MAN 6635 FINAL EXAM QUESTIONS WITH
COMPLETE REVIEWED CORRECT
ANSWERS.ALREADY GRADED A+
Consider what global forces in the near future that might affect the supply of or demand for labor -
answer ✔✔-Forecasting supply & demand
Consider how much labor will we need
Benchmarking, statistical methods, subject matter experts (educated guesses) - answer ✔✔-Forecasting
Demand
Consider how much labor will we have
Requires us to anticipate how people will move up through (and out of) the company. We do this using a
Transitional Matrix.
Also requires us to examine our business environment by asking these questions:
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? - answer ✔✔-Forecasting Supply
Comparing the results of demand and supply forecasting tells us whether we're likely to have a surplus
or a shortage.
Depending on which one we forecast, we plan to implement various strategies for creating equilibrium. -
answer ✔✔-Surplus vs. shortage in supply and demand forecasting
Downsize
Reduce pay
Demotions
Transfers
Early retirement
,Wait for natural attrition
Hiring freeze - answer ✔✔-Methods for correcting a surplus
Companies choose this strategy when:
- Attempting to reduce costs
- Closing or altering production facilities
- Outsourcing and offshoring for economic reasons
Human suffering is high
- Financial and psychological damage - Which is worse?
- Damage to future employment chances over time
- Skill erosion - answer ✔✔-Downsizing
- Often irreplaceable people are let go
- Survivors just work harder
- Survivors become disillusioned - answer ✔✔-Drawbacks of downsizing
- Existing people work harder
- Use temporary employees
- Outsource
- Promote from within
- Decrease voluntary turnover
- Recruit and hire new people - answer ✔✔-Methods for correcting a shortage
An enterprise's employees - answer ✔✔-Workforce
The pool of potential employees from which the firm attracts and hires its workforce - answer ✔✔-
Labor Force
, Availability of data
- IHR professionals must often develop such data from independent sources.
- MNEs should not make the assumption that local labor forces will be adequate to provide the talent
they need.
Increasing Diversity of Labor Forces
Brain Drain
Lack of Suitable Candidates for Management
Populations Characteristics - answer ✔✔-Challenges of international staffing
Ethnocentric
Polycentric
Global - answer ✔✔-Approaches to MNE staffing:
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
Advantages
- HQ staff familiar with company goals, products, technology, policies, and procedures
- HQ staff knows how to get things done through HQ
COMPLETE REVIEWED CORRECT
ANSWERS.ALREADY GRADED A+
Consider what global forces in the near future that might affect the supply of or demand for labor -
answer ✔✔-Forecasting supply & demand
Consider how much labor will we need
Benchmarking, statistical methods, subject matter experts (educated guesses) - answer ✔✔-Forecasting
Demand
Consider how much labor will we have
Requires us to anticipate how people will move up through (and out of) the company. We do this using a
Transitional Matrix.
Also requires us to examine our business environment by asking these questions:
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? - answer ✔✔-Forecasting Supply
Comparing the results of demand and supply forecasting tells us whether we're likely to have a surplus
or a shortage.
Depending on which one we forecast, we plan to implement various strategies for creating equilibrium. -
answer ✔✔-Surplus vs. shortage in supply and demand forecasting
Downsize
Reduce pay
Demotions
Transfers
Early retirement
,Wait for natural attrition
Hiring freeze - answer ✔✔-Methods for correcting a surplus
Companies choose this strategy when:
- Attempting to reduce costs
- Closing or altering production facilities
- Outsourcing and offshoring for economic reasons
Human suffering is high
- Financial and psychological damage - Which is worse?
- Damage to future employment chances over time
- Skill erosion - answer ✔✔-Downsizing
- Often irreplaceable people are let go
- Survivors just work harder
- Survivors become disillusioned - answer ✔✔-Drawbacks of downsizing
- Existing people work harder
- Use temporary employees
- Outsource
- Promote from within
- Decrease voluntary turnover
- Recruit and hire new people - answer ✔✔-Methods for correcting a shortage
An enterprise's employees - answer ✔✔-Workforce
The pool of potential employees from which the firm attracts and hires its workforce - answer ✔✔-
Labor Force
, Availability of data
- IHR professionals must often develop such data from independent sources.
- MNEs should not make the assumption that local labor forces will be adequate to provide the talent
they need.
Increasing Diversity of Labor Forces
Brain Drain
Lack of Suitable Candidates for Management
Populations Characteristics - answer ✔✔-Challenges of international staffing
Ethnocentric
Polycentric
Global - answer ✔✔-Approaches to MNE staffing:
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
Advantages
- HQ staff familiar with company goals, products, technology, policies, and procedures
- HQ staff knows how to get things done through HQ
