Hovey and Beard Company Case Study Example | Topics and Well Written Essays - 750 words

Hovey and Beard Company - Case Study Example The Hovey and Beard Company Case presents us with a job design of a painting process which demonstrates errors in the design of the job by engineers which resulted into inevitable problems at work (John, Robert and Michael, 2010). The fact that the hooks were designed to move in a continuous array in front of the painters without a method of regulating them indicates problems with job design. However it can be argued that the calculation of the time that each painter was given before the hook would fall out of reach shows that the engineers were aimed at ensuring that the job was designed well to meet the demands of the job. In this scenario, trainee painters are expected to make more errors especially with the timing of the hooks and thus decreasing their productivity. The reinforcement theory is used within the Hovey and Beard Company Case as illustrated by the training bonus that the trainee painters are given. The aim of this bonus is to enable the trainee to meet the gap in prod uctivity which would result from lack of skills and experience in the job. The job was designed in a way that the trainees were expected to be skills at the end of six months when the training bonus was withdrawn (John, Robert and Michael, 2010). The contribution of the reinforcement theory to job performance is to motivate employees to improve their performance in the job. In the Hovey and Beard Company Case, the training bonus was reduced gradually as a way of reinforcing the motivation of the painters to improve their performance so that by the end of the six months they were able to perform normally without mistakes and thus enable the efficiency of the job to be enhanced. The problems that were observed in the second month of the training in the Hovey and Beard Case can be attributed to poor reinforcement and thus less motivation by the supervisors. The job design would have been wrong leading to many of the hooks falling out of the range of the painter (John, Robert and Michae l, 2010). However, it can be argued that the engineers increased the rate at which the hooks moved because they expected the efficiency of the painters to have improved by the second month. The complaints of the painters that the hooks were too fast would also demonstrate that the supervisors expected unrealistic improvement of performance by the painters in the second month. Question 2 The performance diagnosis model is a tool that is used to define problems that result in the performance of tasks of a specific job. The diagnosis performance model aims at identifying the desired levels of employee performance in the execution of various processes of a job. Secondly, the model is important in the identification, specification and implementation of the most appropriate intervention of improving the employee performance so that the problems at the work place are solved with effectiveness (Stahl, 1997). In the Hovey and Beard Company case, some employees quit because of the high expect ations of performance which they would not cope with. The replacement of the employees with new ones caused even worse problems. This illustrates inappropriate application of the performance diagnostic model by the supervisors. The supervisors replaced the employees with new ones because they thought that it was the most appropriate intervention for the problem. Their failure in the application of the performance diagnostic tool is due to their inability to clearly identify the

Fianancial reporting and analysis Essay Example | Topics and Well Written Essays - 1000 words

Fianancial reporting and analysis - Essay Example In 2011, the international accounting standard board revised the existing financial standards, and issued a new set of standard for purposes of reflecting the changes in global business practices, economies of the world, and markets. The new rules are, consolidated financial statement (IFRS 10), joint arrangements (IFRS 11), disclosure of interests other entities (IFRS 12), separate financial statements (IAS 27), and revised associates and joint ventures (IAS 28). The consolidated financial statement (IFRS 10) was created for purposes of outlining the presentations of a consolidated financial statement. This rule requires business organizations to consolidate the entities that are under their control, and this includes giving them the rights of variable returns, and the capability of affecting the returns acquired over an investee (ACCA, 2012). On this basis therefore, the rule was created to institute the values that will guide the preparation of consolidated financial statements wh en one business organization controls one or more business organizations (ACCA study text, 2011). This rule was created for purposes of defining the concept of control of a business entity, and as a basis of consolidation. It establishes the principles of identifying whether an investor has some level of control over an investee, and therefore consolidating the investee (ACCA, 2012). This standard has the following key requirements; 1. It requires business organizations that have an interest in other business organizations to conduct an assessment in order to determine whether control exists or not. 2. In order for a business organization to control another business organization, the following characteristics must be present, rights to the benefits of variable returns because of the involvement of the business entity with the investee, authority over the investee, the ability to influence the investee for purposes of benefiting the investor. 3. An investor must have substantive righ ts for purposes of giving him control of an investee and legitimacy to control some affairs of the organization. Joint arrangements on the other hand outline the accounting procedures that business organization that jointly control an entity ought to follow. There must be a contractual agreement that denotes the control of an entity by the business organizations in question. Media (2011) denotes that joint arrangements are of two types, namely joint operations, and ventures. In a joint venture, net assets and equity are accounted for, while in a joint operation, accountant’s factor in the obligation of liability, and right to access the assets by the business organization under collaboration (ACCA study text, 2011). On this basis therefore, the International Accounting Board established this standards for purposes of determining the nature of a joint arrangement business organizations engage in. This is to enable stakeholders gain the capability of analyzing the rights and ob ligations of these business entities under the joint arrangement. For a joint arrangement to exist, the following are the main requirements (Gray and Manson, 2012); 1. There must be prove of control of the organization by the business entity involved. 2. The concept of unanimous consent must be present, and this