Exam 5: Forecasting and Planning

How can competitor forecasts influence a firm's forecast of its own future business activity?

New salespeople at a retail store generate an average of $50,000 in profit their first year.In addition,the reduced workload on the rest of the sales staff improves their efficiency and ability to provide high-quality customer service by 10 percent.This is worth an additional $20,000 to the company.The cost of hiring and training a new salesperson is expected to be $3,000 and $8,000 respectively.The salary for this position is $35,000.What is the return on investment of hiring an additional salesperson?

The employer health insurance mandate in the 2010 Patient Protection & Affordable Care Act,requires employers with at least 50 full-time employees to provide government-approved,affordable health insurance to at least 95 percent of their employees and dependents beginning in 2014.

Early retirement programs are a common way of dealing with temporary employee surpluses.

Identify the primary limitation of all forecasting techniques.

Which of the following is a way in which many organizations try to reduce their need for skills that will be in short supply for a number of years?

Which of the following are detailed records or databases that summarize each employee's skills,competencies,education,training,languages spoken,and chances of being promoted?

Which of the following,if true,would require a company to make adjustments to its historical employee-productivity ratios?

After the gaps between the firm's labor supply and labor demand are identified,a firm should:

Business process outsourcing is the relocation of an entire business function,such as production,manufacturing,or customer service,to an independent service provider in the same or a different country.

Typically,when interest rates rise,

If the proportion of high-potential applicants increases,the total number of applicants needed to generate the right number of the right quality of new hires decreases.

A firm's internal and external staffing costs were $50,000,and 5 people were hired,each with a starting base salary of $40,000.What would be the firm's staffing efficiency?

Compare and contrast workload-driven forecasting and staffing efficiency-driven forecasting.

Which of the following would be most useful for a firm needing to quickly reassign employees to an important new project?

Which of the following is more likely to warrant changes in an organization's compensation policy and induce it to offer above-market wages?

Why is it usually best to supplement the ratio,scatter plot,and trend forecasting methods with managerial judgment?

Which of the following observations is true?

What are talent inventories and replacement charts,and how are they used in forecasting labor supply?

Which of the following events suggests that a home improvement store such as Home Depot or Lowe's will need fewer workers in the next 1-3 years?