Summary Assignment Instructions Learning Activity 4.1: Reading & Key Terms Read Chapter 4 of the

Assignment Instructions Learning Activity 4.1: Reading & Key Terms Read Chapter 4 of the textbook. Once you have finished reading, go the exercises at the end of the chapter and define each term listed there in one or two sentences. Answer Key terms from Chapter 4 relate to HR planning and strategy: Labour Demand Forecasting: The process of estimating the number of employees required in the future based on organizational needs. Labour Supply Forecasting: The process of predicting the availability of workers from within and outside the organization. Gap Analysis: A comparison of labour demand and supply to identify surpluses or shortages of workers. Ratio Analysis: A quantitative method for predicting labour needs based on historical relationships between staffing levels and outputs. Markov Analysis: A statistical technique used to forecast internal labour supply by tracking m