Define forecasting and discuss its importance. Describe the two types of forecasting described in the text.
What will be an ideal response?
Forecasting is developing a vision or projection of the future, which is a necessary component of strategic planning. The two types are trend analysis and contingency planning. Trend analysis is a hypothetical extension of a past series of events into the future. Contingency planning is the creation of alternative hypothetical but equally likely future conditions.
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The corridor is defined as
A) 1% of the greater of the actual projected benefit obligation or the fair value of the plan assets. B) 5% of the greater of the actual projected benefit obligation or the fair value of the plan assets. C) 10% of the greater of the actual projected benefit obligation or the fair value of the plan assets. D) 15% of the greater of the actual projected benefit obligation or the fair value of the plan assets.
Disparate treatment of job applications is permissible as long as an organization is able to hire the quantity of employees it needs
Indicate whether the statement is true or false.
Diamond Plywood, Inc., manufactures four types of plywood panels. Each product must go through the following operations: patching, grading, gluing, and baking. The time in hours required for each operation for each panel, the total capacity available for each of these operations in a given month, as well as the minimum production requirements and the profit contributions per panel are given in the following table. Based on this information, at the optimal production point what is the quantity of tropical plywood panels that Diamond Plywood will produce?
A. 850 B. 450 C. 350 D. 200
________ means allowing employees to make decisions about how service is provided to customers.
A. Quality control B. Authorization C. Standardization D. Empowerment E. Endorsement