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1. Part of forecasting a firm’s labor supply requires an understanding of current and future skill and competency trends in the labor market. Compare and contrast forecasting the internal labor market and the external labor market. Be certain to discuss key components used within each process. 200 words2. There are many external sources of information that firms can tap into to forecast the demand for their product. Discuss the five most common types of information that can be used to evaluate general business trends in the economy. Provide an example for each. 200 words3. Within staffing planning, there are three questions that need to be addressed. Identify and discuss each question and its components in detail. 200 words4. Discuss the workforce planning process. After discussing each step, explain what would happen if an organization did not follow the workforce planning process. Explain from the perspective of the employer and the employees. 200 wordsSingle space, references after each question, questions do not require essay style answering.

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