StudyCase Week5
MGMT 303
November 26, 2014
Professor: Chikwe
Case Study Week 5 Spotting Talent
What does this case imply about the supply of and demand for employees and the implications for businesses?
By definition, “The law of supply and demand defines the effect that the availability of a particular product and the desire (or demand) for that product has on price. Generally, if there is a low supply and a high demand, the price will be high. In contrast, the greater the supply and the lower the demand, the lower the price will be.” (Investopedia, 2014). This case imply about the supply of and demand for employees and the implications for businesses because if the demand is increasing and the supply of candidate employees are limited then the search for talent is competitive and challenging.
What’s the meaning behind the “search for the purple squirrel” in relation to spotting talent? Is this relevant to non-tech companies, as well?
The meaning behind the “search for the purple squirrel” in relation to spotting talent is that in this competitive business world, there is no such thing as a perfect employee available or it does not even exist but that does not mean that they will stop looking for candidates. Companies will still have to search for employees who they think will pass the important requirements and who can help their business expand. This is relevant to non-tech companies and any other jobs out there. In every business, managers will have to go over the resumes of the people who apply and they will still have to pass the interview that the managers will perform.
For example, let’s say there are two candidates who applied as an sales associate in a retail store called Hollister, candidate #1 is someone who graduated from High School with a 2.8 GPA, a varsity in Volleyball and who has an experience with selling and customer service due to her previous jobs where she used to work at Forever21 and Macy’s. While candidate #2 is someone who had a GPA of 4.0 in High
November 26, 2014
Professor: Chikwe
Case Study Week 5 Spotting Talent
What does this case imply about the supply of and demand for employees and the implications for businesses?
By definition, “The law of supply and demand defines the effect that the availability of a particular product and the desire (or demand) for that product has on price. Generally, if there is a low supply and a high demand, the price will be high. In contrast, the greater the supply and the lower the demand, the lower the price will be.” (Investopedia, 2014). This case imply about the supply of and demand for employees and the implications for businesses because if the demand is increasing and the supply of candidate employees are limited then the search for talent is competitive and challenging.
What’s the meaning behind the “search for the purple squirrel” in relation to spotting talent? Is this relevant to non-tech companies, as well?
The meaning behind the “search for the purple squirrel” in relation to spotting talent is that in this competitive business world, there is no such thing as a perfect employee available or it does not even exist but that does not mean that they will stop looking for candidates. Companies will still have to search for employees who they think will pass the important requirements and who can help their business expand. This is relevant to non-tech companies and any other jobs out there. In every business, managers will have to go over the resumes of the people who apply and they will still have to pass the interview that the managers will perform.
For example, let’s say there are two candidates who applied as an sales associate in a retail store called Hollister, candidate #1 is someone who graduated from High School with a 2.8 GPA, a varsity in Volleyball and who has an experience with selling and customer service due to her previous jobs where she used to work at Forever21 and Macy’s. While candidate #2 is someone who had a GPA of 4.0 in High