Using the information discussed in Compensation: Theory, Evidence, and Implications textbook, completed a 2-3 page essay answering the following questions:•    What is the purpose of compensation management and why should an organization spend time creating an effective system for their company?•    What are the difference types of pay structures/level discussed and what is an example of a firm that would benefit from each type?•     If you were to create a compensation method for your own firm, what would you chose and why?