MU0010 –Manpower Planning and Resourcing Winter / November 2011

Smumbaassignment.com Email : [email protected]

Winter / November 2011

Master of Business Administration

Semester III

MU0010 –Manpower Planning and Resourcing - 4 Credits

Assignment Set- 1 (60 Marks)

Note: Each Question carries 10 marks. Answer all the questions.

Q1.What are the benefits of manpower demand forecasting?

Demand forecasting is the activity of estimating the quantity of a product or service that

consumers will purchase. Demand forecasting involves techniques including both informal

methods, such as educated guesses, and quantitative methods, such as the use of historical sales

data or current data from test markets. Demand forecasting may be used in

makingpricing decisions, in assessing future capacity requirements, or in making decisions on

whether to enter a new market

Determination of the demand forecasts is done through the following steps:

• Determine the use of the forecast

• Select the items to be forecast

• Determine the time horizon of the forecast

• Select the forecasting model(s)

• Gather the data

• Make the forecast


http://en.wikipedia.org/wiki/Market_entry

http://en.wikipedia.org/wiki/Pricing


• Validate and implement results

The time horizon of the forecast is classified as follows:

Description Forecast Horizon

Short-range Medium-range Long-range

Duration Usually less than 3

months, maximum of

1 year

3 months to 3 years More than 3 years

Applicability Job scheduling,

worker assignments

Sales and production

planning, budgeting

New product

development, facilities

planning

How is demand forecast determined?

There are two approaches to determine demand forecast – (1) the qualitative approach, (2) the

quantitative approach. The comparison of these two approaches is shown below:

Description Qualitative Approach Quantitative Approach

Applicability Used when situation is vague &

little data exist (e.g., new products

and technologies)

Used when situation is stable &

historical data exist

(e.g. existing products, current

technology)

Considerations Involves intuition and experience Involves mathematical techniques

Techniques Jury of executive opinion

Sales force composite

Time series models

Causal models



Delphi method

Consumer market survey

Qualitative Forecasting Methods

Your company may wish to try any of the qualitative forecasting methods below if you do not

have historical data on your products' sales.

Qualitative Method Description

Jury of executive opinion The opinions of a small group of high-level managers are

pooled and together they estimate demand. The group uses

their managerial experience, and in some cases, combines the

results of statistical models.

Sales force composite Each salesperson (for example for a territorial coverage) is

asked to project their sales. Since the salesperson is the one

closest to the marketplace, he has the capacity to know what

the customer wants. These projections are then combined at

the municipal, provincial and regional levels.

Delphi method A panel of experts is identified where an expert could be a

decision maker, an ordinary employee, or an industry expert.

Each of them will be asked individually for their estimate of

the demand. An iterative process is conducted until the

experts have reached a consensus.

Consumer market survey The customers are asked about their purchasing plans and

their projected buying behavior. A large number of

respondents is needed here to be able to generalize certain



results.

Quantitative Forecasting Methods

There are two forecasting models here – (1) the time series model and (2) the causal model. A

time series is a s et of evenly spaced numerical data and is o btained by observing responses at

regular time periods. In the time series model , the forecast is based only on past values and

assumes that factors that influence the past, the present and the future sales of your products will

continue.

On the other hand, t he causal model uses a mathematical technique known as the regression

analysis that relates a dependent variable (for example, demand) to an independent variable (for

example, price, advertisement, etc.) in the form of a linear equation. The time series forecasting

methods are described below:

Time Series

Forecasting

Method

Description

Naïve Approach Assumes that demand in the next period is the same as demand

inmost recent period; demand pattern may not always be that stable

For example:

If July sales were 50, then Augusts sales will also be 50

Time Series

Forecasting

Method

Description



Moving Averages

(MA)

MA is a series of arithmetic means and is used if little or no trend is

present in the data; provides an overall impression of data over time

A simple moving average uses average demand for a fixed sequence

of periods and is good for stable demand with no pronounced

behavioral patterns.

Equation:

F 4 = [D 1 + D2 + D3] / 4

F – forecast, D – Demand, No. – Period

(see illustrative example – simple moving average)

A weighted moving average adjusts the moving average method to

reflect fluctuations more closely by assigning weights to the most

recent data, meaning, that the older data is usually less important.

