1 | Page
MIE 330 - Exam 2 - Chapter 5 Questions
and Correct Answers/ Latest Update /
Already Graded
Forecasting
Ans: Determine the supply of and demand to predict areas within the
organization where there will be future labor shortages or surpluses
Leading indicator
Ans: An objective measure that accurately predicts future labor
demand
In the cattle industry, the price of corn is closely related to the cost of beef
Transitional matrix
,2 | Page
Ans: An objective measure that accurately predicts future labor
demand.
Typically these matrices show how people move in one year from one
state (outside the organization) or job category to another state or job
category.
What are different options for surplus or shortages
Ans: Surplus - downsizing, pay reductions, demotions, transfers, work
sharing, hiring freeze, natural attrition, early retirement, retraining
Shortage - overtime, temporary employees, outsourcing, retrained
transfers, turnover reductions, new external hires, technological innovation
Outsourcing
, 3 | Page
Ans: An organization's use of an outside organization for a broad set of
services.
Downsizing
Ans: The planned elimination of large numbers of personnel, designed to
enhance organizational effectiveness.
Although one tends to think of downsizing as something that a company
turns but the organizations initiating the cutbacks were making a profit at
the time
Offshoring
MIE 330 - Exam 2 - Chapter 5 Questions
and Correct Answers/ Latest Update /
Already Graded
Forecasting
Ans: Determine the supply of and demand to predict areas within the
organization where there will be future labor shortages or surpluses
Leading indicator
Ans: An objective measure that accurately predicts future labor
demand
In the cattle industry, the price of corn is closely related to the cost of beef
Transitional matrix
,2 | Page
Ans: An objective measure that accurately predicts future labor
demand.
Typically these matrices show how people move in one year from one
state (outside the organization) or job category to another state or job
category.
What are different options for surplus or shortages
Ans: Surplus - downsizing, pay reductions, demotions, transfers, work
sharing, hiring freeze, natural attrition, early retirement, retraining
Shortage - overtime, temporary employees, outsourcing, retrained
transfers, turnover reductions, new external hires, technological innovation
Outsourcing
, 3 | Page
Ans: An organization's use of an outside organization for a broad set of
services.
Downsizing
Ans: The planned elimination of large numbers of personnel, designed to
enhance organizational effectiveness.
Although one tends to think of downsizing as something that a company
turns but the organizations initiating the cutbacks were making a profit at
the time
Offshoring
