Compensation and Pricing - Qualitygradeprofessors

If an organization decides to hire employees, the decision must be made about the compensation method. In addition, you must be able to determine how to price a good or service to be competitive. Assume that you decide to hire employees for your project. Prepare a brief essay that addresses the following:

How do you determine the proper pay scale for the employees?
How do you determine pricing for your company to be competitive and yet profitable?