President Obama praised Cumberland Farms, a convenience store chain based in Framingham, Massachusetts, for empowering its emplo
yees. In part, the company does this through online apps that allow workers to give input to decisions. If Cumberland Farms wanted to take other actions to empower its workforce, which of the following should it consider? Check all that apply.A) Communicate regularly about the firm’s progress toward meeting its strategic objectives as well as the threats and weaknesses that pose challenges.B) Allow employees to make more decisions about how they do their work without seeking approval from management.C) Encourage employees who want to improve their skills to pay for classes or leave the company to go back to school.D) Adopt a compensation plan that pays employees more when the company meets its goals.
A) Communicate regularly about the firm’s progress toward meeting its strategic objectives as well as the threats and weaknesses that pose challenges.
D) Adopt a compensation plan that pays employees more when the company meets its goals.
Explanation:
If Cumberland Farms wanted to take other actions to empower its workforce, they should consider communicate regularly about the firm’s progress toward meeting its strategic objectives as well as the threats and weaknesses that pose challenges. this will allow employees to have a better idea of the company and can make better decisions.
They must also adopt a compensation plan that pays employees more when the company meets its goals which would motivate employees to make decisions that would benefit the company and work harder.
The change in an accounting method of valuing stock which results in decrease in the value of stock will increase the profit when compared to the period before the method that decrease the stock was used. To effect the change a debit charge will be made to the retained earnings and a credit charge to the stock account to reduce the value.
