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Accounting - Coursework Example

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For example, two employees were hired to do the same job. Mr. George, a neophyte or greenhorn employee finished the same assigned task within eight hours. On the other hand, a newly hired expert, Mr. William,…
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Download file to see previous pages Mr. Joseph, store sales personnel, generated £ 10,000 revenue for February, 2015. On the other hand, Ms. Gina, another sales personnel assigned to another city branch of the same company, generate £ 50,000 revenue during the same time period. If the company’s sales benchmark for each store sales employee is £ 40,000 per month, Mr. Joseph’s sales strategies did not effectively meet the required monthly revenue benchmark. On the other hand, Ms. Gina’s sales strategies effectively met the monthly required revenue benchmark (Chapman, 2011).
1. Business entities strive to generate higher efficiency and effectiveness levels to increase revenues (Chapman, 2011). By performing the same task within lesser time period, the company can sell more products. Taking lesser time to serve each customer’s store needs allows the same sales personnel to serve more customers. Serving more customers will normally lead to more revenues. By reducing work time to the least possible length, the store’s overall revenues will surely increase.
2. Business entities strive to generate higher efficiency and effectiveness levels to maximize expenses (Chapman, 2011). By using lesser salary expense, electricity expense, water, expense, repair expense, marketing expense, and other related business expenses, the company is able to save money. The saved money reduces the loan amount needed by the company for business expansions to other cities or nations.
3. Business entities strive to generate higher efficiency and effectiveness levels to increase net income figures (Chapman, 2011). With lesser time used and with lesser expense amounts, the financial statements of the companies will show that the company’s net income is favouraby higher than when money is unnecessarily wasted on unnecessary electricity, wage, and other production and possibly marketing expenses.
The above table 1 evidently indicates United ...Download file to see next pagesRead More
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