The weights are based on intuition and lie between 0 and 1 for a total

of 1.0

Equation:

WMA 4 = (W) (D3) + (W) (D2) + (W) (D1)

WMA – Weighted moving average, W – Weight, D – Demand, No.

– Period

(see illustrative example – weighted moving average)

Exponential

Smoothing

The exponential smoothing is an averaging method that reacts more

strongly to recent changes in demand by assigning a smoothing

constant to the most recent data more strongly; useful if recent

changes in data are the results of actual change (e.g., seasonal



pattern) instead of just random fluctuations

F t + 1 = a D t + (1 - a ) F t

Where

F t + 1 = the forecast for the next period

D t = actual demand in the present period

F t = the previously determined forecast for the present period

• = a weighting factor referred to as the smoothing constant

(see illustrative example – exponential smoothing)

Time Series

Decomposition

The time series decomposition adjusts the seasonality by multiplying

the normal forecast by a seasonal factor

Dear Students,

Get your assignments from Our ESTEEMED ORGANIZATION

smumbaassignment.com

Just S M S to + 91 9995105420.

For Getting Complete assignments Solutions, Kindly mail us

on [email protected] OR S M S (message Format - SMU

MBA <Name> <E-MAIL ID> <SEM ? > ) To +91 9995105420 , we will

reach back you with in 24H

Or Directly call our Middle East Office +974 55702886 .



More Info, Kindly visit smumbaassignment.com

Best Regards, Admin


Q2.Distinguish between internal and external sources of recruitment.

Q3.Explain the different levels of talent engagement.

Q4.How does Human Resource Accounting help the organization in its effort for development of employees?

Q5.Describe knowledge management.

Q6.Ms. Lalita Singh has joined Triumphant India Private Limited. As an HR Manager, how would you prepare an induction programme for her?



Winter / November 2011

Master of Business Administration

Semester III

MU0010 –Manpower Planning and Resourcing - 4 Credits

Assignment Set- 2 (60 Marks)

Note: Each Question carries 10 marks. Answer all the questions.

Q1.What are the steps involved in manpower planning?

Man power planning or human resource planning is ³the process by which

management determines how an organization should move from the current

manpower to the desired manpower position. Through planning, a management

strives to have the right number and the right kind of people at the right place,

to do things which result in both individual and the organization receiving the

maximum long range benefit.

Coleman has defined human resource or manpower planning as ³the process of

determining manpower requireme nts and the means for meeting those

requirements in order to carry out the integrated plan of the organization.´

Stainer defines manpower planning as ³strategy for the acquisition, utilization,

improvement, and preservation of an enterprise¶s human resour ces. It relates to



establishing job specifications or the quantitative requirements of jobs

determining the number of personnel required and developing sources of

manpower.

According to Wickstrom, manpower planning consists a series of activities ie

1. forecasting future manpower requirements

2. making an inventory of present manpower resources

3. anticipating manpower problems by projecting present resources into the future

and comparing them with the forecast of requirements to determine their

adequacy, both quantitatively and qualitatively

4. planning recruitment selection, training, development, utilization, transfer, promotion

motivation and compensation to ensure that future manpower requirements are properly met

thus, it will be noted that manpower planning consists in projecting future

manpower requirements and development manpower plans for the

implementation of the projections.

Manpower planning is a double edges sword. If used properly, it leads to the

maximum utilization of human resources, re duces excessive labor turnover and



high absenteeism, improves productivity and aids in achieving organizational

goals. If not used properly, it leads to disruption in the flow of work, lower

production, less job satisfaction, high cost of production and co nstant headaches

for management personnel. Therefore, for the success of an enterprise,

manpower planning is very important function.

The objective of manpower planning is to maintain and improve the

organizations ability to achieve its goal by developing strategies that will

contribute its optimum contribution of human resources. Manpower plan ning is

the responsibility of both line and staff manager. The line management is

responsible to give estimate of manpower requirements and staff manager is

responsible to take actions on selection and recruitment in association with line

manager who needs the man power.

