This course is part of the Sales Operations/Management Specialization

Emily C. Tanner, Ph.D. +2 more instructors

Offered By

Sales Operations/Management SpecializationWest Virginia University

About this Course

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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.

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Course 3 of 5 in the

Sales Operations/Management Specialization

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Reset deadlines in accordance to your schedule.

Approx. 10 hours to complete

English

Subtitles: French, Portuguese (European), Vietnamese, Russian, English, Spanish

Instructors

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Course 3 of 5 in the

Sales Operations/Management Specialization

Flexible deadlines

Reset deadlines in accordance to your schedule.

Approx. 10 hours to complete

English

Subtitles: French, Portuguese (European), Vietnamese, Russian, English, Spanish

Offered by

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.

Syllabus - What you will learn from this course

Week

Week 1

4 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.

4 hours to complete

12 videos (Total 66 min), 1 reading, 3 quizzes

12 videos

Introduction - Week 12m

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

Week 2

2 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.

2 hours to complete

7 videos (Total 67 min), 1 reading, 1 quiz

7 videos

Week 2 Introduction1m

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

Week 3

3 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.

3 hours to complete

8 videos (Total 74 min), 2 readings, 2 quizzes

8 videos

Week 3 Introduction1m

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

Week 4

2 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.

2 hours to complete

8 videos (Total 65 min)

8 videos

Week 4 Introduction1m

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

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?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
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.
Is financial aid available?
Yes, Coursera provides financial aid to learners who cannot afford the fee. Apply for it by clicking on the Financial Aid link beneath the "Enroll" button on the left. You'll be prompted to complete an application and will be notified if you are approved. You'll need to complete this step for each course in the Specialization, including the Capstone Project. Learn more.
Will I earn university credit for completing the Course?
This Course doesn't carry university credit, but some universities may choose to accept Course Certificates for credit. Check with your institution to learn more. Online Degrees and Mastertrack™ Certificates on Coursera provide the opportunity to earn university credit.

More questions? Visit the Learner Help Center.

Compensation, Expenses and Quotas