FACC 400 Lecture Notes - Lecture 12: Human Resource Management, Records Management, Institute For Operations Research And The Management Sciences
4 Jun 2018
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April 9th/2018
FACC 400 Lecture
8.1 Business entities: general features of companies and partnerships
Responsibility: If legal action is taken against a partnership or has a claim on it, every partner
personally assumes part of the responsibility.
Shareholders are never held responsible. If shares are debt financed, then shareholders will be
responsible to creditors.
Members of the board of directors: can be held responsible in certain cases (salaries,
deductions at the source, liability for contaminant emission). Their contracts have to dictate
something specific. It depends on the structure of the organization. They become responsible of
the company. There should be clarity about the structure.
Partnerships: should be clear and explicit about profits and losses, management, rights and
obligations.
Planning: business plan, production plan, quality plan, research and development plan,
personnel and materials development plan and financing plan.
Marketing strategies, publicity and appropriate expertise: engineer only accepts assignment
within own area of expertise. Engineer informs the client of specialists they plan to consult or
hire to carry out an assignment
Professional fees and billing: time required, level of knowledge, difficulty, responsibility
Content of bills: original budget, progress status of the project.
Records management: it is necessary to keep records of all transactions
Human resources management: payroll, recruitment, professional development, safety and
remuneration.
Employer-employee relations: act respecting labor standards and its regulations. Minimum
conditions of employment.
Individual contracts cannot violate mutual agreements.
find more resources at oneclass.com
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Document Summary
8. 1 business entities: general features of companies and partnerships. Responsibility: if legal action is taken against a partnership or has a claim on it, every partner personally assumes part of the responsibility. If shares are debt financed, then shareholders will be responsible to creditors. Members of the board of directors: can be held responsible in certain cases (salaries, deductions at the source, liability for contaminant emission). It depends on the structure of the organization. Partnerships: should be clear and explicit about profits and losses, management, rights and obligations. Planning: business plan, production plan, quality plan, research and development plan, personnel and materials development plan and financing plan. Marketing strategies, publicity and appropriate expertise: engineer only accepts assignment within own area of expertise. Engineer informs the client of specialists they plan to consult or hire to carry out an assignment. Professional fees and billing: time required, level of knowledge, difficulty, responsibility. Content of bills: original budget, progress status of the project.
