Mcdonalds reward and practices Essay Example | Topics and Well Written Essays - 500 words

Mcdonalds reward and practices - Essay Example Its continued success in the food and service industry can be undoubtedly attributed, among other factors, to the right strategies it has devised in handling its human resources. This paper evaluates the reward structure and system that McDonald’s uses currently both monetary and non-monetary and relate their effect on employees’ motivation and eventual performance. McDonald’s understands how much effective monetary compensation is to an employee. This is the money employees are paid for the job they do and it is structured based on the pay rates in the industry for the same nature and rank of job. It is a motivational factor as workers who demonstrate great skills and perform highly receive pay rise making them strive to be the best. There is short term and long term incentives that are variedly offered based on one’s performance. Short term incentives are those that monetary ‘appreciations’ offered at the end of the year to reward exemplary performances while long term incentives are those offered at unknown future dates. These incentives have great influence as they maintain the employees focus on the future of the business; employees work for future rewards (Armstrong, 2007, p.100). Another strategy that McDonald’s uses to motivate workers for high performance is through offering car that they can use for official and personal needs. There is a laid down criteria through which these cars can be acquired (eligibility criteria). Captivating enough is the fact that maintenance and repair costs are all on the company. Worker’s stress of travelling has, therefore, been neutralized. The cars act as a tangible evidence of appreciation to the employees and this facilitates their commitment to work as they can relate their inputs to rewards. The business has non-monetary programs that aim at motivating the workers for their excellent performances. Recognition programs are basically certificate awards that

Law and mangement Essay Example | Topics and Well Written Essays - 3000 words

Law and mangement - Essay Example e individual/ parties to an agreement identify the formation and termination terms of contract incorporating in as well as the privileges plus tasks of the participating groups under that contract (David, 2009). The acceptance of a contract of a suggestion takes place while there is an untrained recognition of the entire accessible terms. Despite the fact that, this is extraordinary as well as there will usually be a time of collaboration. New terms as well as conditions presented in the course of cooperation in consequence quantity to a succession of responses to present the unique offer, cancelling the conditions and terms of the unusual offer (Contract). If an agreement is prepared, and for any cause it afterward turns out to be unworkable to for one party to act upon their obligations, then we need to think about frustration. Be cautious to note that frustration is about following impossibility; if an agreement was impossible to carry out right from the beginning, then the matter is one of error and not frustration (Smithies, 2007). Frustration of contract is a fake declaration of contracting details prepared through one participating contract party to another participating party as well as has the outcome of suggest that contacting group party into the agreement. For instance, beneath definite state of affairs, frustration of contract makes a statements or promise prepared through a retailer of goods concerning the excellence or feature of the manufactured goods that the vendor has may encompass the developed standards or misrepresentation. A conclusion of falsification permits for a conduct of rescission as well as irregularly gu arantee depending on the kind of distortion (Smithies, 2007). In this situation Harry offer his Motor Cycle for sale to Ian at $ 500. The main mistake done here is the establishment of any detailed document for regarding the offer. Here no time limit is defined no prices is established. In this situation Harry is free to sale his