Advantages and disadvantages of using social media tools

een a cost-saving tool that has significantly reduced overtime and saved the department thousands of dollars each month. Before implementing the cost management process of LEAN, the department was spending upwards of $1,000 per month in overtime for each employee, and there are 30 employees in the department. After streamlining our accounting processes to be more efficient, the department is now saving approximately $30,000 per month in overtime wages. The organization is in the process of implementing LEAN in every department; therefore, we do expect to see a drastic drop in unnecessary expenditures over the next several months. In addition to reducing overtime wages as a cost management mechanism, there are a tremendous amount of delays in billing, including too many people involved in different parts of the process (Deschenes, 2012). If there’s a better flow, if people are handing off the work to the next person in the chain immediately, then bills are sent out in a couple of days instead of a couple of weeks. It’s also incredibly important to make sure invoicing is being done properly. If mistakes are made and proper preauthorizations aren’t followed, but procedures are done anyway, hospitals might be voluntarily giving away revenue. This is another area where the use of LEAN, or any other cost-saving metric, can be utilized for the benefit of the organization. A second managerial accounting technique used is quality control. Quality control is essentially a set of quality standards enforced by management to ensure that products and/or services are at a specified level before being offered to consumers. These control metrics can include a wide array of protocols to ensure products meet safety, dependability, and satisfactory requirements, among others (“Quality Control Definition | Investopedia,” n.d.). A major element of quality control is implementing these standards in a way that all employees fully understand and adhere to follow. Room for error can be greatly reduced by specifying which production activities are to be completed by which personnel; thus, reducing the chance that employees will be involved in tasks for which they do not have proper training. Although I am not employed in a manufacturing industry, the healthcare industry employs quality control standards unique to each department. For example, I work in Research Finance on the accounting team. The department also has a budget team and an invoicing team that has specific responsibilities for research projects and patients. One of our quality control measures is that the accounting team is not allowed to negotiate and/or prepare budgets; only the budget team is capable of this task due to th

Sample Solution

Social media has become an integral part of our everyday lives and has had a significant impact on the recruitment process. Social media tools can provide recruiters with access to a large pool of potential candidates, allowing employers to reach out and find the best fit for any position within their organization quickly and easily. Additionally, these tools can be used to build relationships with prospective employees through conversations or even virtual interviews (Vij & Kaur, 2020). Despite this, there are some drawbacks associated with using social media in recruitment that must be considered. The primary advantage of using social media in the recruitment process is its ability to connect employers to talent quickly and cost-effectively (Fisher et al., 2017). The low barrier of entry makes it easier than ever before for businesses to reach out directly to potential candidates around the globe without having to expend additional resources. This direct connection also allows recruiters more insight into who they’re hiring by being able see candidate profiles as well as comments from past employers or colleagues (Teo & Hui-Ting, 2018). Furthermore , Social Media provides a platform for companies within certain industries such as technology , finance or fashion where technical skills may be assessed during initial screening phases . However, despite all its advantages ,there are still disadvantages associated with utilizing social media tools within any recruitment process .One main disadvantage would be privacy concerns since many platforms require personal information such as age ,location address etc which could lead onto possible discrimination issues if not handled properly (OECD 2009) Furthermore exaggerated claims made by applicants online due inexperience or just plain exaggeration could lead too misjudged decisions during hiring processes unless appropriately factored in during assessment stages (Eisenberger & Cummings 1986 ). In conclusion, while there are numerous benefits associated with using social media in recruitment ;such as reducing costs and connecting recruiters directly too quality sources ,care must always be taken when collecting data on prospective employees regardless off what mediums have been utilized throughout each stage .This includes adequately assessing qualifications provided by applicants during shortlisting process taking into consideration inflated credentials seen regularly witnessed across many platforms nowadays.