Business, 19.06.2020 19:57 live4dramaoy0yf9
McKinley, a large consulting firm in the UK, has a consulting staff consisting of 400 consultants at the rank of "associate." On average, a consultant remains at the associate level for 2 years. After this time, 30% of the consultants are promoted to the rank of "engagement manager"; the other 70% have to leave the company. In order to maintain the consulting staff at an average level of 400 associates, how many new consultants does McKinley have to hire each year at the associate level? (Hint: Apply Little's Law - identify Avg. Inventory, Flow Time - avg. time spend in system by an individual unit. Question asks for how many/yr?)
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