Hrm822 Assignment 2

.docx

School

Seneca College *

*We aren’t endorsed by this school

Course

822

Subject

Management

Date

Jan 9, 2024

Type

docx

Pages

Uploaded by bluelemon0729

Hrm822 Assignment 2 wrote by Henry Ho student id:040385264 Submitted to: Prof. Sarah Gayer 11/12/2023 Table of Content Question 1 ......................................................................................... 3 Question 2 ........................................................................ 4 Question3 .................................................................................................................. 5 Question4 .................................................................................................. 6

Question5 .......................................................................... 7 Question 6………………………………………….8 Question 7……………………………………..9 Question 8………………………………….10 Reference………………………………..11 q1 . Define and explain the significance of the term ‘derived demand’ as it applies to Strategic Human Resources Planning. A: Derived demand refers to the desire for a good or service that results from the necessity of a related good or service. (Barone, 2022)Derived demand is a concept that investigates the

function of labor in the framework of strategic human resource planning. It is predicated on the idea that the amount of work necessary is determined by the demand for the products and services to which the labor contributes. The Cloud is a perfect illustration of this since it has grown in popularity owing to its scalability and simplicity of use. As a result, there has been considerable growth in the need for cloud technology experts. q2 . Explain ‘derived demand’ as it applies specifically to NorOnt Limited A: NorOnt Limited owns a trucking firm, which is referred to as "derived demand" by National Distribution Limited. The trucking firm is motivated by the timely delivery of supplies to NorOnt Limited's food sector. According to the case study, National Distribution Limited accounts for more than 70% of its business demand, which is mostly connected to the transportation of commodities for the food sector and is headquartered at the headquarters of NorOnt Limited in North Bay, Ontario. Furthermore, the Case Study demonstrates a global increase in the cost of petroleum products, which is causing NorOnt Limited to face derived demand. As a result of the rising cost of shipping, the firm is striving to keep its prices reasonable. q3 . The Exec VP of Marketing, Asad Hossain at NorOnt must consider several environmental factors that impact its Human Resources Planning activities. Describe these environmental factors and explain their impact A: NorOnt Limited's human resources planning operations are impacted by a variety of environmental factors and explained below 1. The first aspect, within the past ten years, Canada's economic environment has undergone substantial upheaval. Low salaries and high unemployment rates are the outcomes of the manufacturing slump. People's financial well-being has been further impacted by inflation, which has outpaced pay growth. Instead of consuming as much produced food, consumers are leading healthier and more economical lives. The recruiting efforts of NorOnt Limited at our Toronto and Vancouver offices have been influenced by this shift in customer behavior. The difficulty in hiring skilled people stems from the high cost of living compared to real income. Second, these environmental elements affect the corporation's overall decline. 2. The second aspect is the close feud that NorOnt Limited faces, both locally and globally, especially in the European market. As the market developed, rivals broadened the range of products they offered to directly rival NorOnt's product line. This environmental concern led to a decline in NorOnt Limited's market share. Also, Social issues have led to a fall in NorOnt Limited's market share. Customers are becoming more picky about packaged and prepared foods as a result of their growing health concerns. Additionally, rather than buying prefabricated goods, customers are more inclined to prepare their meals at home since they are familiar with the ingredients. 3. The third aspect of human resource planning is social factors. As people become more health-conscious, pre-packaged and pre-cooked food consumption is declining. Considering they have more control over the ingredients they use, many prefer to cook at home. NorOnt Limited's market share suffered as a result of this social dimension.

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