You often see phrases like these in the annual reports of major businesses:
You see them so often that it is tempting to treat them as clichés. However, behind the cliché lies an important truth, which is that the human element plays a major part in the success of every business.
Effective human resource management has become more important in recent times. Here are some reasons why:
As a result, if a business is to be successful and achieve its objectives, then it needs to manage its human resources effectively. So step forward "human resource management"!
Human resource management is usually shortened to "HRM". It is defined by the CIPD as:
"The design, implementation and maintenance of strategies to manage people for optimum business performance"
In other words, HRM is about how people are managed by a business in order to meet the strategic objectives of the business. The functional objectives set for HRM need to be consistent with the corporate objectives.
The key is to remember that HRM is a strategic approach. HRM uses a variety of tools to help meet the strategic needs of the business, each of which needs together in an integrated way. The key tools are:
Join the tutor2u Business team for a resource-packed day designed to fast-track your lesson planning and preparation for the new Edexcel A Level Business specification. We'll look at the key changes in teaching content, explore the new challenges of teaching this linear specification and dive into some brand new teaching resources designed specifically for the new Edexcel A Level Business course from September 2015.
Exemplar A grade worked answers to recent AQA GCSE Business Studies Unit 2 exam papers with examiner commentary on how to score top marks
This resource comprises two practice exam papers (with supporting mark schemes) for each of the two Year 1 (AS) papers. The format of each practice exam paper follows precisely the format of the specimen assessment materials issued by the board that have been accredited by Ofqual.