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AURO UNIVERSITY

(INDIA)
The School of Management & Entrepreneurship
Bachelor of Business Administration

Module
Compensation & Benefits
Management
BBA Semester-V (2012-2014)
Module Leader
Dr. Vikrant Makhija

AURO UNIVERSITY of Hospitality & Management

www.aurouniversity.edu.in
If you pick the right people and give them the
opportunity to spread their wings - and put compensation
and rewards as a carrier behind it - you almost dont
have to manage them.

Jack

Welch

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TABLE OF CONTENT
Sr. NO.

Topic

Page
Nos.

Introduction

Methodology

Organizing Principles & Values

Coverage & Depth

Learning Outcomes

Week wise schedule of the block

10

Marked Assessment

13

Expectations from Students

14

Right of Students

14

10

A Note on Equal opportunities

14

11

Recommended Reading

15

12

Journals

15

13

Magazines

16

14

Week 1

17

15

Week 2

19

16

Week 3

20

17

Week 4

22

18

Week 5

23

19

Week 6

24

20

Week 7

25

21

Week 8

26

22

Week 9

28

23

Week10

29

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24

Week11

30

25

Week12

32

26

Week 13

33

27

Week 14

34

28

Week 15

36

29

Week 16

37

30

Guidelines of the Project

39

31

Sample Project

44

Introduction

Human Resource Management (HRM) has never been as significant as it is today.


Companies want to attract, retain and motivate brains to meet objectives. Today
Humans are regarded as one of every companys assets so they need to be
efficiently and effectively managed. One of the tools companies use to attract,
retain and motivate its people is Compensation Management.
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Wage issues are no longer purely mathematical issues. It was with this perspective
that the framers of the Constitution drew up Article 43 (part of the directive
principles of State Policy) which states that The State shall endeavour to secure,
by suitable legislation or economic organisation or in any other way, to all workers
agriculture, industrial or otherwise work, a living wage, conditions of work
ensuring a decent standard of life and full employment of leisure and social and
cultural opportunities. The declaration in effect, assured labour that where they
were not able to secure a living wage for themselves, the government, through
legislation or means will come to their aid.
Compensation is the glue that binds the employee and the employer together
and in the organized sector, this is further codified in the form of a contract or a
mutually binding legal document that spells out exactly how much should be paid
to the employee and the components of the compensation package. Though
Maslows Need Hierarchy Theory talks about compensation being at the middle to
lower rung of the pyramid and the other factors like job satisfaction and fulfilment
being at the top, for a majority of employees, getting the right compensation is by
itself a motivating factor. Hence, employers need to quantify the employees
contribution in a proper manner if they are to get the best out of the employee. The
provision of monetary value in exchange for work performed forms the basis of
compensation.

A new paradigm for human resource is in the offing. Shift the focus from ROI
(Return on Intangibles) to ROI (Return on Investment).

Hence, compensation

management is something that companies must take seriously if they are to


achieve a competitive advantage in the market for talent, if the right compensation
along with the right kind of opportunities are made available to people by the firms
in which they work, then work becomes a pleasure and the managers task made
simpler leading to all round benefits for the employee as well as the employer.

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In order to achieve the learning outcomes, it is expected that will devote around
120 hours to work on the module. This includes class attendance, weekly reading
and self-study exercises, course work assignments and examination revision.
Methodology:

Presentations
Lectures
Simulations and games
Case Analysis and Discussion
Learning Diary
Group Discussions
Seminars
Workshops
Individual and Group Assignments

Each week you will be expected to attend lecture, seminar/workshop, presentation


of topics assigned and also participate in group discussions. You would also
complete a set of self-study exercises.
Organizing Principles and Values
In designing the course, its content, and operating procedures, we have tried to
adhere to a number of basic beliefs and values that are worth making explicit:
1. Responsibility: The students in the course are responsible, both individually
and collectively, in large measure for what goes on both in the classroom and
outside of class. The quality of class discussion depends on all of you coming
to class prepared to discuss the issues raised by the material. Learning
depends on your reading and mastery of the material. What you learn from
your group project depends on the effort you and your colleagues expend
and what you do to apply the course concepts. I will do my utmost to
facilitate the learning process, but in the end, what you gain from the course
is up to you.
2. Implementing the Principles We Are Learning: We have tried to organize and
run the course in ways consistent with the ideas we are teaching. These
include an emphasis on teams, mutual trust and respect, and information
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sharing. So, we will engage in 360 degree performance evaluation. We will do
a lot of the course work in groups/teams, including a project that counts for
one-half the grade. And, in the everyday interactions that occur in the
course, we should strive to treat each other with respect and trust.
3. Fun: The material is interesting and engaging, and learning should be fun. We
will do a number of things, including using video material, stimulating
debate, and relying on your insights and examples to make the course
enjoyable.
Coverage and Depth
This module is essential to anyone planning a career in Human Resource
Management. The module covers all key elements of compensation, benefit and
reward. The module provides knowledge, understanding, and skills for all future
managers to: give informed advice and solutions at the workplace and establish
standards, contribute to improvements in organisational performance; undertake
basic human resources processes across the board.
The module defines the theoretical approaches to Human Resource Management
and considers the current context for practitioners. It evaluates HRM approaches
and practices in a range of organisations, public, private, manufacturing and
services. In particular the core aspects of Compensation Management policies and
practices are reviewed in organisations:

Compensation Management

Conceptual and theoretical understanding of Compensation

Various determinants of compensation

Internally Congruent Compensation Program

Compensation Benchmarking

Performance and Pay

Team-based pay

Employee Motivation and Compensation

Laws related to compensation

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Learning Outcomes
All elements of this module-lecture, seminars, workshops and self-study exercises
may be assessed in form of descriptive answers, multiple choices as well as
subjective examination.
Knowledge and Understanding
1. Identify how compensation management plays a significant role in operation of
business.
2. Critically analyse the outcomes of deciding and designing the compensation
system.
3. Determining the importance of sound compensation system.
4. Understand the various components of compensation system.
5. Understand the relationship between productivity and compensation.
6. Identify the types of compensation system.
7. Understand the market dynamics impacting wage determination.
8. Analyse the importance and function of Collective Bargaining.

