Compensation, Expenses and Quotas from Coursera

What's inside

Syllabus

Compensation Overview

This module focuses on sales force compensation. In this segment, we will identify the goals of a sales force compensation plan. We will compare the different viewpoints that managers and salespeople have towards compensation. We will discuss the various steps in developing a compensation plan and identify how managers determine overall levels of compensation for their sales force. We will describe the basic methods used today in compensating the sales force and discuss the pros and cons of each. Finally, we will discuss indirect monetary compensation and its role in sales force compensation.

Methods of Compensation

This week we will discuss the role of expenses in sales force compensation. We will describe the goals of a sales expense plan and the various issues relating to sales force expense management such as IRS rules and regulations. Finally we will provide a discussion on the importance of providing well defined policies with regard to expense reimbursement. A well-defined sales force expense policy should be used as a tool to aid sales in their efforts to develop and grow customer relationships.

Managing Sales Expenses

This week we will focus on Expense Control. We will discuss alternative methods available to sales managers in controlling sales force expenses. We will discuss the pros and cons of each method. Next we will discuss the use of automobiles as a transportation expense used by the salesforce to travel to their customers. We will evaluate the option of providing a company car for each salesperson to use in their daily contact with customers. If the firm chooses to provide a company car, which alternative is best for the firm: lease or purchase? Finally, we will look at sales transportation costs using the salesperson’s personal vehicle and what type of reimbursement options may be used with this approach.

Sales Expense Control

This week our discussion will focus on Sales Quotas. We will define what we term a “sales Quota” and discuss the purpose of sales quotas in measuring sales performance. We will discuss various options in setting sales quotas and evaluate each in terms of its potential benefits and shortcomings. Finally we will assess different approaches to setting quotas such as territory potential, through the use of historical data or a by asking for the salesperson’s own insight into quota estimation.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Develops compensation plans, an essential component of sales operations

Builds core sales skills, such as expense management and quota setting

Relevant to professionals in sales operations and management

Taught by instructors recognized for their expertise in sales management

Requires familiarity with sales operations fundamentals

Part of a specialization, suggesting a broader curriculum

Reviews summary

Sales compensation overview

According to students, this course provides a great overview of sales compensation and is a must take course. It is a difficult, but engaging course that delivers an elite level of education.

Well-structured course

"A must take course"

"Deeply appreciate WVU efforts making such an elite level of education available online."

Provides good overview

"It provides a good overview of the subject matter, helps to gain a general understanding of this important topic on sales."

Challenging course

"Great class - however tough getting course completion to show."

"It is a difficult course, but it is well worth the effort."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Compensation, Expenses and Quotas with these activities:

Basic Math Skills Review

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Strengthen your math skills to improve your ability to analyze sales data and make informed decisions.

Browse courses on Math

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Review basic arithmetic operations (addition, subtraction, multiplication, division).
Practice solving math problems related to sales scenarios.

Review: Sales Management: A Global Perspective

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Gain a broader perspective on sales management by reviewing this authoritative textbook, which covers global sales strategies and best practices.

View International Business on Amazon

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Read the key chapters relevant to the course topics.
Take notes on the main concepts and ideas.

Course Material Review

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Enhance your learning by reviewing the course materials, including lecture notes, videos, and readings.

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Watch assigned videos and take notes on key points.
Review the course syllabus and identify key topics.
Go through lecture notes and identify important concepts.
Read assigned readings and summarize the main ideas.

Four other activities

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Compensation Plan Analysis

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Deepen your understanding of compensation plans by compiling and analyzing real-world examples.

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Gather compensation plans from various sales organizations.
Analyze the components of each compensation plan.
Identify the commonalities and differences among the plans.
Develop a summary of your findings.

Peer Discussion: Sales Force Compensation

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Engage in peer-to-peer learning and exchange insights on sales force compensation strategies.

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Join a study group or discussion forum.
Prepare questions and talking points.
Participate in discussions and share your perspectives.

Sales Force Management Workshop

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Advance your sales force management knowledge and skills by attending a workshop led by industry experts.

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Attend the sales force management workshop.
Participate in interactive exercises and discussions.
Network with other sales professionals.

Case Study: Implementing a Quota System

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Put your knowledge of quota systems into practice by developing and implementing a quota system for a hypothetical sales team.

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Define the goals and objectives of the sales team.
Determine the sales potential of the territory.
Set individual sales quotas for each salesperson.
Develop a plan to monitor and track sales performance.
Evaluate the effectiveness of the quota system and make adjustments as needed.

Career center

Learners who complete Compensation, Expenses and Quotas will develop knowledge and skills that may be useful to these careers:

Sales Manager

Sales managers develop and execute sales strategies, manage sales teams, and analyze sales data to improve performance. This course can help you develop the skills needed to be a successful sales manager, including how to create a sales compensation plan, manage sales expenses, and set sales quotas.

See salaries and explore the career path for Sales Manager

Sales Operations Analyst

Sales operations analysts collect and analyze data to help sales teams improve their performance. This course can help you develop the skills needed to be a successful sales operations analyst, including how to analyze sales data, identify trends, and make recommendations for improvement.

See salaries and explore the career path for Sales Operations Analyst

Sales Engineer

Sales engineers provide technical support to sales teams and customers. This course can help you develop the skills needed to be a successful sales engineer, including how to understand customer needs, develop technical solutions, and manage sales expenses.

See salaries and explore the career path for Sales Engineer

Salesforce Administrator

Salesforce administrators manage Salesforce software, which is used by sales teams to track their activities and manage their relationships with customers. This course includes a module on salesforce, which can help you develop the skills needed to be a successful salesforce administrator.

See salaries and explore the career path for Salesforce Administrator

Sales Compensation Analyst

Sales compensation analysts develop and administer sales compensation plans. This course can help you develop the skills needed to be a successful sales compensation analyst, including how to design a sales compensation plan, calculate sales bonuses, and manage sales expenses.

See salaries and explore the career path for Sales Compensation Analyst

Business Analyst

Business analysts gather and analyze data to help organizations improve their performance. This course includes a module on business analysis, which can help you develop the skills needed to be a successful business analyst.

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Logistics Manager

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Operations Manager

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Supply Chain Manager

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Product Manager

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Marketing Manager

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Project Manager

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Data Analyst

Data analysts collect and analyze data to help organizations make better decisions. This course includes a module on data analysis, which can help you develop the skills needed to be a successful data analyst.

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Financial Analyst

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Management Consultant

Management consultants help organizations improve their performance. This course includes a module on management consulting, which can help you develop the skills needed to be a successful management consultant.

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