Business Finance Homework Help

respond with 150 words – jessica – LABOR

The way that I took to look at this question is by researching the cons of unions and how some strategies could be fixed in the 21st century to maybe change these views. First off, unions aren’t free and they usually have a fee every year to join them. They don’t all require a fee but if an employee decides to join one that does have a fee it then takes a chunk of money out there salary in order to receive benefits from union representation which isn’t fair. Maybe unions strategies could instead ask for donations instead of fees. Another issue that unions have is making employees hate their company and work against them but not in all situations. A strategy could be to encourage employees to work together with their company toward a common goal so negative publicity and situations don’t happen that could damage the company and the employees.

One issue pertaining to labor relations for managers and union leaders is that sometimes employers are not aware of all rights protected by the NLRB and may violate one with no intent to. An example of this is telling an employee to stop using their phone during work hours because of a policy that prohibits phones. That employee can then file a complaint to the NLRB claiming his or her rights were violated under NLRA Section 7. Although employers are aloud to have this policy they have to have it written correctly for instance, “phones are aloud only on breaks and other non-working hours.” This is just one example of how one simple policy can turn into big legal issues.

respond with 150 words – maketing

brandi

Marriott’s use of an innovation lab was useful to showcase and gain feedback about new and exciting experiences. The company created a digital experience that would make the “service known and offer the consumer the possibility of being in contact and experimenting with the product or service” (What is promotion in the marketing mix?, 2019). By providing this interactive experience for both business promotion and consumer promotion, the hotel chain was able to get feedback from both potential influencers and investors, allowing it to have more usable data than had the chain chosen only one target audience. Marriott’s use of this type of marketing promotion allowed the company to gain insights that may not have been available through other forms of marketing, such as print or video. Promotion in marketing is “any form of actions used by the firm to inform, persuade and remind consumers about their products, services, images, ideas, social activities” (Role of promotion in the marketing: Function and benefits, n.d.). The use of digital promotion allowed for a lower cost representation of future plans, and the ability to spread that innovation to a wider audience with the opportunity for participants to share the experience and their views and opinions. The digital marketing techniques that Marriott utilized allowed for further reaching reactions through the use of social media, allowing the new innovations to be more readily seen. By involving both business and consumer, the company was able to gain more feedback, but also to reach customers and potential investors that were not in attendance and gain additional insight along with increasing the buzz around the potential changes.

roberto – respond with 150 words

Marriot hotels made themselves a great corporation because they apply all marketing promotional strategy to its max. Although some marketers see trade promotion vs. consumer promotion as an “either-or” situation, forgetting that trade partners are conduits for moving product from suppliers to consumers, the most effective promotions address both trade and consumer priorities. In short, unless a trade sales promotion is designed with the customer in mind, it’s likely to do little more than get products into stock rooms and warehouses, where they don’t make anyone any money. Thus, marketing strategies are commonly discussed in terms of “push” and “pull” marketing strategies, taking into account both the trade partners and consumers. Marriot use many different forms of media to communicate about sales promotions, such as printed materials like posters, coupons, direct mail pieces and billboards; radio and television ads; digital media like text messages, email, websites and social media, and so forth. Most consumers are familiar with common sales promotion techniques including samples, coupons, point-of-purchase displays, premiums, contents, loyalty programs and rebates.

Furthermore, Marriott Corporation’s original hotels served the lower upscale market. The company then developed JW Marriott for the upper upscale segment, Courtyard by Marriott for the upper mid-scale segment, and Fairfield Inn for the lower mid-scale segment.

operation

Nicole

Inventory systems serve a business with many different functions. It provides a selection of goods for customers, decouples parts of the production process, takes advantage of quantity discounts, and hedges against inflation (Heizer et al., 2020). The four different types of inventory include raw material, work in process, maintenance/repair/operating supply, and finished goods (Heizer et al., 2020). When it comes to inventory costs, there are three main categories of costs. The first category is ordering costs, which are the costs an organization will incur every time they place an order from their supplier (Melanie, 2015). There are various costs that can be considered ordering costs, such as accounting costs, costs of moving goods, cost of unloading goods, etc. The second category of inventory costs include the holding costs. Holding costs are the costs that are associated with storing inventory before it is sold (Melanie, 2015). Holding costs can include costs such as financing costs, storage space costs, insurance/security costs, etc. Shortage costs are costs that occur when businesses become out of stock of a product (Melanie, 2015). These costs are also called stock out costs, and can include disrupted production costs, emergency shipment costs, and customer loyalty/reputation costs (Melanie, 2015). Overall, the main types of costs involved with an inventory system are ordering costs, holding costs, and shortage costs.

brandi

There are three types of costs involved in the invernory system; holding costs, ordering costs, and set up costs. Holdings costs are the costs that are incurred from storing inventory. These costs include “storage space, labor, and insurance, as well as the price of damaged or spoiled goods” (Tuovila, 2021) . Having a warehouse to hold inverntory conrtibutes to these fees, particularly rents to be paid and taxes that may be due for the storage space, hiring labor to handle the supplies, and allowances for materials that may not be usable after being held for too long. Ordering costs are the costs that are associated with the manufacturing and fullfillment of orders. The costs can include supplies needed to move materials through inventory, including the forms for needed supplies to move items from inventory to production and the sale of those materials to others, the labor costs associated with staff to handle order processing and sales, and other costs that are associated with inventory flow. Additionally, ordering costs can include the labor costs needed when new supplies come into inventory, these costs can be associated with moving the products to storage and the clerical costs to catalog new materials. Set up costs include the costs that are needed during the production process and monies that are spent to prepare machines and equipment for use.