TRANSFERABLE SKILLS
PRACTISED
COMPENSATION MANAGEMENT

TAUGHT

ASSESSED
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A. Self-Management
i.
Manage tasks and
time
B. Communication Skills
C. Problem Solving
i.
Identify key issues

for investigation in
ii.

case studies
Constructive
problem
identification and

problem solving.
D. Learning Skills
i.
Use library skills
ii.
Develop
independence in
iii.

learning
Use a range of

X
X
X

X
X

academic skills
(analysis &
research)
E. Information Technology
i.
Use IT as a resource
for information.
F. Team Work Skills
G. Presentation Skills

X
X

X
X

WEEK WISE SCHEDULE OF THE BLOCK


Week/
Date

Topic for the

Seminar /Workshop activity

Lecture

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Week1/
August,

Introduction to
Compensation
Management

2014

Expectation Setting,
Registration of Research Paper (10 marks*) and
project (10 marks*) topic within first week of the
class.

*Refer the grid below and following sections for the


scoring scheme and submission date
Week 2
August

Economic
Theories and
Compensation

2014

Week 3/
2014

Week 4/
2014

Week 5 /
2014

Employee
Compensation
and Labour
market

Employee
Motivation and
Compensation

Employee
Benefits

Week 6/
2014

Research Paper = 10 marks. Enrolment of the topic


and discussion
Topic (2 marks) + Presentation (2 marks)+ Content (4
marks)+ Conclusion/ Recommendations (2 marks)

5 marks
Presentation by students on Revenue to payroll cost
percentage in different sectors and why percentage
varies from industry to Industry

Case Study

Review of Progress in Research Paper

Mid-term exam (Best of two)


Collective
Bargaining

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Week 7/
2014

Week 8/
2014

Compensation
System for
Internal Parity

Benchmarked
Compensation
System

Presentation from Hay on job analysis.


Rough draft of the project to be discussed.

10 marks:
Presentation by Students on Research Paper and the
submission of paper in hard copy

Week 9/

Linking Results
with Pay

2014

5 marks: Presentation by Students on Compensation


Trends
Rough Draft/ Progress of the project to be discussed

Week 10/
2014

Week 11/
2014

Team Based

Mid Term exam (best of two)

Compensation

Sales
Compensation
Plan

5 marks
Presentation by students on Does working in team affect
the productivity of individual Performer?

Week 12/
2014

Performance
Management

5 marks
Presentation by Students on compensation system of two
different organisations.

Week 13/
2014

International

Guest Lecture

Compensation
Management

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Week 14/
August,
2014

Week 15/
August,
2014

Week 16/
Septemb
er, 2014

Statutory
Compliance:
1) Payment of
Bonus Act. 1965
2) Payment of
Gratuity Act
1972
Statutory
Compliance:
1) Minimum
Wages Act 1948
2) Payment of
Wages Act 1936
Statutory
Compliance:
1) Employee
State Insurance
Act 1948 2)
Employee
Provident Fund
and Misc.
Provisions Act
1952

Presentation on and submission of Project by Students

Case Studies

Wrap up session for the module.

Case Studies
Wrap up session for the module.

DISCLAIMER: The Module Leader can bring about any change in the curriculumcontent, evaluation-assessment parameters & style, sequence of lectures without
any prior information or notice.
Note: All written work will be passed through plagiarism detector approved by the
Examination Office.
Guest Lecture: The guest lecture would be arranged according to the availability
of the guest (Working on the dates)
Marked Assessment
1.
Research Paper: Presentation (10 marks): week 2 , 23rd August,
2013
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You have to find a topic related to compensation and benefit and within 1 week
have to register the topic with me (registration of the topic after the due date would
lead to deduction of 2 marks from 10 marks). For the format of the research paper,
please refer the following link
http://www.emeraldinsight.com/journals.htm?issn=1750-6204
According to the decided date the student would give a detailed presentation of the
same in power point in the class. The soft copy should be submitted to me on the
same day, Hard Copy to be submitted in one file (same day presentation).
Following will be the scoring scheme:
Topic (2 marks) + Presentation (2 marks)+
marks)

Content (4 marks)+ Conclusion (2

2. Presentations
Each Presentation carries the weightage of 20 marks.
Preface describing what and why
Formatting, Presentation, Source of Information
Data Analysis
Value Addition
3.

20%
20%
40%
20%

Mid Term Exam: There will be two mid-term exams. Best of two will be
considered for the 20 marks.

4. Final Exam (50 marks): week 9 (of October, 2014)


The final exam will consist of essay questions and or case study. The exact
format of the final exam will be discussed closer to the exam week.

OTHER ACHIEVEMENTS FROM THE MODULE


1. Students would have a thorough knowledge about research methodology
2. Uniformity of the projects would be achieved
3. Students would be able to prepare research papers.

EXPECTATIONS FROM STUDENTS:


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1.
2.
3.

Maintain Regularity and Punctuality


Auro University norms require 80% class attendance.
Students are requested to honour deadlines for submission of projects,

4.

reports, assignments etc


Classes will be more knowledgeable/Meaningful, if you do your assignments

5.

well before class.


Library and VLE (Virtual Learning Environment) is your best asset. The
accessing the VLE contact VLE coordinator or the IT department for

6.
7.

assistance.
Attentiveness should be strictly followed.
Come with an open mind for Assignments, Group Discussion, etc.

RIGHT OF STUDENTS:
1.
2.

You can look forward to access and support from faculty but not dependence.
You are encouraged to question and challenge views, ideas and logic of the
faculty through providing your logic. You can express your beliefs. However,

3.

beliefs without reason may be hard to deal with.


You are encouraged to make suggestions in the class to make the course

4.

more meaningful.
You can seek outside class time from faculty for discussing any issue related

5.

to the course.
You have right to disagree with the faculty on any issue. If the issue needs a

6.

decision, the facultys decision will be final.


You have right to question and seek justification for the grading of the faculty

7.

on merits of logic.
In the events of disagreement, a faulty decision would be final.

A NOTE ON EQUAL OPPORTUNITY:


Auro University aims within its courses to provide equal access to learning to
students from diverse backgrounds, irrespective of their gender, race, disability,
sexual orientation, age, religion and maturity. If you feel this module is not fulfilling
this aim, please take it up with the module leader, or ask your student
representative to do so. Feel free also to comment on this aspect of the module in
the evaluation.

