Source - Entrepreneur magazine - August, 2020 ‘A recent survey conducted jointly by FICCI and Indian Angel Network revealed that 70 percent of

Question

Source based question 

Source - Entrepreneur magazine - August, 2020 

‘A recent survey conducted jointly by FICCI and Indian Angel Network revealed that 70 percent of startups across the country have been impacted by COVID-19 while as many as 12 per cent have had to halt operations altogether. 

These are difficult times that no one was prepared to deal with. The prolonged lockdown had a massive impact on the startup ecosystem. Given that they rely largely on a constant flow of capital and investments, which due to the pandemic came to a complete standstill. 

With the ongoing crisis, to keep startups afloat has become quite a challenge. However, this challenge can be eliminated if entrepreneurs adapt to the current times, adopt new strategies, and are open to experiments and pivot their business plans. That’s because the pandemic has not only affected our present but also our future.’ 

Keeping in mind this article, state any two things which should be written by startup companies in their manpower planning component of business plan?

Answer 1

Manpower planning helps in assessing: 

a. what kind of people are required- Every organisation needs the right person with the right qualifications, skills, experience and aptitude to work. So, the organisation should be clear to know as to what kind of personnel is required as per the nature of business activity 

b. How many people are required- They should also estimate the number of personnel required keeping in mind the total work and survival in the present situation and planning for future growth. 

c. How to procure personnel - The next step is to recruit, select and train the right personnel.