1) Explain the compensation philosophies adopted by different organizations for providing compensation.
2) What do you mean by 360-degree performance appraisal? Write down its advantages and disadvantages.
3) What do you understand by internal equity and external equity in compensation systems? Why such parity is significant in an organisation?
4) What do you understand by an incentive? Explain the different types of incentive system.
5) Describe briefly the statutory provisions governing different components of rewards system.
6) Write brief notes on:
(a) Wage Boards.
(b) Performance Based Pay.