BUS201 FINAL

3. Is it better to hire from internal sources or external sources? Justify your

answer.

In recruiting, a set of activities is carried out in order to obtain the right number of qualified
people at the right time.
The term internal recruiting refers to a company or organization's intention to fill a vacancy
from within its current workforce. On the other hand, external recruitment means that an
organization searches for candidates outside the company to fill open positions.

Internal recruitment is carried out through internal sources such as, transfers, promotions,
recommendations, department reorganizations, etc. Employees that we already have can be
leveraged to save money and time. For existing employees, internal recruitment is a reward
and a way to promote loyalty and employee morale. It also saves time and money on training
because the internal candidate will already be familiar with the company's culture and
environment. Employee turnover is also reduced. When internal candidates are matched with
roles that match their personality and skills, they are more likely to stay with the company for
a longer period of time.

External recruitment is carried out through external sources such as advertisement, job fairs,
internet, college placements. In order to find the best workers with the best skills, we can
cast a wider net and recruit more people. Hiring people with new skills and ideas is more
difficult if we rely on internal hiring only. A new hire's knowledge of the company and its
culture is limited. When it comes to the company's culture, external recruits will have a
limited understanding. Recruiting from the outside also comes with a higher level of risk.
Employees who believe they are better qualified for the position are likely to have internal
disagreements with each other and with the employer.

Therefore, hiring from internal sources seems the most convenient for a firm.
4. You are the junior marketing executive of a local company primarily responsible
for conducting market surveys. How can Marketing Information System help you?

When it comes to solving business problems and challenges, Management Information

Systems (MIS) teaches us how management, organization and technology create information
systems. It is a multifunctional system that can handle data from a variety of sources,
including the Internet.

To keep internal teams informed and on task, a MIS can be utilized. Communication with an
external market research company can also be made more efficient and reliable. And because
the data is stored in the system, we can continue to use it in the future as we make strategic
decisions about the company's growth. Business efficiency increases with the number of
systems in place. It allows the marketing and sales teams (i.e., me) to make strategic,
profitable decisions by providing relevant information on a regular basis.
Information from syndicated and custom research reports can be gathered from secondary
research or new primary research and is integrated into the marketing management
information system. If the marketing research information is more specific and unique, it will
be more valuable to the company.

As a result of a market research survey aided by Marketing Information Systems, we can gain
a better understanding of the target market and make better decisions. This can include
anything from determining the optimal price for products to determining the potential market
size for the products.