Terms in this set (25)
the method used to implement the reward structure in an organization
a fixed sum of money paid at regular intervals
the compensation paid by commission or bonus that direct salespeople's efforts toward specific strategic objectives during a given time period
a payment based on short-term results, usually a salesperson's dollar or unit sales volume
a payment made at the discretion of management for achieving or surpassing some set level of performance
the minimum requirement a salesperson must reach to earn a bonus.can be based on goals for sales volume, profitability of sales, or various account servicing activities
get reps to compete for prizes like vacations and clothes. they encourage extra effort aimed at specific short-term objectives
part of a compensation package designed to satisfy the salesperson's basic needs for security. They typically include medical and disability insurance, life insurance, and a retirement plan
incentives in addition to financial compensation such as opportunities for promotions or various types of recognition for performance like special awards or citations
A formal reimbursement plan for travel, lodging, meals, entertainment, and other expenses incurred by sales reps in the field.
might include higher compensation, a better car, better office facilities, and the like to provide incentives for top salespeople to move into more advanced sales positions
refers to what sales people do - that is, the tasks on which they expend effort while working
behavior evaluated in terms of its contribution to the goals of the organization. has a normative element reflecting whether a salesperson's behavior is good or bad, appropriate or inappropriate, in light of the organization's goals and objectives
refers to some measure of organizational outcomes for which a sales person is at least partly responsible.
reflect statistics the sales manager can gather from the firm's internal data. These measures are best used when they reflect elements of the sales process
Typically rely on personal evaluations by someone inside the organization, usually the salesperson's immediate supervisor of how he or she is doing. gathered via direct observation but may involve input from customers and other sources.
objective measures of performance that represent the results of efforts expended by a salesperson
objective measures of performance that focus on the efforts sales representatives expend rather than the results of those efforts
Combining various outputs or inputs in selected ways. Grouped by expense rations, account development and servicing ratios, and call activity/productivity.
refers to the degree to which performance evaluations differ from objective reality, usually based on errors by the evaluator (the sales manager)
occurs when a sales manager allows the outcome of a decision or a series of decisions made by a salesperson to overly influence the performance ratings made by the manager
BARS (behaviorally anchored rating scale)
an approach to performance appraisal directed at resolving problems related to the selection of attributes for evaluation and how they are presented on the form
360-degree performance feedback
solicits information for performance evaluation simultaneously from multiple sources, such as external customers, internal customers, selling team members, sales assistants, the sales manager and the salesperson herself
salespeople prepare an assessment of their own performance against the established objective and subjective performance criteria. Par of the 360=degree performance feedback and should be done before the formal performance review session with the manager
performance management system
integrates all the elements of feedback on the process of serving customers so that performance information is timely, accurate, and relevant to the customer management aspects of the firm
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