Judgmental Techniques
Subject: Entrepreneurship Development | Topics:

Judgmental Techniques which we can not describe in much more length and details and generally one or more persons are there for preparing Sales-forecasts.

There are three judgmental techniques for forecasting availabilities that enjoy widespread acceptance; executive reviews, succession planning, and vacancy analysis. In this context, the main difference between statistical and judgmental technique is that the former treat employees as numbers and forecast their movements based on probabilities. The latter treat them as individuals and forecast their movements person by person.

  • Executive Reviews : Executive reviews focus on small and unique groups of employees, most commonly top executives and other managers and professionals judged to have the potential to be top executives. Thus, executive reviews are a form of population-based HRP. The actual reviews are carried out through a series of meetings at which the top executives in a given unit consider anticipated HR requirements and then thoroughly discuss each person under review to determine who is likely to be, or should be, promoted, reassigned, developed for future assignments, or dismissed from the organization. Determinations are made based on judgments about performance, promotability, and potential, taking into account the long-term career interests of the employee being considered. The process produces a clear indication of where the organization can expect to have managerial shortages or surpluses. It also provides career and development plans for individuals.
  • Succession Planning : This planning is often an adjunct to executive reviews. It helps identify backup candidates who are, or soon will be, qualified to replace current executives or upper-level managers. Succession planning results are typically summarized on charts. These greatly facilitate the planning of likely retirements, terminations, promotions, and transfers within and across organizational units. These charts also show which managers are in need of future development to become ready to fill job(s) for which they are (or might be) considered as replacements.

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