Agency and Employment Law, assignment help

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Business Finance

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Scenario: As employment costs continue to escalate, it is incumbent upon organizations to continually monitor its internal operations to ensure best practices are being followed. To that end, your CEO has asked you to prepare a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis.

Prepare a SWOT analysis in one of the following formats:

  • A 7- to 10-slide Microsoft® PowerPoint® presentation,
  • A comparison table in a maximum of 1,050 words, or
  • A maximum 1,050-word written analysis in Microsoft® Word.

Examine the following:

  • Consider the impact a principal and agent creates on the business and its employees.
  • Compare how express, implied, and apparent authority created by the principal and agent impacts equal opportunities for employees.
  • Identify the laws protecting workers against discriminatory practices.
  • Evaluate how the legal protections present in the workplace differ for employee and independent contractors.

Cite a minimum of two references for the four content areas taken from a business or legal resource. At least one reference must be from the University Library.

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Explanation & Answer

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Running head: SWOT ANALYSIS

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SWOT Analysis
Name
Tutor
Course
Institution
Date

Running Head: SWOT ANALYSIS

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Scenario

The company currently faces a high wage rate which is still escalating. The escalation in
the pay rate is consequently narrowing the company’s profit margin and hence risking its
viability. The following SWOT analysis seeks to help the management in making the best
decisions to reduce this effect.
Strengths
The organization has an appropriately educated workforce with good knowledge and
skills. They are also well equipped with knowledge on business law and hence clearly
understand the principal-agent relationship model as required by the law. Apparent, implied and
express authority offered by the agent-principle relationship practiced in the company allows
employees to make fast decisions in the interests of the enterprise. It ensures that decisions that
directly affect the business are quickly made to enhance the smooth running of the firm.
Utilization of this model also implies that that the human resource management does not have to
promote more employees to be assistant manager, for example; a simple principal-agent
relationship is often utilized to reduce costs that would have otherwise gone to pay for a higher
rank employee (Selmi, 1996).
The organization also has a comprehensive employee handbook that details the rights of
employees as well as their responsibilities. The book also states under what circumstances a
t...


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