2. Managerial Judgement
Broad in scope
process of managerial decision-making
manager's ability to use judgement to solve
problems.
using a structured decision-making process helps
managers maintain a balanced, fair and efficient
sense of judgement.
3. Technique
It Is A Common Technique Of Demand Forecasting.
There Are 3 Approaches Of Managerial Judgements.
5. Top-down Approach
Involvement of top management
information is supplied to various departmental
heads for their review and approval.
6. Participative Approach
A combination of both the bottom up and top down
approach
Under this approach, top management and
departmental heads meet and decide about the
future human resource requirement.
unanimous
7. Results Of Managerial Judgement
Simulated interaction is useful to predict the
decisions in conflict situations, such as in
negotiations.
In addition to seeking good feedback, forecasters
explicitly list all the things that might be wrong
about their forecast. This will produce better
calibrated prediction.
conclude on final numbers of manpower required.