ASSIGNMENT

LC Code: 02536
Roll No: 1302016257
DRIVE SPRING 2014
PROGRAM MBADS (SEM 3SEM 5!
MBA"LE# MBAN2 (SEM 3!
PGD$RMN (SEM 1!
S%B&ECT CODE ' NAME M%0010 ( MANPO)ER PLANNING '
RESO%RCING
B* ID B1765
CREDIT ' MAR*S 4 C+ed,-./ 60 01+2.
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Forecasting is the process in business marketing and web development of determining
what the business market that you are engaged in looks like demographically. It can also
involve attempting to predict the movements of the existing market going forward so
market strategies and business plans can be developed to anticipate and meet the
changing demands. Many different forecasting strategies are used, and each market will
have specific models that have worked in the past.
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Persistence forecasting is based on the concept that current weather conditions can
reveal clues to tomorrow's forecast. Meteorologists who rely on this forecasting method
predict that current conditions will persist, or continue unchanged. hey make
observations using thermometers and barometers to assess the weather, then theori!e that
the next few days will feature similar weather patterns. his forecasting techni"ue works
best in areas with predictable weather patterns, such as a tropical !one or an arctic region.
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#ynoptic or analogue forecasting is a method of predicting the weather based on
accepted theories and principles of meteorology. his techni"ue re"uires some skill and
training, and incorporates weather maps, radar and satellite images. Forecasters combine
these tools with information about atmospheric pressure, air flow and temperatures to
come up with a forecast. #ynoptic forecasting served as the primary method of predicting
the weather through the $%&'s and '('s. It's still used today for short term predictions.
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#tatistical or climatological forecasting allows meteorologists to make predictions
based on historical trends. It assumes consistent weather patterns over time. Forecasters
examine historical information about average, high and low temperatures to estimate
future temperature ranges. hey also examine historical storm records and precipitation
amounts and use those as a basis for forecasting. For example, a statistical forecaster may
state that the next month will bring rain and cold temperatures because that is considered
the normal condition for this area at this time of year.
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)omputer modeling forecasts represent the most advanced method of predicting the
weather. his method relies on mathematical formulas that are designed to model
atmospheric and weather conditions. *y inputting current weather data, the meteorologist
can calculate future conditions. op weather+related agencies, such as the ,ational
-eather #ervice and ,ational .urricane )enter, rely on this form of forecasting to
maximi!e accuracy.
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.uman resource accounting is the process of identifying and reporting the investments
made in the .uman /esources of an 0rganisation that are presently not accounted for in
the conventional accounting practices. In simple terms, it is an extension of the
1ccounting Principles of matching the costs and revenues and of organising data to
communicate relevant information
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he main ob2ective of ./ accounting is to assign financial value to human capital and
management activities by recording and analy!ing these activities in an economic and
financial context
o furnish cost value information for making proper and effective management
decisions about ac"uiring, allocating, developing and maintaining human
resources in order to achieve cost effective organisational ob2ectives.
o monitor effectively the use of human resources by the management.
o have an analysis of the .uman 1sset, i.e. whether such assets are conserved,
depleted or appreciated.
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alent 3ngagement represents the extent to which the workforce identifies with the
company, is committed to it and provides discretionary effort so that it can be successful.
3ngagement is a key leading indicator for high performance workplaces, improved
employee productivity and subse"uent turnover.4

alent engagement is the level of commitment and involvement a person has
towards his organi!ation and its values.

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)reate and sustain world class processes
)ontribute greatly to society at large
5ower stress and allows healthier lives
1chieve greater work+life balance
1llows more peace on earth
Increase ability to attract new talent
Increase ability to innovate
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Talent development is necessary in any organization because of the following:
alent development is necessary to achieve extra ordinary goals. 3xtraordinary
goals re"uire extraordinary talent
3ffective talent development in an organi!ation reduces turnover at critical
positions, manages succession plans, minimi!es business disruptions, and also
takes care to reduce the risk of non+compliance and litigation.
Identifying and developing talent are the critical steps in retaining the top talents
in an organi!ation. he cost of replacing a valued employee is enormous.
0rgani!ations need to promote diversity and design strategies to retain people,
reward high performance and provide opportunities for development.
.igh Performing organi!ations anticipate the leadership and talent re"uirement to
succeed in the future
his is the only way of improving employee6s productivity through automated
and integrated learning management, performance management, and
compensation management systems to drive business results.
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S-+76-7+e Functional profiles, competency models, and describing paths for growth are
the things companies should implement.
Selective Development Most of the successful organi!ations carry on a close
examination of which are the talent programs and interventions that will be necessary to
reali!e the company strategy.
Process he total infrastructure for talent development should be such that it is a part
of the day+to+day leadership culture.
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/ecruitment is the process of identifying that the organi!ation needs to employ someone
up to the point at which application forms for the post have arrived at the organi!ation.
he process of finding and hiring the best+"ualified candidate 7from within or outside of
an organi!ation8 for a 2ob opening, in a timely and cost effective manner. he recruitment
process includes analy!ing the re"uirements of a 2ob, attracting employees to that 2ob,
screening and selecting applicants, hiring, and integrating the new employee to the
organi!ation.
/ecruitment refers to the overall process of attracting, selecting and appointing suitable
candidates to one or more 2obs within an organi!ation, either permanent or temporary.
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he ob2ective of the recruitment process is to obtain the number and "uality of employees
that can be selected in order to help the organi!ation to achieve its goals and ob2ectives.
$. It reviews the list of ob2ectives of the company and tries to achieve them by promoting
the company in the minds of public.
9. It forecasts how many people will be re"uired in the company.
:. It enables the company to advertise itself and attract talented people.
;. It provides different opportunities to procure human resource.
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#uccession planning is a process whereby an organi!ation ensures that employees are
recruited and developed to fill each key role within the company. hrough your
succession planning process, you recruit superior employees, develop their knowledge,
skills, and abilities, and prepare them for advancement or promotion into ever more
challenging roles. #uccession planning is a process for identifying and
developing internal people with the potential to fill key business leadership positions in
the company. #uccession planning increases the availability of experienced and capable
employees that are prepared to assume these roles as they become available. aken
narrowly, <replacement planning< for key roles is the heart of succession planning.