Job Compensation And Mixes1executive Summaryjob Compens ✓ Solved

The paper discusses the company profile for the e-sonic Company, which falls under the Computer Manufacturing industry. It further details several factors that impact its businesses externally. Some of the factors discussed are competition, innovation, technological change, the impacts of international piracy, and human resources. The paper compares the various compensation strategies for leading companies like Amazon and eBay. It proposes that the e-Sonic Company can overcome the external obstacles through the right job mixes and good pay for its employees.

E-Sonic is a company located in Rosh Haayin, Israel. It is part of the computer manufacturing industry. It has a total of 25 employees across all its locations. The Company generates revenue of about three million in sales. It falls under the computer manufacturing industry and deals with electronic computer system software development.

The study aims to look at all the marketing conditions externally and develop a compensation program for all the employees who work within the Company. External factors have tangible impacts on the compensation strategy at the Company. The online music industries have been affected by numerous challenges, including illegal music downloads and international piracy, which has forced the e-music company's profit to decline. Also, innovation has been defining for the online music industries. Companies like Amazon have been able to expand their market share solely because of their innovative strategies.

Competition from Other Firms

Competitiveness in the e-music industry has rapidly increased. Some of the prominent industry companies are Amazon, iTunes, Dell, and eBay. Competition in the e-music sector has increased due to the reduction in the cost of retailing physical music devices such as the Discs. Overall, when the internet is used correctly, it allows the companies to reduce physical retailing costs of physical music media.

Technological Change

Another external factor that affects e-sonic Company is technological change. Since the 1990s, technology has rapidly evolved, and contemporary advances have brought forth new products supporting the e-music industry. The e-sonic Company needs to tap into the market through various favorable marketing strategies to utilize the expanded market.

Innovation

Innovation is another key driver of success for the e-music industry. The success of e-music depends on how much the companies give to consumers during business transactions. Companies that innovate are more likely to succeed in the e-music marketplace.

Identifying a Market Niche

Another external factor that affects the e-music industry is the focus on niche marketing. The e-music sector could focus on providing specific types of music not easily available elsewhere, enhancing their competitive edge.

International Piracy

The main external factor affecting the success of e-sonic is international piracy and illegal music download. Piracy leads to lost revenues for e-sonic and other similar companies.

Human Resource and Compensation

Human resource is another essential element that defines the success of e-music industries. The company needs skilled employees to meet its objectives and deliver quality service, highlighting the importance of a competitive compensation package.

Conclusion

To expand its market both locally and internationally, e-Sonic needs to motivate its employees by enhancing compensation. It should also look to attract a diverse group of employees to maximize its market potential.

Paper For Above Instructions

The importance of job compensation and strategic mixes is paramount in today’s competitive e-music industry. The e-Sonic Company, a small player in the increasingly competitive computer manufacturing sector, is facing considerable challenges due to external factors that are shaping the market landscape. These factors—competition, technological advancement, innovation, piracy, and human resources—play crucial roles in the compensation strategy that e-Sonic must adopt.

Competition within the e-music industry has never been more fierce. Major players like Amazon, iTunes, Dell, and eBay dominate the market and pose continued threats to emerging companies. According to Berg et al. (2007), the rise of inexpensive physical music distribution has made it easier for these companies to attract consumers. E-Sonic must recognize that competition is not just a matter of product offering but extends to compensation strategies as well. A company that fails to attract talent due to low compensation will automatically struggle against those offering more lucrative packages.

Technological change is another critical external factor. Since the 1990s, advancements in technology have fundamentally transformed the way consumers interact with music. The proliferation of smartphones and better internet connectivity means that e-Sonic has a broader market to tap into. Companies need to keep pace with technological trends and adapt their compensation strategies accordingly, ensuring that their workforce remains skilled in the latest technologies (Berg et al., 2007).

Innovation, such as the introduction of voice-controlled features by Amazon, is reshaping how e-music companies serve their customers (TelecomDrive Bureau, 2018). E-Sonic must ensure that it is not just keeping up but leading in terms of innovative offerings. Compensating employees who contribute to innovation through bonuses or profit-sharing schemes might foster a culture of creativity that can help to develop exclusive features that differentiate e-Sonic from competitors.

In addition to competition and technology, the challenge of international piracy is ever-present. According to Hawke (2017), piracy affects revenues significantly, as unauthorized downloading leads to lost sales. This issue necessitates not just a robust product offering but also employee motivation to address the piracy epidemic effectively through better service and enhanced customer loyalty strategies. Proper compensation can aid in that drive.

Human capital is essential to the success of e-Sonic. Employees must be skilled and motivated to deliver high-quality product offerings that meet market demands. Companies like Amazon and eBay set a standard for compensation, with eBay's average salary significantly higher than that of Amazon (Hawke, 2017). To compete effectively, e-Sonic must assess its compensation strategy to attract and retain talent.

Findings indicate that e-Sonic currently pays its employees lower salaries compared to industry giants, making it challenging to attract skilled professionals. Based on the patterns observed from the leading companies, e-Sonic should consider adjusting its salary ranges in order to be more competitive (Amazon music salaries, n.d.). A mere increase in pay, however, is not a standalone solution; the company must invest in employee well-being through meaningful engagement programs, benefits, and a positive work environment.

In summary, the e-music industry will continue to evolve. Companies like e-Sonic must stay ahead of these changes by embracing competitive compensation strategies that attract quality talent. By focusing on factors affecting employee compensation—competition, technology, innovation, piracy, and human resources—e-Sonic can foster an environment that is conducive to growth and market expansion.

References

• Amazon music salaries. (n.d.). Glassdoor.
• Berg, A., Fransson, J., & Sorendal, F. (2007). Competitiveness in the Music Industry [Unpublished doctoral dissertation]. Jonkoping.
• Hawke, S. (2017, February 14). E-sonic compensation project. HubPages.
• Telecomdrive Bureau. (2018, August 29). Amazon Prime Music launches innovative voice controls powered by Alexa. Telecom Drive.