This course is the third part of the Sales Operations/Management Specialization. In it, we will discuss some of the financial aspects involved in managing a sales force. Students will learn about the options available for sales force compensation, the different types plans you can use to manage your sales expenses, and how you can use quotas to help your salespeople achieve goals.
This course is part of the Sales Operations/Management Specialization
Compensation, Expenses and Quotas
Offered By
Syllabus - What you will learn from this course
Week
15 hours to complete
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.
12 videos (Total 66 min), 1 reading, 3 quizzes
12 videos
Goals of a Sales Compensation Plan1m
Interview: Sydney Eddy from Lavish Botique8m
Manager versus Sales Professionals Perspectives1m
Steps in Developing a Compensation Plan4m
Straight Salary1m
Straight Commission2m
Combination Plan4m
Indirect Monetary Compensation31s
Interview - Scott Stenger from All Makes Vacuum and Sewing Center19m
Week 1 Questions and Answers19m
Week 1 Review1m
1 reading
Motivating Salespeople: What Really Works20m
1 practice exercise
Week 1 Quiz15m
Week
22 hours to complete
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.
7 videos (Total 67 min), 1 reading, 1 quiz
7 videos
Sales Force Expenses2m
Goals of a Sales Expense Plan1m
Interview - Teelin Henderson from Mazak Corporation15m
Interview - Scott Stenger from All Makes Vacuum and Sewing Center19m
Week 2 Questions and Answers23m
Week 2 Review2m
1 reading
Expense Report Abuse: Much Ado about Nothing15m
1 practice exercise
Week 2 Quiz15m
Week
34 hours to complete
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.
8 videos (Total 74 min), 2 readings, 2 quizzes
8 videos
Controlling Expenses4m
Transportation Expenses2m
Interview - Helen Tsang from Lavish Boutique8m
Interview - Scott Stenger from All Makes Vacuum and Sewing Center - Part 111m
Interview - Scott Stenger from All Makes Vacuum and Sewing Center - Part 227m
Week 3 Questions and Answers15m
Week 3 Review2m
2 readings
Why Bosses Can Track Their Employees 24/710m
How Can GPS Vehicle Tracking Improve Your Business?20m
1 practice exercise
Week 3 Quiz15m
Week
42 hours to complete
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.
8 videos (Total 65 min), 2 quizzes
8 videos
Purpose of Sales Quotas1m
Types of Quotas1m
Three Approaches to Setting Quotas2m
Interview - Helen Tsang from Lavish Boutique19m
Interview - Scott Stenger from All Makes Vacuum and Sewing Center20m
Week 4 Questions and Answers17m
Week 4 Review1m
2 practice exercises
Compensation Trends Data20m
Week 4 Quiz15m
4.3
2 ReviewsTop reviews from Compensation, Expenses and Quotas
Surprisingly interesting subject. Very decent lectures.
Instructors
Emily C. Tanner, Ph.D.
Assistant Professor, MarketingCollege of Business and Economics
Suzanne C. Bal
Teaching Assistant Professor, MarketingCollege of Business and Economics
Michael F. Walsh, Ph.D.
Department Chair & Associate Professor of MarketingCollege of Business and Economics
About West Virginia University
Founded in 1867, West Virginia University is moving toward a global destiny. World-class faculty are exploring everything from pulsars to nanoscale technology. Rated as the #2 public university at which to do research and a top-20 best place to work in academia, WVU is collaborating with international academic and research partners.
About the Sales Operations/Management Specialization
Sales jobs span nearly every industry, from agribusiness and pharmaceuticals, to telecommunications and property management. And essential to sales is the management of the sales force. This course provides the knowledge and know how required for careers in sales management. Students are exposed to all facets of sales management, including organizing, selecting, training, motivating, supervising and compensating the sales force, territory management and administration and sales and expense forecasting. Also covered are typical sales management problems and potential solutions. As part of the course, you will meet a number of practicing sales managers who share their experience and knowledge. The learning outcomes are:
· Develop a plan for organizing, staffing and training a sales force.
· Identify the key factors in establishing and maintaining high morale in the sales force.
· Develop an effective sales compensation plan.
· Evaluate the performance of a sales person.
· Organize sales territories to maximize selling effectiveness.
· Evaluate sales and sales management strategies in relation to current legal and ethical standards of practice.
Frequently Asked Questions
When will I have access to the lectures and assignments?
Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
What is the refund policy?
Is financial aid available?
More questions? Visit the Learner Help Center.
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