Budgeting

TWO BUSINESSES BUT DIFFERENT POLICIES AND PROCEDURES

BY: CAROLYN KENNY

AIU ONLINE

Unit 5 Individual Project

Abstract

In a business world its amazing how two companies who are almost the same can be completely different and still be able to be successful companies. It all comes down to how each company has their own mission statements and how they treat the customers.

The place of employment that I am currently working is in one where we deal with electrical supplies. For the purpose of this paper we will the company that I currently work for Company A and the organization that will be compared to that deals with the same situation that my company does will be company B. These two companies are in the same industry and they are direct competitors of each other. If a customer doesn’t like the way A is treating them they will go directly to B.

When it comes to the legal, social and economic environment of both firms there are many similarities. First both of these organizations need to obey the labor laws, taxation laws and environmental laws. One of the labor laws that both companies have to obey in the state of Illinois is that each worker over the age of 18 must be paid at least a minimum wage of $8.25, if a child is under the age of 18 however they are able to be paid at a rate of $7.75 (Illinois Department of Labor, n.d.). Both companies are established in different communities so the social environment is different. Company A has an office building within a bank so the social environment is one that has to be more laid back. Company B has their own building so they are allowed to do what they want and be as loud as they want. The attitude within both communities is a very positive one as these companies are providing employment. Company B has a slightly less social ranking than Company A due to the fact that the employees are treated much better at Company A. Within the Electrical business that both of these companies are currently...