Final answer:
A manager needing retraining in forecasting is an example of pinpointing problem areas of managers, not necessarily an economic downturn or a case for firing employees. During recessions, firms often hesitate to lay off workers due to the costs of replacing them. Retraining can help workers with outdated skills reenter the job market.
Step-by-step explanation:
If a manager is not very good at making estimates, they may need to be retrained in forecasting. This is an example of pinpointing problem areas of managers. This scenario does not typically illustrate an economic downturn or the necessity of getting rid of poor employees; instead, it suggests an opportunity for professional development.
During the onset of a recession, firms may realize demand for products or services is weaker than expected, prompting considerations of workforce reductions. However, the risk of losing experienced employees and the cost of recruiting and training new staff often deter such immediate actions. Firms are more likely to retain workers, resorting to layoffs only if the downturn persists and remaining tentative to hire until the economic recovery is assured.
As for workers with obsolete skills, policies providing retraining opportunities allow them to reenter the labor force, which is especially important in dynamic market economies where job displacement is common.