Knowledge in Human Resources

Decision Tree Model

Decision tree analysis involves making a tree-shaped diagram to chart out a course of action or a statistical probability analysis. It is used to break down complex problems or branches. Each branch of the decision tree could be a possible outcome. The tree structure in the decision model helps in drawing a conclusion for any problem which is more complex in nature. The model is used not just in corporate finance, but in philosophy, economic forecasting as well. Under the decision tree model, an individual has to come to a conclusion about investing in a particular project or not. The management often use these models because they lay out the information in a graphical way with possible probabilities attached to the final outcome. Let's understand how the whole framework is laid out. Start with your decision by putting it in a small square on the left-hand side of the page and then draw conclusions towards the right-hand side. Draw a line for each possible option and the decision is to be written in a square. However, if you are not sure, draw a circle. Circles are described as uncertainties. The review of each circle is very important and a percentage is given to each outcome which should add up to 100 per cent.The evaluation of the outcome is very important to make a decision. Assign estimated numeric value for each outcome which will help you in taking the right decision.The benefit of a decision tree is that it lists out all the possible outcomes and the revenue or loss attached to each. Information available can then be used by the management of the company to make an informative decision about the project or the investment they are planning to make. The tree structure in the decision model helps in drawing a conclusion for any problem which is more complex in nature. The model is used not just in corporate finance, but in philosophy, economic forecasting as well.Under the decision tree model, an individual has to come to a conclusion about investing in a particular project or not. The management often use these models because they lay out the information in a graphical way with possible probabilities attached to the final outcome. Let's understand how the whole framework is laid out. Start with your decision by putting it in a small square on the left-hand side of the page and then draw conclusions towards the right-hand side. Draw a line for each possible option and the decision is to be written in a square. However, if you are not sure, draw a circle. Circles are described as uncertainties. The review of each circle is very important and a percentage is given to each outcome which should add up to 100 per cent. Evaluation of the outcome is very important to make a decision. Assign estimated numeric value for each outcome which will help you in taking the right decision.The benefit of a decision tree is that it lists out all the possible outcomes and the revenue or loss attached to each. Information available can then be used by the management of the company to make an informative decision about the project or the investment they are planning to make.

Cyclical Unemployment

Cyclical unemployment is a type of unemployment which is related to the cyclical trends in the industry or the business cycle. If an economy is doing good, cyclical unemployment will be at its lowest, and will be the highest if the economy growth starts to falter. Cyclical unemployment relates to the business cycle in an industry. It is a direct result of fall in demand from consumers leading ot a slump in demand for labour. If cyclical unemployment is rising, it also means that the economy is showing signs of slowdown which is not good. The lack of demand means that there is not enough consumption. The government would then need to address the issue by various fiscal and monetary policies to support economy. Cyclical unemployment is one of the five unemployment types which are recognized by economists. Apart from cyclical unemployment, there are structural, and frictional types of unemployment. Cyclical unemployment is directly related to the macro-economic situation in the economy. It would rise at a time of recession, while reduce when the economy starts recovering. The economic activity tends to move up and down and cannot be classified as linear.When the economy slows down, it will reduce the overall demand, reduce consumption, and that would lead to production cuts in various industries. We have seen that the auto sector resorted to production cuts at a time when the demand for cars were slowing due to higher fuel prices and economic slowdown.When the company is not getting enough demand, it curtails production and in the process it has to let go of lot of people which leads to cyclical unemployment. It could happen in any industry.

HRM PRACTICE IN SPENCER

COMPLETE REPORT ON HRM AND ITS FUNCTION IN SPENCER LUCKNOW

PERFORMANCE MANAGEMENT IN HRM

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controlling

controlling fundamentals in human resource behaviour

Gender Intelligence

First Assignment

Hindalco

Hindalco assignment

consumer protection act

This report will give you an overall picture of the consumer protection act will enhance the overall legal learning

change management

Change management is a part of organizational behavior and it gives an overall idea of the management involved in the organization if it is going through a change.

Renewable Energy Resources

Slides on the topic Renewable Energy Sources.

Human values and professional ethics

These are the basic modules on human values and professional ethics built by experienced faculty. The content in the artucles are in student friendly way and easily understandable. It consists of 4 modules . The four modules are very much needed for every graduate. These human values and professional ethics are very much important in everyone's life.