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Xron Corporation is a large publicly-traded corporation. It employs 5,000 employees primarily in manufacturing jobs. It is currently reviewing industry trends and the leadership is considering whether they should hire a significant number of new employees and whether they should invest more resources in forecasting and planning. Answer the following related questions to forecasting and planning:
1. If forecasting is rarely exact, why should a firm bother doing it?
2. What labor force trends might influence Xron's staffing planning, in your opinion?
3. If the CEO of Xron asked you how investing more resources in forecasting and planning could help the organization compete better, what would you say?
4. In your opinion, what would happen if Xron did not engage in staffing planning? Support your opinion.
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