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Core Text Books
Bhhatacharyya, Dipak Kumar (2010), Compensation Management, Oxford
University Press
Recommended Reading:
1. Gerhart, Barry and Rynes, Sara. L. (2008), Compensation Theory, Evidence
and Strategic Implications, Sage Publications
2. Pattanayak, Biswajeet (2005), Human Resource Management, PHI
3. Aswathappa, K. (2008), Human Resources Management (Text and Cases),
Tata McGraw Hill
4. Rao, Subba P. (2011) Essentials of Human Resource Management and
Industrial Relations (Text, Cases and Games), Himalaya Publishing House
5. Henderson, Richard I., (2011) , Compensation Management in a KnowledgeBased World, Pearson Education Inc.
6. Dessler, Gary ; Varkkey, Biju (2010), Human Resource Management, Pearson
7. Mishra L, Case Laws on Industrial Relations Issues and Implications, Excel
Books, New Delhi
8. L. M. Prasad , Human Resource Management
Journals
1. Journal of Organisation and Human Behaviour
2. Journal of social and Management Science
3. SCMS Journal of Indian Management
4. Prabandhan: Indian Journal of Management
5. AIMS International Journal of Management
6. South Asian Journal of Management
7. NICE Journal of Business
8. Advances in Developing HR
9. The Journal of All India Management Association
10.Asian Journal of Management Cases
11.Asia pacific: Journal of Human Resource
12.International Journal for Management Research
13.International Journal of Marketing and Business Communication
14.Journal of Entrepreneurship and Management
15.Journal of Strategic Human Resource Management
Magazines
1. Human Capital
2. Forbes
3. Business World
4. Outlook
5. Business Today
6. Bureaucracy Today

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MODULE LEADER: Dr. Vikrant Makhija


Tel:91 261 4088194 Extn.194
E-mail: vikrant.makhija@aurouniversity.edu.in

WEEK 1
COMPENSATION MANAGEMENT
Topic Overview
To develop a competitive advantage in a global economy, the compensation
program of the organization must support totally the strategic plans and actions of
the organisation. Compensation is what employees receive in exchange for their

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contribution to the organisation. Compensation management helps the organisation
obtain, maintain and retain a productive workforce.
Chapter Objectives
After studying this chapter, the students will be able to:
1. Understand the
perspectives.

terms

compensation

and

Benefit

from

different

2. Analyse wages and compensation differences.


3. Examine methodology of wage determination
4. Learn about compensation trends
5. Comprehend the basic dynamics of wage policy and objectives
6. Study the importance of the compensation and Benefit management
Lecture Outline
1.0

Exordium:
1.1 What is Compensation?
1.11
1.12

Core compensation
Benefits

2.0

Progression of Compensation Management.

3.0

Types of wages
3.1
3.2
3.3

Minimum Wages
Living Wages
Fair Wages

4.0

Factors Impacting Quantum of Compensation

5.0

Method of wage determination in India

6.0

Objective of Compensation Management

7.0

Impact of compensation management

8.0

Why Compensation Management

Discussion Question

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1.0Explain the concept of Compensation Management. What is its significance?
2.0

What are the important compensation domains? Which domain do you feel
influences
compensation design in India?

3.0How do Intrinsic and extrinsic components of the compensation vary?


4.0

Discuss the important element of compensation system


WORKSHOPS
Expectations Settings

Activity:
Study the handbook and make suggestions for exclusion and inclusion with
rationale for content or pedagogy including the assessment methodology.
REGISTRATION FOR RESEARCH PAPER AND A PROJECT
Next week:
Finalisation of Research paper and project topic, coverage, sample, objective etc. To
be presented by students, individually on power point.
Assessment:
Preface describing what and why
Formatting, Presentation, Source of Information
Data Analysis
Value Addition

20%
20%
40%
20%

WEEK 2
Economic Theory and Compensation
Topic Overview
The Relationship between employer and employee seen today has been
transformed over a long period of time so did the compensation planning. How the
labour markets and the wages have been determined by the economic conditions
or scarcity and demand of the particular skill or whims and fancies of the employer
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has the historic dimension of study. There have been numerous factors operating
on determining the quantum and nature of wage, with the evolving social structure
and changing methods of determining compensation, it is interesting to study
various theories which were prevalent at one time of point or perhaps they havent
lost their relevance even today.

Chapter Objectives
After studying this chapter, the students will be able to:
1.0

Understand various economic theories.

2.0

The impact of economic and social environment on the compensation.

3.0
Understand the various points of view through which the employee has
been considered
4.0

Learn about compensation trends

Lecture Outline
1.0

Introduction

2.0

Economic theories

3.0

Economic theories and Compensation


3.1

4.0

3.3

Classic School
3.2 Marxian School
Neo- Classical School

3.4

Keynasian School

3.5

Philips Curve

Employee Benefit
4.1 Benefit and TC
4.2 Equity in Benefits
4.3 Productivity linked benefit
WORKSHOPS

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Research paper: Presentation on Research topic, Research methodology,
coverage, sample size etc.
Project: Presentation on Project topic, study, reasons etc
Activity:
REGISTRATION FOR RESEARCH PAPER AND A PROJECT
Next week:
Presentation by students on Revenue to payroll cost percentage in
different sectors and why percentage varies from industry to Industry

WEEK 3
Employee Compensation and the Labour Market
Topic Overview
One of the impacts of trade and economic growth on human life or human societies
has been that the price of labour is determined quite like any other commodity
price determined by the market dynamics. Paradigm might have been shifting, time
to time or market to market, to consider labour as cost or asset or capital but
the reward and compensation or even the psychological dimension of
compensation has been decided by the economic factors.
Chapter Objectives
After studying this chapter, the students will be able to:
1.0

Understand what factors operate on labour market.

