StudentShare solutions
Triangle menu

Management Accounting at Rivington Hospital - Essay Example

Not dowloaded yet

Extract of sample
Management Accounting at Rivington Hospital

According to the survey, there are more than 60 per cent of them have been in the Hospital for less than one year. Among the HR professionals, there was 38 per cent of them had an increased employee turnover in the past 12-18 months; 53 per cent stayed the same; and only 9 per cent had decreased. For the laundry supervisor, there was 23 per cent of individual contributors, professionals, first-level leaders, and mid-level executives somewhat or likely to leave within the next year. This study shows that employees in Chinese firms are likely to change their job quite often. This is because it is hard for them to stay within the Hospital for a long time. Moreover, studies done by Owens (2006) argue that finding and remaining high qualified laundry supervisors is the greatest problem in the Hospital. Therefore, turnover rates in the Hospital are quite high. This creates room for prediction that turnover rates in the Hospital’s SMEs may be even higher than the results of this survey. This is because SMEs are more informal and instable than MNCs. (Owens, 2006, p. 71). Hence, it is necessary to research the aspects that could influence turnover in SMEs. In Chinese manufacturing firms, voluntary employee turnover is becoming an expensive problem. The issue is even worse for SMEs (Owens, 2006, p. 101). If SMEs have the power to compete against the larger ones, working conditions for employees are poorer than larger companies, and poorer working environment would be an obstacle to remain employees. The characteristics of employment relations in the Hospital’s SMEs are different from State Owned Enterprises (SOEs), Joint Ventures (JVs) or large private the Hospitals (Owens, 2006, p. 112). SMEs have limited resources, both compensation packages and career enlargement, which can be the key motive for high employee turnover rates in SMEs. However, SMEs could remain employees through other methods and do not depend only on compensation packages. According to the hierarchal of needs theory (Owens, 2006, p. 71), human beings have different levels of needs. There are basic levels which could be fulfilled by extrinsic rewards. Nevertheless, people could only be motivated by intrinsic rewards at higher levels. Hence, firms could remain employees by recognition, care, and career advancement, which are all intrinsic motivators. Thirdly, the laundry supervisor turnover intention after training could be influenced by alternative job opportunities. When there are increased external job opportunities, employees are more likely to leave the Hospital after training. In other words, skilled employees are more attractive to employers. This makes him more likely to seek Hospitals that provide better extrinsic and intrinsic rewards. In (Owens, 2006)’s study, it argues that respectable performers are more probable to depart from the firm than awful performers. Outstanding performers have more job alternatives than those who do not perform well. Not surprisingly, there are studies focusing on the positive correlation between training and turnover intention. However, studies in this field are still not enough. It has been proven that the more training provided by firms in Asia, the higher level of employee turnover. One of the reasons to explain this is the ‘expense of cheap labor’. As trained and skilled employees could be attractive to any employers including the competitors, employees could simply change their job to the ...Show more

Summary

MANAGEMENT ACCOUNTING AT HOSPITALHOSPITAL By NAME Presented to INSTITUTION PROFESSOR COURSE MANAGEMENT ACCOUNTING AT HOSPITALHOSPITAL a) Various possible effects on the behavior of the laundry supervisor There is always a high employee turnover rate among skilled laundry supervisors in Chinese and Asian firms (e…
Author : salma69
Management Accounting at Rivington Hospital essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Management Accounting at Rivington Hospital"
with a personal 20% discount.
Grab the best paper

Related Essays

Possible Effects of Budget Preparation on the Behavior of Laundry Supervisor
The study demonstrates how flexible budgets can be used to revisit the budgeted targets after a change in uncontrollable exogenous factors that have a bearing on the performance of the company. The paper concluded by suggesting to the higher level management of the actions they can use to implement and prepare budgets that truly reflect the organizational performance.
8 pages (2000 words) Essay
Management accounting
Accountability 12 Conclusion 13 Reference 15 Abstract This study represents one of the most important areas of management accounting i.e. desirability and effectiveness of accounting for management control. Accounting is the most effective device used by managers and management for organizational control.
12 pages (3000 words) Essay
Finance - Rivington Hospital
..2 Redrafting of Memo…………………………………………………………………………..3 Cost of Wages……………………………………………………………………………........5 Cost of Washing Materials………………………………………………………………….
6 pages (1500 words) Essay
Rivington Hospital Laundry Department
The final part of this report analyzes the variances on the basis of actual activity level. a) Effects of Existing Budget on the Behaviour of the Laundry Supervisor The laundry supervisor may be affected by the way the budget was prepared and presented to her.
6 pages (1500 words) Essay
Hospital Management
Persons that are sick are administered for drugs and they are given medical and surgical care so that they can receive treatment from injuries that arise either from accidents or through any other form of occurrence. The hospital is located in tropical rural areas and therefore it does not have the facilities needed to serve its customers in the right way.
14 pages (3500 words) Essay
Hospital Case Management
It spans all the departments of the hospital. The department looks at providing patients with optimal healthcare. The department is a part of the healthcare network that coordinates health care delivery and transportation. It also includes medical social work.
3 pages (750 words) Essay
Management accounting
They play different roles in the process of satisfying the needs of the stakeholders of a particular organization. This essay attempts to provide a clear understanding regarding the differences that exist between the management
4 pages (1000 words) Essay
Rivington Hospital
After this, it outlines the different criteria for the investigation of variances, including a redrafting of the memo and revision of the existing budget, before reaching conclusions. There may be various
6 pages (1500 words) Essay
Management Accounting
In the organizational context accounting is instrumental for the companies to maintain financial stability. The whole process of accounting is being handled by the accountants of the companies.
8 pages (2000 words) Essay
ABC Hospital Risk Management Plan

The main focus of the ABC Hospital risk management plan is to provide an ongoing, comprehensive, and systematic approach to reducing risk exposures. Thus, risk management activities of identification, investigation, analysis, and evaluation of risks are the most appropriate methods for improvement of all activities within ABC Hospital.

7 pages (1750 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation