1 Bailey’s is a large toy manufacturer based in a - 考试试题及答案解析 - 读趣百科
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1 Bailey’s is a large toy manufacturer based in a traditional industrial region. Established in the 1970s, it has faced many changes in the market and survived. This has been due in part to employing a largely unskilled low paid staff,and maintaining its main advantage, that of low production costs based on low pay. Most of the production involves repetitive and boring work with little challenge and opportunity for innovation. Although many of the employees have

been with the company for some time, there has been a high level of employee turnover.

However, an unhappy atmosphere has been apparent for some time. There has been a number of instances ofarguments between the staff, friction between different departments, disturbance, low morale, poor production and general unrest, made worse recently by a decline in business which may lead to staff reduction and redundancy. Poor pay is leading to family problems that are affecting the commitment and motivation of the employees.

The business was recently sold to the new owner, Rebecca Stonewall. She is concerned that the negative atmosphere she has found will harm the prospects of the business and is determined to address the issues that have become apparent.

She has therefore decided that it is time to take account of opinions and views of the employees in an attempt both to identify the problems and to resolve them. She has appointed external counsellors since she thinks that a programme of individual counselling might be appropriate and is also of the opinion that some form. of different or improved approach to motivation might be the answer to the problems at Bailey’s.

Required:

(a) Define the role that the external counsellor must fulfil at Bailey’s. (3 marks)

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1 One of the many skills that managers are called upon to use is counselling. Situations often arise in the workplace where particular and careful people-centred skills are required. It is important that managers understand exactly what counselling involv

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(b) Describe the skills that a counsellor should possess. (14 marks)

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(b) It is clear that many of the problems at Bailey’s that have led to the unhappy atmosphere lend themselves to resolution through the neutral and non-judgemental approach offered by the appointment of external counsellors. The counsellor must be in a po

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(c) Briefly describe three advantages to Bailey’s of counselling. (3 marks)

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(c) For Bailey’s the advantages of counselling as a means of understanding and addressing the problems are that it provides a confidential service to the employee to discuss problems away from and not involving management or supervision. There is no obvio

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(b) Explain the meaning of the term ‘Efficient Market Hypothesis’ and discuss the implications for a company if

the stock market on which it is listed has been found to be semi-strong form. efficient. (9 marks)

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(b) The term ‘Efficient Market Hypothesis’ (EMH) refers to the view that share prices fully and fairly reflect all relevant availableinformation1. There are other kinds of capital market efficiency, such as operational efficiency (meaning that transaction

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(c) Discuss the difficulties that may be experienced by a small company which is seeking to obtain additional

funding to finance an expansion of business operations. (8 marks)

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(c) Small businesses face a number of well-documented problems when seeking to raise additional finance. These problems havebeen extensively discussed and governments regularly make initiatives seeking to address these problems.Risk and securityInvestors

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(b) Discuss how the operating statement you have produced can assist managers in:

(i) controlling variable costs;

(ii) controlling fixed production overhead costs. (8 marks)

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(b) Controlling variable costsThe first step in the process of controlling costs is to measure actual costs. The second step is to calculate variances that showthe difference between actual costs and budgeted or standard costs. These variances then need t

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