2.0
Appreciate
compensation

The

interaction

between

the

market

pricing

3.0

Establish the link between demand and supply in labour market

4.0

Learn about the impact of trade unions

and

the

Lecture Outline
1.0

Factors at macro level


1.1 Demography

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1.2 Temp staffing
1.3 Mobility
2.0

Unemployment
2.1 Types
2.2 Causes
2.3 Cost

3.0

Trade Unions: National scenario


3.1
3.2
3.3

4.0

Minimum Wages
Living Wages
Fair Wages

Policies related to labour in India

WORKSHOPS
Presentation by students on Revenue to payroll cost percentage in different
sectors and why percentage varies from industry to Industry

Week 4
Employee Motivation and Compensation
Topic Overview
Motivation of employees has a direct impact on the productivity of the organisation.
Higher the engagement level (motivation) higher the productivity is. There are
researches showing the direct correlation between the level of motivation of
employees in the companies and their stock process. Hence, more and more
organisations are striving to create the compensation system which uplifts the level
of motivation.
Chapter Objectives
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After studying this chapter, the students will be able to:
1.0

Understand employee motivation

2.0

Learn about motivational theories

3.0

Understand rationale to design compensation for impacting motivation

4.0

Understand the issues related to motivation

Lecture Outline
1.0

Objective of Motivation

2.0

Theories of Motivation

3.0

Motivation and Morale

4.0

Motivation and Compensation design


WORKSHOPS
Case Study

WEEK 5
Employee Benefits
Topic Overview
Benefits today are the biggest non-wage component of compensation. Why
organisations are willing to give their employees benefits which are not intrinsic.
Benefits are not only all about economic value, its the psychological value which
creates the bind between the employee and the organisations

Chapter Objectives
After studying this chapter, the students will be able to:

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1.0Understand the concept of employee benefit
2.0Understand monitory and non-monitory benefits
3.0 Analyse the impact of the benefits
4.0Discuss what could be alternatives to monitory benefit

Lecture Outline
1.0 Types of benefits
2.0 Need to offer benefits
3.0 Statutory benefits
4.0 Fringe benefits
5.0 The impact of Benefits
SEMINAR
Review of progress in Research Papers
Next week:
Mid Term Exam (Best of two)

WEEK 6
COLLECTIVE BARGAINING
Topic Overview
Employees and employer with differing interests must work together, if their
respective goals are to be attained. Yet, the very fact of differing interests causes
an atmosphere of opposing forces, which inhibits desirable cooperative efforts. In
organised industrial life, ways must be sought to minimise tensions and promote
bargaining. Here collective bargaining is the cornerstone of congenial industrial
relations and of constructive peace. It helps to bring the unreserved cooperation
between employees and employer by minimising the lacuna between the varying
interests of union and management.
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Chapter Objectives
After studying this chapter, the students will be able to:
1.0

Understand the meaning of Collective Bargaining

2.0
Explain the characteristics, necessity, importance and principles of
collective bargaining
3.0

Discuss the essential conditions of collective bargaining

4.0

Analyse the function of collective bargaining

5.0
Discuss the collective bargaining process including negotiations and
contract administration
6.0

Identify the causes for limited success of collective bargaining in India

7.0
Understand the recent trends in collective bargaining i.e., shift to individual
bargaining
Lecture Outline
1.0

Definition of collective bargaining:


1.1Characteristics
1.2Necessity
1.3Importance
1.4Forms

2.0

Essential conditions for the success of collective bargaining

3.0

Functions of collective bargaining

4.0

Collective bargaining Process


4.1Negotiation
4.2Contract Administration

5.0

Collective bargaining in India


5.1Limited success
5.2Suggestion for Effective Functioning

6.0

Recent Trends: Collective bargaining vs. Individual bargaining

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WORKSHOPS and Seminar


Mid Term Exam (Best of two)
Next week: Rough Draft of the project to be discussed.

WEEK 7
Compensation Plan for Internal Parity
Topic Overview
Peer Parity is pivotal for employee satisfaction and sustainable engagement scores,
which have direct bearing on Employees motivation to perform. There are various
methods to ensure that two jobs which are same or similar are weighted equally
based on the job analysis. The tools of job analysis are readymade and tailor-made.
The effectiveness of compensation management has huge dependence on the
quality of job analysis and evaluation.
Chapter Objectives
After studying this chapter, the students will be able to:
1.1Understand the concept of internally consistent compensation system
5.0Analyse the objectives and need for job analysis
6.0Analyse the objectives and need for job evaluation
7.0Discuss the various type so convention of job analysis
8.0How to do the job analysis and evaluation
Lecture Outline
1.0 Internal Consistency: Job Analysis, Job definition, Job evaluation
2.0 Job Analysis:
2.1 The reference point
3.0 Different Conventions of Job Analysis
3.1 Position Analysis
3.2 Functional Job Analysis
3.3 Fleishman Job Analysis
3.4 Occupational Analysis
3.5 MOSAI-CE
3.6 DOL Methodology (DOT)
3.7 O*NET
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4.0
5.0
6.0
7.0

Building Blocks in Job Analysis


Developing Task and KSAPC Statements
Gathering Job Analysis Ratings
Hay Evaluation
WORKSHOPS
Presentation from Hay on Job Analysis
SEMINAR

Rough Draft of the project to be discussed.


Next week:
Presentation by Students on Research Paper and the submission of paper in hard
copy
WEEK 8
Benchmarked Compensation System
Topic Overview
In the era of War of Talent, the organisation which has the best of the talent will
have the highest probability of not only surviving the dynamism of ever changing
market scenario but also emerging as a leader and sustaining the leadership
position. It is of utmost importance for the organisation to have the well thought of
compensation strategies aligned to the business goal, in order to be able to take
the right hiring decisions and attract appropriate talent. To take informed decision,
in the course of following the plan coming out of compensation strategy, it is
imperative to base your knowledge on the outcomes of salary benchmark surveys,
conducted by the organisation or third party. It is incumbent upon the HR
professional to master the process of benchmarking salaries to make the best use
of collected data.
Topic Objectives:
After studying this chapter, the students will be able to:
1.0

Identify the challenges in conducting the salary surveys

2.0

Understand the contextual need for the benchmarking

3.0

Prepare for the survey

4.0

Understand various methodologies of conducting surveys

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5.0

Learn to infer the information from the data collected.

