Income Payments to the Rest of the World Are

question 143

Multiple Choice

Income payments to the rest of the world are

• A) zero.
• B) added to the GDP.
• C) subtracted from the GDP.
• D) not included in the GDP.

Identify different scenarios such as HR gap in human capital management.

Explain the process and steps involved in HR forecasting.

Appreciate the significance of strategic human capital management for competitive advantage.

Understand the terminology used in HR forecasting, such as projection and envelope.

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Definitions:

Demand Estimation

The process of determining the expected demand for a product or service, based on historical data, market trends, and statistical models.

Level Scheduling

A production strategy aiming to maintain a consistent production rate or workforce level over time, despite fluctuating demand.

Hire/Layoff Workers

Hiring and laying off workers are human resources management actions involving the appointment of new staff members and the dismissal of existing employees, respectively, usually based on the company’s current demand and financial situation.

Aggregate Planning

The method of creating, examining, and keeping an initial, rough plan of an organization's total activities.