Question

1. Outsourcing has becoming an increasingly popular way for organizations to streamline their operations. Is outsourcing an efficient and effective practice? What are your feelings on outsourcing?

2. What are some ways companies can motivate their employees?

3. Discuss briefly the difference between the perpetual inventory system and the periodic inventory system and how is the amount of inventory determined when the periodic system is used?

4. During a period of rising prices which inventory costing method will result in the highest gross profits and why ?

Answer 1

1)

Usually, firm outsources its non-core activities to firms which are expertise in such activities. Outsourcing implies transferring work to some experts who are outside the firm. It reduces the cost of production substantially and work is done in most efficient manner. Most of US firms have been able to save mammoth cost, Thus, it is regarded as most efficient and effective practice. But a country loses jobs to other countries by practising outsourcing.  

2)

Following are ways to motivate employees:

• Offers incentives and perks to employees.
• Recognize achievements of employees.
• Flexible work hours.
• Provide meal at workplace.
• Sharing positive feedback.
• Introduce employees suggested innovation.