Your Friend Has Accepted a Position with a Large Manufacturing

question 118

Essay

Your friend has accepted a position with a large manufacturing company as production manager.She has found out that she must analyze and report any variances that relate to production.She has been told that managers use a method called "management by exception" and is concerned that any variance will be viewed negatively by her supervisors.
Required:
Explain to your friend the concept of "management by exception" and put her mind at ease about all variances being viewed as negative and explain what factors may be considered when deciding what variances to investigate.

Acknowledge the significance of succession management in attracting and retaining key talent within an organization.

Appreciate the benefits of having a strong employee value proposition in talent recruitment and retention.

Distinguish the advantages and disadvantages of incorporating internal versus external candidates in succession planning.

Outline the key steps and components involved in an effective succession management process.

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Definitions:

Forecast

A prediction or estimate of future events, especially concerning weather or economic conditions.

Questionnaires

A research instrument consisting of a series of questions for the purpose of gathering information from respondents.

Delphi Method

A forecasting process framework based on the results of multiple rounds of questionnaires sent to a panel of experts.

Panel of Experts

A group of individuals with specialized knowledge or expertise in a particular field, convened to give advice or make decisions.