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Opening Case The Forecast Calls for Change GM between 2004 and 2008, racking up more than $80 billion in losses Co-effort from the car making industry, as well as the government to help President Obama’s Automotive Task Force rejected GM’s forecasts and plans for the future Opening Case GM failed to accurately forecast how increased life spans would affect the generous pension plans that it was contractually obligated to pay How rising oil prices and environmental concerns would effect the demand for gas-guzzling trucks, SUVs, and Hummers GM would wind up having a much larger surplus of labor relative to what it projected Opening Case The company’s plan for what to do with this excess amount of labor was to dump these workers into the infamous JOBS bank that paid laid-off workers for not working at all The task force concluded that GM was going to have to make more painful cuts and layoffs Opening Case First layoff-CEO Rick Wagoner, incurring a severance package of $20 million for his effort Fritz Henderson, an insider was chosen, because only an insider would have the depth of knowledge to revise the forecasts and plans given the short time frame required for the turnaround. Practical Session A Video How to Prepare for your Career from H Some Tips on Cover Letter Writing 1. Be short and to the point: a covering letter should include not more than one page 2. State what interests you most about the job 3. Make it relevant to individual cases 4. Express information source and enthusiasm 5. Sell yourself on the most attractive point 6. Highlight your qualities and achievements 7. Be warm and professional 8. Close the letter with positive comments Assignment Questions Practice Questions Discussion Questions: 1,2,4,5 Multimedia Lecture Support Package to Accompany Basic Marketing Lecture Script 6-* Downsizing – the planned elimination of large numbers of personnel designed to enhance organizational competitiveness.. The four major reasons that organizations downs
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