1. A basic premise of a market-based economy is that each individual has the opportunity through education, experience, hard, work, etc. to improve his or her job earning potential. As a result, some employees may enjoy greater earnings than their colleagues. Assess how an organization can create a fair, market-competitive compensation system that provides greater rewards for those who earn it, yet is viewed as fair and equitable by the organization2.The job description is often referred to as the building block of human resources. Nearly every employment action recruitment, compensation, discipline, etc. is predicated on an effective job description.Today, there is considerable debate whether job descriptions should be broader and more generic, versus narrow and more specific. Distinguish between the advantages and disadvantages of each approach, and which you see as the more preferable approach.