ENTREPRENEURIAL OPERATIONS
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Expansion of industry
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Shortage of labor
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Abundance of capital
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None of the above
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Detailed explanation-1: -Demand forecasting is the process of assessing and forecasting how many people are needed, their age structure, their professional structure, their educational level structure, their professional and technical poststructure, and their skill structure in the future.
Detailed explanation-2: -HR Demand forecasting must consider several factors-both external well as internal. Among the external factors are competition (foreign and domestic), economic climate, laws and regulatory bodies, changes in technology, and social factors.
Detailed explanation-3: -Human resource management is the key to business growth. It can help the business achieve its goals and objectives by optimizing employee productivity and effectiveness. For a business to grow, it is essential to have a well-functioning human resource department.