Answer Posted / parixit dwivedi
MIS: Management Information System- A Sytem dedicated for
maintaining records for day to day activities within and
external to the firm. Like- Attendance, Employee records,
Supply details etc.
Compensation Mangement: Would be related to compensation
provided for or aginst services, activities or products
used.eg: salary to employees for his active support in
delivery.
However its more specific to the situation wherein the
compensation has to be provided.
eg: Out of court settlements, Employee compensation based
upon his reimbursement-Salary etc.
Compensation is a general term would refer to an act or
deed of providing monetary/fiscal or replacement for
certain use of services, products or facilities.
So Compensation Mangement is a practice taken up by
firms/individuals to provide Fiscal/ Monetary etc. benefits
against the use of services,products and facilites of
individual &/or firms.
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