The First Step in the Human Resource Planning Process Is

question 4

Multiple Choice

The first step in the human resource planning process is:

• A) forecasting.
• B) goal setting.
• C) program implementation.
• D) program evaluation.
• E) performance evaluation.

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Definitions:

Resource Productivity

The ratio of output (goods and services) produced per unit of resource input, used to assess the efficiency of resource use.

Ceteris Paribus

A Latin phrase meaning 'all other things being equal,' used in economics to isolate the effect of one variable on another by holding all other relevant factors constant.

Resource Prices

The costs associated with the factors of production like labor, capital, land, and entrepreneurship used in the creation of goods or services.

Income Distribution

The way in which a nation's total earnings are divided among its population.