Explain the expected changes in the finance area and their ...

[ts19998]

Explain the expected changes in the finance area and their effects on managers.
 
  What will be an ideal response?

Question 2

Which of the following is a good receiving practice?
 
  A) All deliveries should be checked for external damage.
  B) The quality of items delivered should be verified.
  C) An invoice should be used to verify each delivery.
  D) All of the above.

[Rilsmarie951]

Answer to Question 1

The reason that managers will need more computer skills is that operations, primarily the chains, will increasingly have online computer-based financial systems. Managers who are able to perform spreadsheet analysis will be more effective in understanding and reporting on a unit's financial condition. It is likely that, by 2010:
 Technological advances will allow managers to monitor profit and loss on a daily basis.
 Real estate costs will escalate more rapidly as competition for prime sites increases.
 More resources will be spent on training employees, particularly in food safety and accident prevention.
 Costs for waste disposal will rise.
 Increased labor costs will lead operators to acquire more labor-saving equipment.
The manager's task will be to create a climate within the operation that will foster team spirit and motivate workers. This will involve such things as paying on the basis of performance, and providing better fringe benefits, improved work schedules, ongoing training, extensive evaluations, and better retirement benefits.

Answer to Question 2

D