MHR 849 Chapter Notes - Chapter 3: Market Environment, Competitive Intelligence, Human Resources
25 Mar 2015
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Document Summary
Identify the sources that hr planners use to keep current with business and hr trends. Pull from sources of information and use methods of forecasting. Publications: newspapers, publications, magazines, journals and newsletters. Competitive intelligence: formal approach to obtain information about competitors: only 23% of companies able to do so, can hire competitor"s employees, methods might border on illegal or unethical, subjected to two evaluation questions: Environmental scanning the monitoring of trends affecting the organization, which consists of scanning, monitoring, forecasting, and assessing. Environmental scanning: systematic monitoring of trends affecting the organization. Scanning: attempt to identify early signals of change and trends in environment: is ambiguous, incomplete and unconnected. Monitoring: a systematic approach to following some key indicators that may affect the organization, such as legislative changes. Forecasting: after monitoring a trend, an attempt to project the possible impact on the organization.