Lecture Outline
1.0

Market Competitive Pay Systems: Building Blocks

2.0

Salary Survey: Challenges

2.0

Why (the need for) Survey

3.0

Scope of survey

4.0

Preparing for the survey

5.0

Identifying survey Methods

6.0

Statistical Analysis
WORKSHOP/ SEMINAR

Presentation by Students on Research Paper and the submission of paper in hard


copy
Next week:
Presentation by Students on Compensation Trends
WEEK 9
Linking Results with Pay
Topic Overview
With the opening up of the economy and introduction of computer and internet
technology at work place, in order to retain the competitive advantage, most of the
organisation started changing their size and shape. The size shrunk and shape
flattened. This change was mandated at higher pace because of dynamism in
global economy and ever-changing technology. With the smaller size of organisation
headcount, the productivity per employee became the prime focus for measuring
the organisational efficiency. This change in the scenario necessitated the need to
design a compensation system which will be linked with the performance of the
employee. The compensation system which will denounce the sense of entitlement
when it comes to employee taking the salary home and encourage the sense of
earning.

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Chapter Objectives
After studying this chapter, the students will be able to:
1.
2.
3.
4.
5.
6.

Understand the market competitive compensation system


Conduct compensation survey
Critically analyse the data collected through survey
Explain various approaches to Compensation survey
Understand the compensation policies
Integrate the internal job structure with external market trends

Lecture Outline
1.0

Constructing a pay structure


1.0
1.1
1.2
1.3
1.4

Deciding the number of pay structure


Determining a market pay line
Defining Pay grades
Calculating pay ranges
Evaluating the results

2.0

Designing Merit Pay System

3.0

Designing Sales Incentive Compensation Plans

4.0

Designing Pay-for-knowledge program

5.0

Pay structure variation

SEMINAR
Students Presentation on Compensation trends
Rough Draft/ Progress of the project to be discussed
Next WEEK : Mid Term Exam (Best of two)

WEEK 10
Team Based Pay
Topic Overview
Is organisation the sum total of various functions in the organisation? Or, are these
functions interrelated, striving for the common goal, which makes the organisation
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bigger than the sum total of its all functions put together and the delta is the social
aspect of the organisation? The debate intensely heats up, when it comes to
deciding the compensation system, that the human is an economic man or a social
man. It is realised that the contribution from each individual employee in the
organisation is important but ability of an employee to work as a team is also not of
lesser, if not more, importance. The management of the modern organisations has
been demanding the Star Teams rather than the Team of Stars, emphasising
the need for team performance. In the era of super-specialisation and multidisciplinary approach becoming the way of life in the modern organisations, it
becomes necessary to carve out the compensation system which is based on team
performance.

Chapter Objectives
After studying this chapter, the students will be able to:
1.
2.
3.
4.

Understand the design of team in contemporary organisations


Analyse the work of teams
Decide on the kinds of pay plans useful for compensating team members.
Differentiate among skill based pay, pay for knowledge and competency
based pay

Lecture Outline
1.
2.
3.
4.
5.
6.
7.
8.
9.

Kinds of team
Team designs
Analysing team work
Self managed work team
Skill-Based Pay,
Knowledge-based pay,
Competency-based pay
Knowledge, Skill and Ability Model
Incentives program for Team Members

SEMINAR
Mid Term Exam

Next week:
Presentation by Students on Does working in team affect the productivity of
the individual?
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WEEK 11
Sales Compensation Plan

Topic Overview
More and more organisations, including the fortune companies are realising that
conventional methods of rewarding the sales team are not being effective in
todays world. Management has started feeling that the conventional methods are
not achieving its desired out come and are failing to hold on the performing talents,
whereas Sales team is losing the confidence in the prevailing conventional systems
as they think that despite they being the revenue earner, their efforts are not
appreciated and rewarded. With all this uncertainty and potential conflict, its
understandable that some companies ignore warning signs and delay developing a
new sales compensation plan. By not redesigning a planor creating an ineffective
planhowever, companies can find themselves behind the competition; losing
precious market share, customer share, and high performers; and generating
subpar performance and results.

Chapter Objectives
After studying this chapter, the students will be able to:
1.

Align the sales compensation plan with Business Strategies.

2.

Understand how to maximise the companys growth potential through the


sales compensation plan.

3.

Critically analyse the financial benefits or reworking the plan.

4.
Demonstrates the importance of involving various constituencies,
especially sales team.
5.

Design, implement, and administer a new sales incentive plan.

Lecture Outline
1.

Why Change a Sales Compensation Plan? Is It Worth the Risks?

2.

What Tells You the Sales Compensation Plan Really Is Broken?

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3.

How Do You Know When Your Sales Compensation Plan Is Really Broken?

4.

Design and Implementation

5.

Administration

6.

Auditing and Modifying

7.

Some Final Thoughts on Designing a Sales Compensation Plan

WORKSHOP
Presentation by Students on Does working in team affect the
productivity of the individual?
Next Week:
Presentation by Students on compensation system of two different organisations.

WEEK 12
Performance Management
Topic Overview
The prerequisite for linking performance with the compensation is to evolve a
system to measure and manage performance. As HR professionals, we understand
the performance management is critical process to ensure optimal efficiency in an
environment which is highly dynamic and ever changing. Having said this, there is
no denial from the fact that the one of the biggest HR challenges any organisation
faces is to implement effective and acceptable performance management system,
which is not perceived as ineffective or subjective or full of bias.
Chapter Objectives
After studying this chapter, the students will be able to:
1. Implement performance management system as tool to raise performance
bar.
2. Align the Performance management process with management objective
3. Analyse development needs through appraisal system
4. Understand the challenges related to appraisal process
5. Enable an organisation to articulate business and individual objectives
Lecture Outline
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1. Performance Management as an on-going Process
2. Mechanics of a Business-Driven Objective Setting Process
3. Multisource Performance Feedback as an Assessment Tool
4. Maximise Performance Evaluation and Development
5. The Appraisal Interview
6. Development Planning
7. Framework in Actionizing Performance Through Feedback and Coaching
WORKSHOPS
Presentation by Students on compensation system of two different
organisations.

