You are the HR manager of a company and the CEO has asked you to assist her in forecasting future human resources needs. She would like to use a forecasting technique which will generate an exchange of ideas amongst division directors and that will lead to greater acceptance of results. Which technique do you use?
A) The nominal group technique
B) Trend analysis
C) Regression analysis
D) An informal expert forecast
E) A formal expert forecast

Question

Quizplus · Accepted Answer

The nominal group technique is a highly participatory approach to forecasting that involves group brainstorming and discussion. This technique encourages the exchange of ideas and opinions, and allows for a more collaborative and inclusive approach to forecasting. It is often used to generate ideas, make decisions, or solve problems in a group setting. It is an effective technique for building consensus and gaining acceptance of results, thus making it the best choice for the CEO's requirements. Trend analysis, regression analysis, informal expert forecast, and formal expert forecast are all useful forecasting techniques, but they do not necessarily involve the same level of participation and collaboration as the nominal group technique.

You Are the HR Manager of a Company and the CEO