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Question Description

This is done in an Excel Spreedsheet

The Strategic Analysis:

The development of a strategic analysis guides all decisions made regarding your compensation systems throughout the project. The strategic analysis revealsfirm-specific challenges, objectives, and initiatives that allow you to align the goals of a compensation system effectively with those of the company strategy.The strategic analysis allows you to better understand the external market challenges e-sonic faces in addition to its internal capabilities. As a consultant, athorough understanding of e-sonic’s business environment allows you to better align your competitive system design with e-sonic’s goals, challenges, andobjectives. Follow the outline below when completing this portion of the project.Strategic Analysis Outline:1. Executive Summary (Concisely conveys the project objectives and main findings. The executive summary is completed last, but included first in thestrategic analysis.)2. Strategic Analysisa) Identification of e-sonic’s industry based on the North American Industry Classification System (NAICS)b) Analysis of e-sonic’s external market environmenti. Industry Profileii. Competitioniii. Foreign Demandiv. Long-Term Industry Prospectsv. Labor-Market Assessmentc) Analysis of Internal Capabilitiesi. Functional Capabilitiesii. Human Resource CapabilitiesThe Strategic Analysis section is fully described in the MyManagementLab Building Strategic Compensation Systems casebook for faculty and students, linked inthe MyLab course menu. Follow the explanations and outline to complete this milestone. T