Upon completion of the Required Readings, write a thorough, well-planned narrative answer to the following discussion question. Rely on your Required Readings and the Lecture and Research Update for specific information to answer the discussion question, but turn to your original thoughts when asked to apply, evaluate, analyze, or synthesize the information. Your Discussion Question response should be both grammatically and mechanically correct, and formatted in the same fashion as the question itself. If there is a Part A, your response should identify a Part A, etc. In addition, you must appropriately cite all resources used in your responses and document in a bibliography using APA style.
Discussion Question 3-1 (50 points)
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.