Rr2 | Management homework help

Q1

 

In this post, I will explore the importance of benefits for individual employees, employers, and business operations by analyzing Alphabet’s Employee Benefits. According to Fortune Magazine, we can know that the Alphabet (Google) is one of the top 100 best companies. The top-ranked companies usually provide standards for employee benefits and allowances and set business standards for inclusiveness (Lambert, 2020). In other words, most employers provide employee benefits packages that can provide basic health insurance and retirement plans. In addition to basic health insurance, employers also provide various other benefits according to the nature of the company.

From the perspective of medical insurance, Alphabet provides employees with basic health benefits including medical insurance and dental plans. In addition, it provides high-quality maternal support programs, nutrition and psychological counseling, and health program incentives in a form that exceeds basic benefits. The Harvard House of Business Review conducted a survey on employees’ most valued benefits and found that better health, dental and vision insurance topped the list (Jones, 2017). Alphabet is aware of the fact that healthy employees are productive employees, so it provides excellent health plan incentives for team members. It is worth mentioning that the Alphabet provides two-way parental leave. If the father is the main caregiver, its employees can take up to 18 weeks of leave, and the mother is still entitled to 22 weeks of maternity leave (Investopedia, 2020). This also reflects the fact that Alphabet attaches great importance to work-life balance for every employee. As Snell & Bohlander (2016) mentioned that after many forces are weighed and balanced, benefit plans can be successful because they consider the needs of employees, because they may vary from company to company.

More importantly, the company is promoting managed care plans and trying to get employees out of traditional paid service plans in which they are free to choose their own doctors. When providing optional and flexible benefit plans, individual employees can choose the benefits that best suit their specific needs, while also saving resources and costs for the company (Snell & Bohlander, 2016).

In addition, Alphabet provides flexibility and benefits to improve work-life balance, namely flexible working hours, more vacation time, and more options for working at home. This is because flexibility and work-life balance are important. Benefits are of important strategic significance to employers. From the perspective of employees’ careers, Alphabet provides team members with good career development benefits and onboarding plans, so that they can feel like their family’s corporate culture and through good development. Resources and guidance to help them plan their careers.

I think that many generations of people in the workplace diversify the types of welfare products so that they can be used by employees of different ages. For example, Alphabet provides employees and their family members with a 401(k) plan to ensure that employees enjoy safe retirement life, paid full-pay parental leave, adoption assistance, child protection plans, etc (Jones, 2017).

With the development of economic globalization, companies need to provide benefits in different environments and cultures and provide competitive benefits plans to help retain employees. Alphabet, as a multinational company, uses the popularization of high-speed Internet and the savings in commercial space to choose the form of remote office (Jones, 2017). Google provides free food, and there are various canteens in Googleplex that provide special food from various countries (Investopedia, 2020).

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Q2

 

The strategic significance of welfare to an enterprise lies in three aspects: employee retention, corporate culture, and work efficiency performance. Firstly, the benefits of a diversified organization attract and retain more skilled and engaged employees, which helps to lay the foundation for strategic planning. According to a survey by McKinsey Quarterly, attracting and retaining talent is the biggest reason companies offer benefits to employees. Offering tangible benefits also shows that you have confidence in the company and are willing to invest in employees. It also shows that you are stable, which can help you get top talent. (Pratt, 2020) Secondly, providing benefits can build a positive and healthy corporate culture for the company and improve employees’ concentration on their work. Clear welfare standards provide a clear path for employees’ career development, and employees have the opportunity to have a clearer direction and plan for their own development. Third, providing benefits to motivates employees to work more efficiently and better. According to Insurance Quote, 57 percent of private employers offer benefits that exceed the statutory requirements. As a result, offering revenue allows you to get more than 43% of your competitors without offering additional revenue. (Pratt, 2020)

When employees have more control over their lives, they tend to have better relationships with companies, job resumes, and a separation between work and home. Research shows that employees with a positive work-life balance do better at work, so promoting this balance is beneficial for both individuals and companies. (Pingboard, 2020) Google, for example, has a laundry day for its employees. Google has its own on-site laundromat, where employees can do their laundry without worrying about time or cost. (Wilkinson, 2020) This is a way for employers to promote work-life balance without harming productivity and efficiency, and to meet the rigid needs of all classes. In addition, I think promoting flexible office hours is a good way to practice this idea. In the current epidemic of COVID-19, allowing employees to work from home or choose their own work style can provide more psychological support and relationships for employees.

Different generations of employees have different standards and requirements for the performance of compensation and benefits. When dealing with multiple generations of employees, it is important to be sensitive to various work styles and communicate through various channels. Many employment experts believe that moving from defined-benefit to defined-contribution plans has fundamentally changed the way people save for retirement. Millennials, even after decades of retirement, think they won’t see much from Social Security and are happy to accept matching contributions so they can start saving early, since it may take them 50 years to work before they can afford to retire. (Griffin, 2018) Therefore, the company should provide benefits at the appropriate age for each generation for employees to choose from. Only by truly understanding the needs of employees can a good employment relationship be established.

