BUSI 2312U Chapter Notes - Chapter 3: Markov Chain, Crowdsourcing, Delphi Method
Document Summary
Estimated of future resource needs and changes. A forward group discussion where numbers meet face - to face, write down their ideas, and share them. All new thoughts on a topic are recorded and ranked for importance. The soliciting of predictions about specified future events from a panel of experts, using repeated surveys until convergence in opinions occurs. Extending past rates of change into the future. Is a method of estimating future employment needs by matching employment growth with a selected index/ a common example is the ratio of production employees to sales. Budget and planning analysis: organizations that need hr planning generally have detailed budgets and long - range plans. New venture analysis: when new ventures complicate employment planning, planners can use new - venture analysis. New - venture analysis requires planners to estimate hr needs by comparison with firms that already perform similar operations.
