Case analysis in private fitness llc dissertation
I. Background/Issues and Concern
Rosemary Worth was talking about the consequences of a theft that had lately occurred on the business the lady owned, Exclusive Fitness, LLC. Private Exercise is a tiny health club positioned in Rancho Palos Verdes, A bunch of states, an high end community found in the Oregon Area. While manager in the business, Rosemary hired Kate Hoffman, among the instructors and a long-time friend. Kate’s primary duties included marketing, facility preservation, scheduling of appointments, and record keeping.
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II. Problem Statement
What should be the techniques or handles that Rosemary could use to shield her business’s assets?
III. Point of View
There exists an existing employee fraud in the company created by Kate, who is a long-time friend and at the same time, valuable teacher and internet marketer. Since this is known as a serious wrongdoing made by Kate, a better control is needed to steer clear of incidents like these. Another thing is a company is usually not yet secure when it comes to policies/regulations.
Right segregation or delegation of duties must be done. Only one person is designed to do the recording of revenues and becoming of cash which is Kate. For this reason why Kate can have the opportunity to conceal scam.
Specifically, the objectives of the study will be the following:
1 . To ensure that income are all noted;
2 . To ensure cash and cash in traditional bank be equal to revenue registered; and
three or more. To implement a better inner control.
Versus. Areas of Consideration
1 . If employees may adapt the change.
2 . If Rosemary would be ready to spend time monitoring her organization.
3. In the event Rosemary would be willing to place boundaries among personal and business matters.
We, the consultants, advise the second opportunity. Rosemary need to retain Kate as her manager. To be able to prevent the employee fraud coming from happening again, Rosemary need to implement a brand new system pertaining to protecting the organization’s assets. The best shield in money stealing or any type of other scams any staff can devote is effective inside control. Because the second alternative focuses on employing better internal control, so that it can be the appropriate one.
VIII. Plan of Action
¢ Inform employees about the adoption in the new system.
¢ Reorient the employees inside the modifications of their responsibilities. Appropriate methods of determining responsibility has to be implemented to prevent incompatible functions and to reduce the possibilities of errors because of too much work load assigned to employee.
¢ To establish ethical standards that discourage personnel from joining n unethical or unethical or illegal acts, Rosemary should coordinate activities that may help strengthen company commitment.
¢ Appropriate procedures for considering, promoting, and compensating entity’s personnel has to be implemented.
¢ Since there is less control on monitoring all data of the range of clients, period of any private fitness school, and cash transactions among customers and company, Rosemary must apply a new program using a membership card while illustrated beneath:
¢ With this, business may gather cash effectively and prevent criminal offenses from occurring in the operation such as thievery of organizational assets.