WEEK 13
International Compensation Management
Topic Overview
In order to seamless industrial growth for the growing economy like India, It is so
very important for to insure industrial harmony. The divide between the capitalist
and labour in India is increasingly narrowing down. The numbers of Industrial
disputes are sharply on decline. Labour laws and their effective implementation has
played an important role, though there is lot is desired to be done in terms of more
effective implementation of and revision of labour laws in order to pace up to be
the race to be among top two economies of the world. There are some laws which
are directly related to compensation plan.
Chapter Objectives
After studying this chapter, the students will be able to:
1.0 Learn about different provisions of the following acts impacting
compensation plans
1.1 The Payment of Bonus Acts, 1965
1.2 The Payment of Gratuity Act, 1972
1.3 The Minimum Wages Act, 1948
1.4 The Payment of Wages Act, 1936
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1.5 The Employee State Insurance Act, 1948
1.6 Employees Provident Funds and Miscellaneous Provisions Act 1952
Lecture Outline
1.0

The Payment of bonus Act, 1965: Historical Development

2.0

Meaning of Bonus

3.0

Extent and Application

4.0

Definitions

5.0

Eligibility for bonus

6.0

Payment of Minimum Bonus

7.0

Payment of Maximum Bonus

8.0

Inspector/penalty/ Offences
WORKSHOPS
Case Studies

1.0

The Payment of Gratuity Act, 1972: Historical Bakground

2.0

Necessity of the Act

3.0

Salient feature of the Act

4.0

Condition for gratuity

5.0

Quantum of gratuity
WORKSHOPS
Case Studies

WEEK 14
International Compensation Management
Topic Overview
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Continued from week 13
In order to seamless industrial growth for the growing economy like India, It is so
very important for to insure industrial harmony. The divide between the capitalist
and labour in India is increasingly narrowing down. The numbers of Industrial
disputes are sharply on decline. Labour laws and their effective implementation has
played an important role, though there is lot is desired to be done in terms of more
effective implementation of and revision of labour laws in order to pace up to be
the race to be among top two economies of the world. There are some laws which
are directly related to compensation plan.
Chapter Objectives
After studying this chapter, the students will be able to:
1.0 Learn about different provisions of the following acts impacting
compensation plans
1.1 The Payment of Bonus Acts, 1965
1.2 The Payment of Gratuity Act, 1972
1.3 The Minimum Wages Act, 1948
1.4 The Payment of Wages Act, 1936
1.5 The Employee State Insurance Act, 1948
1.6 Employees Provident Funds and Miscellaneous Provisions Act 1952
Lecture Outline
1.0

The Minimum Wages Act, 1948: Bakground

2.0

Concept of Minimum Wages

3.0

Extent and Application

4.0

Fixing of Minimum rates of wages

5.0

Advisory Boards
WORKSHOPS
Case Studies

1.0

The Payment of Wages Act, 1972:

2.0

Necessity of the Act

3.0

Definitions in the Act

4.0

Responsibilities

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5.0

Fixation of wage Period

6.0

Penalty for Offences


WORKSHOPS
Case Studies

WEEK 15
International Compensation Management
Topic Overview
Continued from Week 14
In order to seamless industrial growth for the growing economy like India, It is so
very important for to insure industrial harmony. The divide between the capitalist
and labour in India is increasingly narrowing down. The numbers of Industrial
disputes are sharply on decline. Labour laws and their effective implementation has
played an important role, though there is lot is desired to be done in terms of more
effective implementation of and revision of labour laws in order to pace up to be
the race to be among top two economies of the world. There are some laws which
are directly related to compensation plan.
Chapter Objectives
After studying this chapter, the students will be able to:
1.0 Learn about different provisions of the following acts impacting
compensation plans
1.1
1.2
1.3
1.4
1.5
1.6

The Payment of Bonus Acts, 1965


The Payment of Gratuity Act, 1972
The Minimum Wages Act, 1948
The Payment of Wages Act, 1936
The Employee State Insurance Act, 1948
Employees Provident Funds and Miscellaneous Provisions Act 1952

Lecture Outline
1.0

The Employees State Insurance Act 1948:

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2.0

Extent and Application

4.0

Definitions

5.0

Applicability: Registration of every factory and establishment

6.0

Contributions

7.0

Benefits

WORKSHOPS
Case Studies
Wrap up I

WEEK 16
Employees Provident Funds and Miscellaneous Provisions Act 1952
Topic Overview
Continued from Week 15
In order to seamless industrial growth for the growing economy like India, It is so
very important for to insure industrial harmony. The divide between the capitalist
and labour in India is increasingly narrowing down. The numbers of Industrial
disputes are sharply on decline. Labour laws and their effective implementation has
played an important role, though there is lot is desired to be done in terms of more
effective implementation of and revision of labour laws in order to pace up to be
the race to be among top two economies of the world. There are some laws which
are directly related to compensation plan.
Chapter Objectives
After studying this chapter, the students will be able to:
1.0 Learn about different provisions of the following acts impacting
compensation plans
1.1 The Payment of Bonus Acts, 1965
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1.2
1.3
1.4
1.5
1.6

The Payment of Gratuity Act, 1972


The Minimum Wages Act, 1948
The Payment of Wages Act, 1936
The Employee State Insurance Act, 1948
Employees Provident Funds and Miscellaneous Provisions Act 1952

Lecture Outline
1.0

Employees Provident Funds and Miscellaneous Provisions Act 1952

2.0

Act and the schemes

3.0

Extent and Application

4.0

Definitions

5.0

Inspector/penalty/ Offences
WORKSHOPS
Case Studies

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GUIDELINE FOR THE PROJECT: 20 MARKS

Suggested Format for MBA Project (25 Marks) (Hard Bound)

PRELIMINARY PAGES

Title Page

Title short (length is 10-12 words); reflective of the content, problem, and
the main variables to be studied; free of value judgment; should be written
in inverted pyramid boldface, and capital letters
Authors Name / Month and Year of Completion
Institutional Affiliation

Deed of Declaration
Acknowledgment
Certificate of the Company (if any)
Certificate of the University (AURO)
Preface
- brief, comprehensive summary of the contents of the manuscript or
synthesis of the study which includes the objectives, methodology, highlights of
the results, conclusions, and recommendations)
Table of Contents
List of Tables
List of Figures
List of Appendixes Tables
List of Appendix Figures
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I CHAPTERS

INTRODUCTION
-

gives the background of the project and the rationale for conducting
the
Study

Background of the Study


-

Should be the platform for the significance of the study


Should identify information gap
May cite at most five authorities

Statement of the Problem


-

identifies the research gaps


justifies the conduct of the study
states the questions that the study hopes to answer
serves as a guide in formulating the specific objectives

