Business
to function the required objectives.
Training and development programs
The business does not have a training program of any formal sort. The business mainly employs people who are known to have the right skills, experiences & qualifications for the job. Also, informal means of training, for example teaching the newly employed craftsman how to work and function the computer is there ways of training and development of the employee. Also, on-the-job-training, to help employees meet the needs & situation of the business.
Employee performance appraisal schedule
Method of appraisal includes monthly bonuses and/or non-monetary benefits such as voucher or business trips.
The frequency of appraisal depends solely on the business owner and how he is feeling and what he thinks. Though this may seem like an unlikely way of making decisions, it works effectively among the employees.
Details of any incentive schemes, bonuses, benefits
These are up to the boss, but consistent bonuses are given during times of increased work, over-time, increase of productivity and so on. Incentives include the overseas trips for business purposes and also pay rises at times. Usually an amount of time is needed before any type of promotion, and thus loyalty is valued greatly in the business.
Method of employee participation in decision-making
Employees are open to participate in decision making through direct speech and conversations, but the boundary of that idea is limited to where the employee works and for what field. I.e.- Craftsman, deliverer, secretary etc. The employer takes these decisions on a mental note and thus this informal means of suggestions is regular among the staff.
Conclusion
The goals of Ocean Wide Trading is to maintain and succeed its consistent increase in profits, and to also expand the business nationally, but still keeping the ‘personal relationship’ it has with its customers. Ocean Wide Trading is proud of its reputation of hospitable service and an exquisite, unique product, and hopes to attract more customers feel alike. The business has had great success financially, socially, and continues to be consistent in its benefits and profits each year. Also, it has been consistent with its idea, and in the several years of growth, it has surpassed the long-term goal made in its establishment phases.