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The Strategic Analysis The development of a strategic analysis guides all decisions made regarding your compensation systems throughout the project. The strategic analysis reveals firm-specific challenges, objectives, and initiatives that allow you to align the goals of a compensation system effectively with those of the company strategy. The strategic analysis allows you to better understand the external market challenges e-sonic faces in addition to its internal capabilities. As a consultant, a thorough understanding of e-sonic’s business environment allows you to better align your competitive system design with e-sonic’s goals, challenges, and objectives. Follow the outline below when completing this portion of the project. Strategic Analysis Outline: 1. Executive Summary (Concisely conveys the project objectives and main findings. The executive summary is completed last, but included first in the strategic analysis.) 2. Strategic Analysis a) Identification of e-sonic’s industry based on the North American Industry Classification System (NAICS) b) Analysis of e-sonic’s external market environment i. Industry Profile ii. Competition iii. Foreign Demand iv. Long-Term Industry Prospects v. Labor-Market Assessment c) Analysis of Internal Capabilities i. Functional Capabilities ii. Human Resource Capabilities
Final Project Milestone 6 Running Head: FINAL PROJECT MILESTONE Final Project Milestone Your Name Southern New Hampshire University Executive Summary Strategic Analysis (Should include executive summary and strategic analysis. In other words why did you arrive at the plan you chose and how will this drive the business strategically) External Environment Industry profile. Competition. Foreign demand. Long-Term Industry Prospects. Labor-market assessment. Internal Capabilities Functional capabilities. Human resources capabilities. Job Descriptions Job Structures Point Evaluation Method Benchmark Jobs Compensable Facotrs Factor Degree Statements Determining Proper Weights for compensable factors Determining Appropriate Pay-Policy Mix Pay Policy Level Decisions Compensation Survey Competitors Benchmark Jobs Reconciling Differences External Competitiveness Compensation Survey Implementation Interpretation of Results Summary of Decision of Job Structure Placement Appropriate Contributions Policy Historical Perspective Summary References Please remember you need at least five references per milestone or a min. of 15 for the final project Appendix 1 Appendix 2 What is contained in the Appendix… Job Descriptions Job Structures Job evaluation worksheet Other pointers: Remember to avoid first person in APA Remember to avoid personification (companies are not living things so they cannot perform living actions) Remember to avoid starting sentences with pronouns Remember that college-level writing is formal and informal grammar should be avoided Remember this is a milestone paper and the guide I have provided here is what your final paper will look like. You need to review the rubrics for each milestone to determine what must be contained in each. You will have three different milestones, each building on the one prior. Then you will take all three and combine to turn in for your final project grade. You will need to make the suggested changes in each milestone. If you do not make the change the secondary deduction will be higher than the first since you were provided feedback. Each milestone is 5-7 pages, including the body of the paper only. Your title page, reference page and appendix do not count towards the 5-7 page requirement. That means the final project you turn in will be between 15-21 pages in the body of the paper, plus your title page, reference page and appendix. Each headings needs to be supported with evidence and contain in-text citations Grading Exemplary: I would assign this mark if you meet the page length requirement, cover all of the required topics under the heading, and use proper APA formatting, grammar and citation. You must use a citation in every heading and section in order to receive this marking. Proficient: I would assign this mark if you were missing one of the elements listed under the exemplary, but met all the other requirements. Needs Improvement: I would assign this mark if you were missing two or more of the elements listed under the exemplary, but met all the other requirements. Not Evident: I would assign this mark if you do not cover the required section. Finding the Project Information From the course homepage find the “MyManagementLab” tab on the left-hand side of the course. Sign on to the “Pearson” page. I do not have your password info, so if you do not have your info you will need to contact the help desk. Click on your course. ID: martin21384 There are also directions in the announcements on how to access this information Once you are in the course, click on “Building Strategic Compensation Project” You will see both a TXT file and an Excel Spreadsheet. You will need the Spreadsheet later in the project. All of the project info and directions are in the TXT file. Also please remember to review the four rubrics for the project. Websites that may be helpful http://www.occupationalinfo.org/ This one is for point evaluation method: http://www.hr-guide.com/data/G414.htm This one is for factor statements: http://www.weaonline.org/wea_membership/wea_membership_factor.pdf NAICS code: http://siccode.com/en/codes/naics/512230/music-publishers (I would use the same code as companies like iTunes) http://www.hr.ucsb.edu/different-job-families-and-functions-there-are-categories-jobs-and-career-levels-new-job-structure https://www.shrm.org/ResourcesAndTools/tools-and-samples/toolkits/Documents/designing%20a%20pay%20structure_im_9.08.pdf https://hr.lehigh.edu/benchmark-vs-non-benchmark-jobs Here is a site you may need for help with APA. http://libguides.snhu.edu/c.php?g=92369&p=596377