2014 (May)
COMMERCE
(Speciality)
Course: 603 (Compensation
Management)
Full Marks: 80
Pass Marks: 32
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. Answer the following as directed: 1x8=8
(a)
Compensation is a quid pro quo' arrangement. (Write True or False)
(b) Profit
sharing is one of the elements of indirect compensation. (Write True or False)
(c) The
surplus value theory of wages owes its development to ______. (Fill in the blank)
(d) The
recommendations of the ______Pay Commission is currently in force for the
employees of the Central Government. (Fill
in the blank)
(e)
Performance appraisal is an assessment of performance, in terms of
(i)
productivity
(ii)
quality
(ii)
effectiveness
(iv) All
of the above (Choose the correct answer)
(f) One
limitation of individual incentive is that it may lead to quality problems. (Write True or False)
(g)
Mention one of the features of effective incentive plans.
(h) As per
the Equal Remuneration Act, payment of equal remuneration is to be made to men
and_____ for the same work of regular nature. (Fill in the blank)
2. Write
short notes on any four of the following: 4x4=16
(a)
Essentials of a sound wage plan
(b)
Tournament theory
(c)
Functions of Wage Boards
(d) Characteristics
of an effective performance reward plan
(e)
Executive compensation system and policy
(f) International compensation management
3. (a)
Explain the concept of compensation. Discuss the principles that should guide
the formulation of an appropriate compensation policy. 4+8=12
Or
(b) Bring out the objectives of employees' compensation.
Discuss the importance of compensation management in an organisation. 5+7=12
4. (a)
Discuss the economic theories related to compensation. What are the limitations
of economic theories? 8+3=11
Or
(b) What are the factors influencing compensation
management? Discuss in detail with suitable examples. 11
5. (a)
What do you mean by compensation structure? What are the components of modern
compensation structure? 3+8=11
Or
(b)
Discuss the process of designing compensation system. 11
6. (a) Explain various types of incentive with the help of
suitable examples. 11
Or
(b) Define
performance appraisal. Discuss the
approaches to performance appraisal. 2+9=11
7. (a) How does an organisation's nature of product or services,
market expansion and growth plan affect compensation? Explain your answer with
the help of suitable examples. 11
Or
(b) Discuss various legal enactments governing compensation in India.
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