What Would Be the First Step in HR Forecasting Once

question 53

Multiple Choice

What would be the first step in HR forecasting once an organization has identified its organizational goals,objectives,and plans?

• A)to examine data from a variety of perspectives
• B)to determine the overall demand requirements for personnel (i.e. ,what staff are needed,when,and where)
• C)to assess in-house skills and other internal supply characteristics
• D)to determine the net demand requirements that must be met from external environmental supply sources

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Definitions:

Maximin Criterion

A decision rule used in statistics and game theory that focuses on maximizing the minimum payoff or outcome attainable, often applied under conditions of uncertainty.

Expected Value of Perfect Information (EVPI)

A concept in decision theory that represents the maximum amount a decision-maker would be willing to pay for having perfect information before making a decision, highlighting the value of removing all uncertainty.

Prune the Branch

A strategy in decision-making and optimization processes that involves eliminating options or paths that are unlikely to lead to the best outcome.

Expected Value of Perfect Information (EVPI)

A concept in decision theory that quantifies the maximum worth of having precise and complete information when making a decision.