Objectives of the Study


-

states the general and specific objectives


should be consistent with the problem
should be clearly stated and logically presented

Hypotheses of the Study


-

states the researchers expectations concerning the relationships


between the
Variables in the research problem
Significance of the Study
-

points out the vital contribution of the results of the study and
who will
Benefit from it.
Scope and Limitations of the Study
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-

sets the delimitations and establishes the boundaries of the study


(delimits the study in terms of size and area of coverage)
states what the study will not cover or will not do
identifies the weaknesses and constraints which may affect the
results of the study

Definition of Terms
-

includes conceptual and/or operational definitions

hanging indention and alphabetically arranged

II REVIEW OF RELATED LITERATURE


-

consists of both the research and conceptual literatures but more


on the
Former (at least 60 %)

Subsections can be included, which are based on objectives. All


subtopics must be italicized and boldly written.
References must be properly cited in all paragraphs using
author/year format. (Please see APA for the detailed format).
Rules on paragraphing must be strictly followed. A paragraph
should have at least two sentences. It should not be too long.
- should consist of at least 10 pages

III

THEORETICAL /CONCEPTUAL/OPERATIONAL FRAMEWORK

IV

discusses the theories linking the topic to the available body of


knowledge
presents relationships between different specific constructs the
researcher wants to study
specifies the relationships between and among variables
may consist of a combination of mathematical, graphical, and/or
diagrammatical presentations

METHODOLOGY
-

describes how the study was conducted

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Research Design
-

specifies whether descriptive, causal/explanatory, correlational,


comparative, exploratory, evaluative or combination of two or more
designs

Sources of Data
-

specifies the sources of primary and/or secondary data

Method of Data Collection/Data Collection Procedure


-

indicates the sampling procedures (if primary data) and the data
collection methods such as survey, questionnaire, and others

Analytical Procedures/Methods of Analysis


-

indicates the most appropriate statistical tools used in analyzing


both quantitative and qualitative data
Mathematical expressions must be italicized and numbered
accordingly
-

All models/equations must be properly numbered

- All major/key variables must be properly measured/categorized


indicating their
specific units of measure. The
sources of formulas must be indicated in the text.

RESULTS AND DISCUSSION

-summarizes thedata collected and the statistical results in sufficient


detail to justify conclusions
-

uses tables and graphs to supplement the text


all figures must be numbered consecutively with their labels
written below the figures
The allowable font sizes for the figures are 10-14. All figures must
be placed immediately after the page where a particular figure

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number is mentioned. All figures must be well explained in the text
and all figure numbers must be mentioned properly in the text.
- includes information about the obtained magnitude or value of the
test statistic, degree of freedom, probability, and the direction of
the effect
- evaluates/interprets the implications of the original hypothesis
emphasizes any theoretical consequences of the results and
compares results with the work of others)
- Subtopic sand their sequencing must follow the specific objectives of
the study
-

VI

Mostly in the past tense; some are in the present tense

SUMMARY, CONCLUSIONS, AND RECOMMENDATIONS


Summary
Conclusions
Recommendations

BIBLIOGRAPHY

section

should be alphabetically arranged


All the references cited in the text must be included in this

APPENDIXES
-

may include verbatim instructions to participants; original scales


or
Questionnaires, and raw data; statistical calculations; and instrument
Used.

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SAMPLE OF PROJECT

FACTORS INFLUENCING CONSUMER DEMAND FOR


GENERIC DRUGS IN DASMARINAS, CAVITE

A Project Report
Presented to the Faculty of the
School of Management & Entrepreneurship
AURO University
Surat

In Partial Fulfilment
Of the Requirements for the Degree of
Master of Business Administration

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Submitted by:

Submitted to:
October 2014

DEED OF DECLARATION
I, __________________________________, hereby submit my research paper entitled
_____________________________________________________
___________________________________ And truthfully declare that the above-titled
paper is a product of my original research investigation.

I further declare that, should the school eventually discover that a substantial
portion of my paper is lifted, in to, from original sources, using exactly the
words of the author in more than 50% of the whole content, I reserve the right
to AURO University, Surat to recall my MBA Diploma and cancel the degree
granted to me.

Signed this day of __________________________ at AURO University, Surat

___________________________
MBA Candidate

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CERTIFICATE (any company if any)

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CERTIFICATE (AURO)

You will get the certificate from the programme office.

ACKNOWLEDGMENT
I heartily wish to extend heartfelt appreciation and gratitude to numerous Mentors,
benefactors, and constituents who have collectively endowed the Wherewithal,
faith and encouragement for me to navigate and complete my Project journey.

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To Professor Kamlesh Mishra, my primary advisor and unflaggingadvocate, who
mustered devoted, continuing, innovative and adaptivementorship to impel and
shepherd my checked efforts through diverse andabounding challenges, I extend
my deep and abiding respect and many, manythanks.
To Professor Jyoti Chandwani, my supporting advisor, who gently and patiently
endured my academic tardiness, I offer commensurate veneration?
To ---Concerned person of the organisation (if doing in any organisation) my
surrogate champion and --------------, who afforded me much beneficial counterpoint
to the pecuniary burdensand administrative vagaries of their institution, I affirm my
humbleesteem.
To the faculty and staff of the School of Management and Entrepreneurship, AURO
University, Surat.
To (any more you want to)

PREFACE

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TOPIC OF THE PROJECT INBOLDMaster of Business Administration, AURO
University, Surat, March 2013.

This study was an attempt to determine the .

TABLE OF CONTENTS
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Page

BIOGRAPHICAL DATA

iii

ACKNOWLEDGMENT

IV

PREFACE

LIST OF TABLES

VI

INTRODUCTION

BACKGROUND OF THE STUDY

STATEMENT OF THE PROBLEM

REVIEW OF RELATED LITERATURE

LIST OF TABLES

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CHAPTER I

INTRODUCTION
(4 spaces)

Background of the Study


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The demand for medicines. (2 spaces all throughout the text)


(3 spaces)

Statement of the Problem

The government has been exerting its efforts


(3 spaces)

Objectives of the Study


(2 spaces)
The study generally aimed to (Cite here both the general and specific
objectives)
(3 spaces)

Hypotheses of the Study


(2 spaces)
the following hypotheses were tested in the study:
1.
2.
(3 spaces)

Significance of the Study


The results of this study will be of significant value to a number of sectors in
society which are
The key actors
(3 spaces)
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Scope and Limitations of the Study


(3 spaces)

Definition of Terms ((2 spaces all throughout the section)

Branded medicine refers to a medicine manufactured by a licensed holder currently


Protected or has been protected by a patent.

