MAN 6635 Exam 2 UPDATED
QUESTIONS AND CORRECT ANSWERS
What kind of human resources do we have, what kind are we likely to need, and how do we bring
those into alignment? - CORRECT ANSWER Supply forecasting
Demand forecasting
HR practices
Forecasting Global Supply & Demand - CORRECT ANSWER -What historical events likely
affected the global supply of or demand for labor?
-Who are some people throughout history that likely affected the global supply of or demand for
labor?
-What global forces in the near future that might affect the supply of or demand for labor?
Forecasting Demand - CORRECT ANSWER How much labor will we need?
-Benchmarking
*How much labor does a business like ours use?
Is there any reason why we may differ?
-Statistical Methods
*Look at "leading indicators." For example: Sales this year correlate with labor demand next year
*Does not account for chance, change, rapid fluctuation, or the zombie apocalypse
-Subject Matter Experts- "Educated Guesses"
*Take into account other factors (e.g., new product launches, changes with competitors, changes in
technology, changes in the economy)
How do we forecast supply (how much labor we will have) - CORRECT
ANSWER Transitional Matrix
rows- where did employees in this category in 2013 go by 2016
columns- regarding the employees from 2016 in this category, where were they in 2013.
rows and columns add to 1. see notes
Forecasting Supply - CORRECT ANSWER How much available labor will we have?
,-What's the unemployment rate?
-Is that likely to change?
-What is the overall size of our labor pool?
-Are people training for the jobs for which we anticipate vacancies?
Comparing the results of demand and supply forecasting tells us whether we're likely to have a... -
CORRECT ANSWER Surplus or shortage
Methods for Correcting a Surplus - CORRECT ANSWER Downsize
Reduce pay
Demotions
Transfers
Early retirement
Wait for natural attrition
Hiring freeze
Downsizing - CORRECT ANSWER -attempting to reduce costs
Closing or altering production facilities
Outsourcing and offshoring for economic reasons
Human suffering is high
Financial and psychological damage
Damage to future employment chances over time
Skill erosion
Methods for correcting a shortage - CORRECT ANSWER Existing people work harder
Use temporary employees
Outsource
Promote from within
Decrease voluntary turnover
Recruit and hire new people
, Workforce - CORRECT ANSWER An enterprises employees
Labor Force - CORRECT ANSWER The pool of potential employees from which the firm
attracts and hires its workforce
MNEs will likely need to: - CORRECT ANSWER find staff in whatever location they operate
learn to recruit and hire in multiple locations and cultures
logically deploy staff internationally
Challenge for international workforce planning - CORRECT ANSWER -availability of data
-increasing diversity of labor forces
-brain drain
-lack of suitable candidates for management
-Population characteristics (age)
Staffing for an MNE involves - CORRECT ANSWER hiring at the local level
managing a mobile workforce
Approaches to MNE staffing - CORRECT ANSWER Ethnocentric
Polycentric
Global
Ethnocentric Staffing Approach - CORRECT ANSWER Fill key managerial positions with HQ
staff
Appropriate when:
Local management skill insufficient
Close coordination with HQ is critical
High level of technical capability required
Proprietary technology is used extensively
QUESTIONS AND CORRECT ANSWERS
What kind of human resources do we have, what kind are we likely to need, and how do we bring
those into alignment? - CORRECT ANSWER Supply forecasting
Demand forecasting
HR practices
Forecasting Global Supply & Demand - CORRECT ANSWER -What historical events likely
affected the global supply of or demand for labor?
-Who are some people throughout history that likely affected the global supply of or demand for
labor?
-What global forces in the near future that might affect the supply of or demand for labor?
Forecasting Demand - CORRECT ANSWER How much labor will we need?
-Benchmarking
*How much labor does a business like ours use?
Is there any reason why we may differ?
-Statistical Methods
*Look at "leading indicators." For example: Sales this year correlate with labor demand next year
*Does not account for chance, change, rapid fluctuation, or the zombie apocalypse
-Subject Matter Experts- "Educated Guesses"
*Take into account other factors (e.g., new product launches, changes with competitors, changes in
technology, changes in the economy)
How do we forecast supply (how much labor we will have) - CORRECT
ANSWER Transitional Matrix
rows- where did employees in this category in 2013 go by 2016
columns- regarding the employees from 2016 in this category, where were they in 2013.
rows and columns add to 1. see notes
Forecasting Supply - CORRECT ANSWER How much available labor will we have?
,-What's the unemployment rate?
-Is that likely to change?
-What is the overall size of our labor pool?
-Are people training for the jobs for which we anticipate vacancies?
Comparing the results of demand and supply forecasting tells us whether we're likely to have a... -
CORRECT ANSWER Surplus or shortage
Methods for Correcting a Surplus - CORRECT ANSWER Downsize
Reduce pay
Demotions
Transfers
Early retirement
Wait for natural attrition
Hiring freeze
Downsizing - CORRECT ANSWER -attempting to reduce costs
Closing or altering production facilities
Outsourcing and offshoring for economic reasons
Human suffering is high
Financial and psychological damage
Damage to future employment chances over time
Skill erosion
Methods for correcting a shortage - CORRECT ANSWER Existing people work harder
Use temporary employees
Outsource
Promote from within
Decrease voluntary turnover
Recruit and hire new people
, Workforce - CORRECT ANSWER An enterprises employees
Labor Force - CORRECT ANSWER The pool of potential employees from which the firm
attracts and hires its workforce
MNEs will likely need to: - CORRECT ANSWER find staff in whatever location they operate
learn to recruit and hire in multiple locations and cultures
logically deploy staff internationally
Challenge for international workforce planning - CORRECT ANSWER -availability of data
-increasing diversity of labor forces
-brain drain
-lack of suitable candidates for management
-Population characteristics (age)
Staffing for an MNE involves - CORRECT ANSWER hiring at the local level
managing a mobile workforce
Approaches to MNE staffing - CORRECT ANSWER Ethnocentric
Polycentric
Global
Ethnocentric Staffing Approach - CORRECT ANSWER Fill key managerial positions with HQ
staff
Appropriate when:
Local management skill insufficient
Close coordination with HQ is critical
High level of technical capability required
Proprietary technology is used extensively
