Your Organization Has Asked You to Prepare a Compensation Budget

question 40

Multiple Choice

Your organization has asked you to prepare a compensation budget by taking into account the following variables: current employees' wages,anticipated merit increases,seniority increases,as well as expected turnover.What kind of compensation budgeting process is your organization using?

• A) zero-based
• B) top-down
• C) bottom-up
• D) break-even

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Definitions:

SELL Sequence

A methodical approach in sales that involves Showing the feature, Explaining the advantage, Leading into the benefit, and Letting the customer respond.

SWOT Analysis

A strategic planning tool used to identify and analyze the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

Marketing Mix

The set of actions, or tactics, that a company uses to promote its brand or product in the market, usually framed as the four Ps: Product, Price, Place, and Promotion.

Product Benefit

The value or advantage that a product offers to the customer, often used in marketing and sales pitches to highlight how it meets needs or solves problems.