• Entry
  • Reader's guide
  • Entries A-Z
  • Subject index

Compensation

Compensation can be understood, generally, as a benefit that is received for a loss. If Abe damages Betty’s property, then Abe may owe Betty compensation. In the sense at issue here, compensation is the amount of pay and other benefits that people receive in exchange for work. If Abe goes to work for Betty, he may receive compensation in the form of a salary, a car allowance, or retirement contributions. Compensation can be studied from a nonmoral or a moral perspective. From a nonmoral perspective, writers consider the causes and effects of certain compensation policies and decisions. From this perspective, compensation is a part of strategy. In this entry, the focus will be on compensation as a moral phenomenon. That is, the focus will be ...

    • Loading...
    locked icon

    Sign in to access this content

    Get a 30 day FREE TRIAL

    • Watch videos from a variety of sources bringing classroom topics to life
    • Read modern, diverse business cases
    • Explore hundreds of books and reference titles