ENTREPRENEURSHIP

Detailed explanation-1: -Manpower planning is the process of determining the number and kind of human resources required to achieve the objectives of the organisation. Manpower planning ensures the right man to the right job at the right time at right place.

Detailed explanation-2: -Need of Manpower Planning Shortages and surpluses can be identified so that quick action can be taken wherever required. All the recruitment and selection programmes are based on manpower planning. It also helps to reduce the labour cost as excess staff can be identified and thereby overstaffing can be avoided.

Detailed explanation-3: -Manpower planning is the process of estimating the optimum number of people required for completing a project, task or a goal within time. Manpower planning includes parameters like number of personnel, different types of skills, time period etc.

Detailed explanation-4: -Demand forecasting is the detailed process of determining future human resources needs in terms of quantity-the number of employees needed-and quality-the caliber of talent required to meet the company’s current and future needs.