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Write a short paper defining compensation, compensation philosophy, and critical components of a compensation strategy. Provide one solid example of an effective compensation practice/policy. Must

Write a short paper defining compensation, compensation philosophy, and critical components of a compensation strategy. Provide one solid example of an effective compensation practice/policy.

Must include the following:

definition of compensation;

overview of compensation philosophy;

critical components of a compensation strategy; and

example of an effective compensation practice/policy.

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