a 10caI;
privately-owned razor blade company. Astra gave Gillette expanded brand presence
in the Czech market. Astra’s relatively strong position in export markets in
East Europe, Africa and Southeast Asia proved a boon to Gillette in those
markets as well. Jus.t as in other markets in the developing world, 70 per cent
of East European blade consumers used the older, lower-tech double-edge blade.
In more developed markets, consumers appreciated product innovation and the
shaving market had moved to more high-tech systems such as Gillettes Sensor.) Then
disaster struck. A financial crisis that began in Thailand quickly spread
across Asia. Many wary investors responded by pulling money out of other
emerging markets as well as depressing economies across the globe. Bad economies
meant slower sales for Gillette, especially in Asia, Russia and Latin America.
In Russia, wholesalers could not afford to buy Gillette products. Consequently,
these products disappeared from retail stores and Gillette’s Russian sales plummeted
80 per cent in a single month. Gillette found it could not meet its projected
annual profit growth of 15-20 per cent. The price of Gillette shares tumbled 36
per cent in 6 months. To save money, Gillette planned to close 14 factories and
layoff 10 per cent of its workforce. Despite its recent bad experience in
developing countries and in the former Soviet bloc, Gillette was still moving
ahead with plant expansion plans in Russia and Argentina that would total $64 million.
Some even suggested that this was a good time to expand in the emerging markets
by buying up smaller competitors that had been hurt even worse by the crises.
Meanwhile, back in the developed world, another large global consumer products
firm, Unilever, announced that it would be entering the razor market.
a. Why do companies such as
Gillette target emerging markets? Do you agree with this strategy?
(5 Marks)
b. What are the dangers to
Gillette of targeting emerging markets? (5 Marks)
Brand
Management
1. The Bombay Chef Company has
set up a restaurant in the suburbs of Mumbai which also has a section of
desserts and is prominently known for the variety in the latter. With the huge
demand in desserts, the key decision makers at The Bombay Chef Company decide
to initiate selling the desserts online followed by home delivery across the
city. While they begin delivering, they receive certain complaints about the
damage in overall packaging. Similarly, the packaging consisted of only one
label with the logo which was not much appealing to the people. As a brand
manager, how would you put forth the concept of packaging innovation? How would
you execute Packaging design and change? (10 Marks)
2. Margarette Haircare Pvt.
Ltd. is an established name in the market. The firm owned by Ms. Margarette
sells hair care products for teenagers. The firm has been successfully set up
for eighteen years with a good brand name and has also established a
self-identity in the market. With the emergence of other hair care products,
generally local and comparatively priced less, Margarette Haircare Pvt. Ltd. is
facing challenges in selling their products while the branding efforts have
been considerably been in vain. Apart from the competitors, there are several
other factors that are proving to be a challenge for Margarette Hair Care’s
branding. As an expert, identify the factors that are proving to be a branding
challenge to the organisation. (You can make assumption around the Margarette
Hair Care brand) (10 Marks)
3. Mr. Ratlami has been
selling all types of (farsan) snack items. He already owns seven stores in
Rajasthan with the name "Salaam Ratlami". The products are known for
their quality and freshness. The stores have been doing good but lately they
have been facing a lot of competition from other branded snacking products in
the market. Mr. Ratlami continues to sell in a traditional way. He sells his
items in transparent plastic bags or wraps some small quantity in newspaper or
magazine loose papers. There is no common dress code for employees. He wants to
increase the sales by making a brand for his products.
a. As a brand specialist,
explain the concept of brand, guide him with the difference in product and
brands. (5 Marks)
b. Explain the benefits of
branding to him in the simplest possible way with examples. (5 Marks)
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