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Any compensation system is composed of a package of different types of direct, indirect, monetary, nonmonetary, fixed, and variable compensation, and based on a mix of the entitlement philosophy and performance-oriented philosophy. Each organization Forms its own compensation system according to a variety of factors, such as its industry labor market, its strategic objectives, its competitors, and other. 1. Please analyze the compensation system of your organization, prepare a report on its component, (basic, variable, direct, indirect, monetary, and nonmonetary), 2. Explain to what extent it is suitable for achieving your organization's strategic objectives. 3. Suggest modifications that you think can improve the system