Step 1.Set Objectives and Standards

question 108

Essay

Step 1.Set Objectives and Standards
Marie's objective is to earn $250,000 in revenue for the next year,which is the industry average.Establish standards for the year that will enable Marie to reach her objective.
a.Quantity. Quantity of interviews per recruiter.
Quantity of placements per recruiter.
Calculate the number of additional interviews needed to meet the standard per recruiter.
Calculate the percent increase.
b.Quality. State the dollar value of acceptable refunds per recruiter
State the corresponding number of refunds.
c.Time. State the time period in which the quantity and quality standards should be met.
d.Cost. State the cost based on commissions per recruiter.
e.Behavior. Identify any behaviors employees should change to help them meet the standards.

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Definitions:

Cash

Liquid assets held by a company or person, used for transactions or as a store of value.

Maturity Date

The date on which a financial obligation must be repaid or settled in full.

Principal Repaid

The amount of a loan's principal that has been paid back to the lender, not including interest payments.

Face Value

The nominal or dollar value printed on a security, such as a bond or stock, representing its worth at issuance.