PROCESS OF MANPOWER PLANNING

It is a multi-step process as follows

‡Deciding goals and objectives

‡Estimating future organizational structure and manpower requirements

‡Auditing human resources

‡Planning job requirements and job descriptions

‡And developing human resource plan

DECIDING OBJECTIVES



In effect the main purpose is one of matching or fitting employee abilities to

enterprise requirements, with an emphasis on future instead of present

arrangements. The ultimate mission or purpose is to relate future human

resources to future enterprise needs so as to maximize the future return on

investment in human resources.

ESTIMATING

THE

FUTURE

ORGANIZATIONAL

STRUCTURE

OR

FORECASTING THE MANPOWER REQUIREMENTS.

The management must estimate the structure of the organization at a given point

of time. The number and type of employees needed have to be determined.

Many environmental factors affect this determination. They include business

forecasts, expansion, growth, design, structural changes,

management philosophy, government policy , product and human mix and

competition

Forecasting is necessary because,



‡The eventualities and contingencies of general economic business cycles (such

as inflation, wages, prices, costs and raw material supplies) have an influence

on the short range and long run plans of all organizations.

‡An expansion following enlargement and growth in business involves the use of

additional machineries and personnel and a reallocation of facilities, all of

which call for advance planning of human resources.

‡Changes in management philosophies and leadership styles.

‡The use of mechanical technology necessitate changes in the skills of

workers as well as a change in the number of employees needed.

After estimating what future organization structure should be, the next step is to

draw up the requirements of manpower, both for existing and new vacancies.

For this requirement details should be obtained from various departments.

Vacancies occurring in any department should be notified in writing to the

personnel department, stating clearly the number of vacancies to be fi lled

category or job wise, their qualification and experience and the reasons for

acquisition. A statement of duties, type of jobs, pay scale and previous

experience should also be made.

In determining the requirements of manpower, the expected losses whi ch are

likely to occur through labor turnover - quits, retirement, death, transfers,



promotions, demotions, dismissals. Disability, resignations, lay -offs, and other

separations ± should be taken into account. Additional resources are gained

through new employment of personnel, promotions, transfers etc.

After making all adjustments, the real shortages and surplus may be found off. If a shortage is

there, efforts are made to fill up the vacancies. If there is surplus deal it by transfers,

retrenchments etc.

AUDITING HUMAN RESOURCES

Once the future requirement is estimated the next step is to determine the

present supply of manpower resources. This is done through what is called³skills inventory´

which contain data about each employees skills, abilities,

work preference which indicated his overall value to the company. Other data

pertaining his performance ratings and superior¶s evaluation may also be

tabulated and all these are fed into computers. These details are required by

personnel departments for transfers, promotions and manpower requirement

filling.

JOB ANLYSIS

After having decided how many persons would be needed, it is necessary to

prepare job analysis, which records details of training, skills, qualification,

abilities, experience and responsib ilities. Etc which are needed for the job. Job



analysis include the preparation of job descriptions and job specifications.

DEVELOPING MANPOWER PLAN

This consists in finding out the sources of labor supply with a view to making

an effective use of these factors.

The best policy which is followed by most organizations is to fill up higher vacancies by

promotion and lower level positions by recruitment from labor market. A labor market is a

geographical area from which employees recruit

Dear Students,

Get your assignments from Our ESTEEMED ORGANIZATION


Just S M S to + 91 9995105420.

For Getting Complete assignments Solutions, Kindly mail us

on [email protected] OR S M S (message Format - SMU

MBA <Name> <E-MAIL ID> <SEM ? > ) To +91 9995105420 , we will

reach back you with in 24H

Or Directly call our Middle East Office +974 55702886 .

More Info, Kindly visit smumbaassignment.com

Best Regards, Admin




Q2.What are the major hindrances that one encounters while carrying out manpower planning?

Q3.Describe the different types of selection interviews.

Q4.What benefits does an organization get out by setting up an academy?

Q5.Describe the major approaches of talent development.

Q6.Mr. Aravind works at K&D Company. Recently two fellow team members were shifted to

another team and their work was handed over to him. This affected his performance and also left

him dissatisfied. Finally, he forwarded his resignation letter to the HR Department. The HR

Manager decided to conduct an exit interview with Mr. Aravind. What questions do you think

that the HR manager would want to ask Mr.Aravind?


MU0010 –Manpower Planning and Resourcing Winter / November 2011

Documents

Transcript of MU0010 –Manpower Planning and Resourcing Winter / November 2011