Current Trends in HRM - questions for MPM - What is versatility and why is it important?

Dear Friends, I am pursuing MPM - Sem 4. Can you please help me with the following questions:
1. What is versatility and why is it important?
2. Professional Approach - Discuss
3. What are different reasons implementing VRS?
4. How will you retain intellectual labour?
Short notes
1. Balanced Score Card.
2. Transfer
3. Interview Techniques
4. Consolidated Salary.
I tried searching for the answers on the net, but couldn't find good answers. Can you please help. I need to study these questions for exam.

Dear Kanchan,
Rather than seek good answers from us; please draft your responses from the works that you have accessed and then we can help you to improve upon that. For example, to your question on the Importance of versatility, please see http://www.google.co.uk/#hl=en&xhr=t...f99d2472df77d5 and draft your response. I found two very interesting prespectives on versatility there at <link no longer exists - removed> and http://www.diplomatojob.com/batter-u...vel-workplace/.
Have a nice day.
Simhan
A retired academic in the UK

Dear Simhan,
Thanks a lot for your response and the links to the articles.
I am expected to get information about versatility from HRM point of view. My lecturer had given following points:
Versatility is important in today's world because:
The employees overlearn
The structure of the organizations provide very limited scope for promotions and hence we find that many people remain in the same jobs for many years.
The employees refuse to change which is why the organizations too do not progress.
to make more talent available to the organizations etc.
It will be a great help if you could suggest any such points that will help me to write answers in different way, to get score good marks.
regards,
Kanchan