The biggest challenge for global companies in providing benefits to their employees is to connect with multicultural employees. Multicultural audiences have significant differences in values, work attitudes, communication methods, and work motivation. Therefore, global enterprises need to establish an inclusive and efficient communication mechanism to make employees more closely connected with the company.

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Q3

 

Good posts.  I got this quote from the artcle.5 Factors To Consider When Designing Benefit Plans..” Willis Towers Watson researchers asked employees around the world to rank their top three reward preferences from a range of well-established options. Larger pay increases came top amongst respondents in all 12 countries and both age brackets (20–39 and 40+). More generous retirement benefits were in second place for respondents over the age of 40 across most of the world, as well as for 20–39-year-olds in Australia, Germany, the UK, and the US. In Brazil, Canada, China, India, and Japan, the opportunity to earn a bigger bonus came second amongst the younger group. “

There was a group of countries where a bigger bonus was second among the younger groups.  Pick one and discuss why you think this is the case.

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Q4

 

Capital budgeting involves planning and justifying how capital dollars are spent on long term project (Lasher, 2017). The capital budgeting method allows companies to have the ability to assess or judge a particular project and ii it make sense for a business to complete a project now or later in the future. This methods also allow a comaonies with the abilities ro choose between projects when there more than one scheduled to be started, it allows them to decide which one is better or make more sense complete one rather than the other. A firms’s cost of capital is the average rate it pays its investors for use of their money (Lasher, 2017). Capital budgeting consists of five techniques. Using any techniques involves calculating the number that the technique associates with a project and then applying the decision rules to that number (Lasher, 2017).

Construction of a new plant or a big investment in an outside venture are examples of projects that would require capital budgeting before they are approved or rejected (Kenton, 2020). As part of capital budgeting, a company might assess a prospective project’s lifetime cash inflows and outflows to determine whether the potential returns that would be generated meet a sufficient target benchmark (Kenton, 2020). Generally speaking it make sense for the lower risk projects approve than higher risk projects. By using capital budgeting rules make it more likely that higher risk projects when compared to lower risk projects will be less likely be approved because of the risk. As well as the chance a person or company will receive less of return on their invetsment. Higher risk projected heighten the chance the worse can happen meaning you might not receive a profit all or worse. The capital budget rules and method help a companies determine which project is the better investment, and  that will allow to a company to receive the greatest return in the future with minumum risk. Higher risk project it hard to determine future return and their too much risk involve with it. Higher risk project involve too much uncertainty, and no company or investor will invest in a project that has so much uncertainty and enormous risk. The low risk projects you can better determine future return and there is little risk which mean it is better investment as oppose to higher risk projects. That is why it is desirable to construct capital budgeting rules. 

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Q5

 

When we are looking at capital budgeting it is extremely important to stress risk rather high or low. Capital budgeting is a process of evaluating the cost and benefits of potential large-scale projects for your business (Verbeck, 2020). The purpose of creating a capital budget is to track where your finances and assets are and track where they will be or where they could be with the right forecast or projections. The reason why is it important to construct capital budgeting rules is because as a business you want to make sure that you’re not risking too much to make little to nothing. It is always best to know what you can get for sure and with the least amount of risk.

According to Verbeck (2020), a capital project is a long-term investment that improves a capital asset. Let’s say for instance I would like to start my own dog treat business; however I am currently working out of my kitchen at home. I may want to think of investing in a separate refrigerator that holds of the supplies needed for the business. The refrigerator would be considered an asset! With that asset that asset would be taken into consideration when constructing a capital budget and with that an analysis will take place in regards to whether it’s a high-risk project or a low risk project. There are additional factors that come into play such as other assets, the market for the business, and more. In addition, these projects can be funded by bonds, bank loans, grants, and of course private funding (Verbeck,2020). In the end, the purpose of the capital budget is to see what was gained or lost from the project. So let’s say the refrigerator was a huge success, it allowed me to hold more product and essentially helped me bring in more profit, in addition to it being eco friendly and did not add to much to my light bill. That would mean that it brought value to the business as well as it was or low risk. Both are very key, hopefully this was a good example.

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Q6

 COLLAPSE

Capital budgeting involves planning and justifying large expenditures on long-term projects (Lasher, 2017). These projects like capital projects have an increase in risk dependent on whether they are replacements, expansions or new ventures. Risk is going to present within any project that is chosen especially when money is invested. When developing a project, joing a project or helping with a project there should be comes capital budgeting rules set into place, these are: Payback period, Net present value (NPV), Internal Rate of Return (IRR), Profitability Index (PI) to name a few. The rules that are set into place aid in decision making to ensure you are drawing the best conclusion on whether or not to move forward or back away from a project. 

Implementing these rules so that higher-risk projects becomes less acceptable than lower-risk projects help monitor cash flows that consist of the payback period, NPV, IRR or even PI. Like mentioned before, risk is everywhere – once the idea of risk is incorporated in the captial budgeting you are then able to map out the cash flow reflected making it more acceptable to take on.

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