Consumer refers to the potential user of medicines.

Generic drugs refers to medicines with the same active ingredients and the same
dosage forms as those of the original/branded medicines but manufactured by
different licensed holders.

CHAPTER II
REVIEW OF RELATED LITERATURE
(4 spaces or 2 double spaces)

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CHAPTER III
THEORETICAL/CONCEPTUAL/OPERATIONAL FRAMEWORK
(4 spaces)

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CHAPTER IV
RESEARCH METHODOLOGY
Research Design
(2 spaces)
The study will utilize both descriptive and causal research designs. The
research problems and objectives posed at the beginning of the study will be
answered through a descriptive research design. The design will focus on
describing the respondents personal and family profile as well as their perceptions
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towards generic drugs. A five-point Likert scale survey questionnaire will be used
to obtain the data. A causal approach will be used to identify the factors that affect
the consumers demand for generic drugs.
(3 spaces)
Time and Place of the Study
The study will be conducted in .
Sources of Data

Data Collection Procedure

Analytical Procedures

CHAPTER V
RESULTS AND DISCUSSION
(4 spaces)
Socioeconomic Profile of the Respondents
(2 spaces)
Age.The
________________________________________________________________
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________________________________________________________________________

(2 spaces)
Gender__________________________________________________________________
________________________________________________________________________
3 spaces)

Perception of the Consumers Towards


Generic Drugs
(2 spaces)
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________

Generic Medicines Purchased by the Consumers

________________________________________________________________________
________________________________________________________________________

Reasons for Purchasing Generic Drugs


________________________________________________________________________
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________________________________________________________________________

Factors Affecting the Demand for


Generic Drugs
________________________________________________________________________
________________________________________________________________________

CHAPTER VI
SUMMARY, CONCLUSIONS, AND RECOMMENDATIONS
Summary
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________________________________________________________________________
________________________________________________________________________

Conclusions
_______________________________________________________________________
_
________________________________________________________________________

Recommendations
(2 spaces)

________________________________________________________________________
________________________________________________________________________

BIBLIOGRAPHY
GENERAL GUIDE TO FORMATTING A BIBLIOGRAPHY
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For a book:
Author (last name first). Title of the book. City: Publisher, Date of publication.
EXAMPLE:
Dahl, Roald. The BFG. New York: Farrar, Straus and Giroux, 1982.

For an encyclopaedia:
Encyclopaedia Title, Edition Date. Volume Number, "Article Title," page numbers.
EXAMPLE:
The Encyclopaedia Britannica, 1997. Volume 7, "Gorillas," pp. 50-51

For a magazine:
Author (last name first), "Article Title." Name of magazine. Volume number, (Date):
page numbers.
EXAMPLE:
Jordan, Jennifer, "Filming at the Top of the World." Museum of Science Magazine.
Volume 47, No. 1, (Winter 1998): p. 11.

For a newspaper:
Author (last name first), "Article Title." Name of newspaper, city, and state of
publication. (Date): edition if available, section, page number(s).

EXAMPLE:
Powers, Ann, "New Tune for the Material Girl." The New York Times, New York, NY.
(3/1/98): Atlantic Region, Section 2, p. 34.

For a person:
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Full name (last name first). Occupation. Date of interview.
EXAMPLE:
Smeckleburg, Sweets. Bus driver. April 1, 1996.

For a film:
Title, Director, Distributor, Year.
EXAMPLE:
Braveheart, Dir. Mel Gibson, Icon Productions, 1995

CD-ROM:
Disc title: Version, Date. "Article title," pages if given. Publisher.
EXAMPLE:
Compton's Multimedia Encyclopaedia: Macintosh version, 1995. "Civil rights
movement," p.3. Compton's News media

Magazine article:

Author (last name first). "Article title." Name of magazine (type of medium). Volume
number, (Date): page numbers. If available: publisher of medium, version, date of
issue.
EXAMPLE:
Rollins, Fred. "Snowboard Madness." Sports Stuff (CD-ROM). Number 15, (February
1997): pp. 15-19. SIRS, Mac version, Winter 1997.
Newspaper article:
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Author (last name first). "Article title." Name of newspaper (Type of medium), city
and state of publication. (Date): If available: Edition, section and page number(s). If
available: publisher of medium, version, date of issue.
EXAMPLE:
Stevenson, Rhoda. "Nerve Sells." Community News (CD-ROM), Nassau, NY. (Feb
1996): pp. A4-5. SIRS, Mac. Version, spring 1996.

Online Resources
Internet:
Author of message, (Date). Subject of message. Electronic conference or bulletin
board (Online). Available e-mail: LISTSERV@ e-mail address
EXAMPLE:
Ellen Block, (September 15, 1995). New Winners. Teen Booklist (Online). Helen
Smith@wellington.com

World Wide Web:


URL (Uniform Resource Locator or WWW address). author (or item's name, if
mentioned), date.
EXAMPLE: (Boston Globe's www address)
http://www.boston.com. Today's News, August
1, 1996.
Following are very popular style for creating Bibliography
1.
2.
3.
4.
5.
6.

APA Style (American Psychological Association)


Chicago Manual of Style / Turabian Style
CGOS Style - Columbia Guide to Online Style
CBE Style -Council of Biology Editors
Harvard Style
MLA Style (Modern Language Association)

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APPENDIXES

Pattern of End Term Exam: Weightage 50%


SECTION A

Q1.

Attempt any Four Questions

15 * 4= 60 Marks

1.
2.
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3.
4.
5.
6.

Section B
Q1. Write short notes on any Four of the following:

5 * 2 = 10 Marks

1.
2.
3.
4.
5.
6.

SECTION C

Please read the following two cases and answer the questions given at the end of
each. (Compulsory)
15 * 2 = 30 Marks
1.
2.
COMPENSATION MANAGEMENT

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