Business in the 21st century is highly competitive. The rise of Internet has made the world more connected, allowing fast exchange of knowledge, making it easier for businesses to understand and enter new markets across the globe. The Internet has also provided a open-knowledge framework and creative landscape that have contributed to numerous significant technological breakthroughs in the recent years, making it extremely challenging to generate the next big idea in the marketplace. Thus, it has become essential for business leaders to build organisational capabilities that support the innovation, collaboration and continuous learning imperative for success in a complex, fast-changing world (Serino, 2013), that is to effectively leverage human resource as human capital. As stated by Bolton (1996):
Human capital is the knowledge, skills and capability of the work force. Don't think of people as a liability. They are the key to the future.
The skills and knowledge of people, add acumen and insight to other resourc...
... middle of paper ...
...n resource to be the most important asset of an organisation.
Becker, B., Huselid, M. & Ulrich, D. 2001, The link between people and strategy Companies often treat workers as a cost, rather than as a source of competitive advantage. Brian Becker, Mark Huselid and Dave Ulrich suggest a way of valuing the most important intangible asset, London (UK).
Bolton, N. 1996, "Your organization's most important asset", The Canadian Manager, vol. 21, no. 4, pp. 25-26.
Castaneda, D. & Toulson, P. 2012, "The Value of Human Resources in Intellectual Capital and Knowledge Management", Academic Conferences International Limited, Kidmore End, 10, pp. 52.
Serino, M. 2013. Making Human Capital the Creative Core of Strategic Execution. [e-book] New York: Cornell University ILR School. pp. 1-5. Available through: http://www.ilr.cornell.edu/hcd/ [Accessed: 15 Nov 2013].
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Armstrong (2006) defined Human Resource Management as a strategic deployment of an organisation's most valued assets; the people working there, who individually and collectively contribute to the achievements and the objectives of the business. Links between HRM and performance are predominantly focused on the following practices: sophisticated selection and recruitment methods, training, teamwork, performance-related pay and employment security (Wall, Wood, 2005). Products can be copied, methods of production can be changed and optimized, companies can move from one continent to the next trying to exploit geographical advantages however, the one inescapable truth is that a strong, talented... [tags: organisational performance, human resources,hrm]
1427 words (4.1 pages)
- Human resource is the most valuable asset of an organisation as it is the source of operational performance and competitive advantage in an organisation. An asset, by definition, is a useful or valuable thing or person. An organisation comprises of three types of assets, namely; financial assets, physical assets (infrastructure and equipment), intangible assets. Intangible assets include intellectual capital (patents, copyrights and trademarks), social capital and human capital. The creative thinking potential of an organisation’s current employees (Bolton, 1996), is the organisation’s most valuable asset, as people are the driving force within companies seeking to differentiate themselves i... [tags: Human Resources Department]
1176 words (3.4 pages)
- The Importance of Human Resource Management The tasks and departments associated with human resource departments as we now know today has existed long before being defined as such. There are many conflicting accounts of when human resources was allegedly developed. There are many instances in scripture which reflect our modern day definition of human resource management. When Jesus was selecting his disciples, he certainly understood the idea and need for human resource management. Jesus understood that he needed a team in order to accomplish the important work at hand.... [tags: Human resources, Employment]
1031 words (2.9 pages)
- Human resource management governs the most important asset of any organization: the employees. Human resources, or the employees of an organization, ‘both as labor and as a business function, has traditionally been viewed as a cost to be minimized and a potential source of efficiency gains’ (Becker and Gerhart, 1996, pp. 780). Organizations tend to overlook the fact that human resources is the backbone of any organization. Every one of us has our own personal skill sets, knowledge and experiences.... [tags: Performance Bonus, Communication]
1057 words (3 pages)
- Human resource management (HRM) is undoubtedly being considered as an indivisible element of the organisations from the outset. From recruitment to employee retention, HRM has always committed to assist company to search and retain talents that have values toward the sustainable development. In view of the fact that, there are several studies with evidences presented to prove that there is a relationship between HRM and organizational performance, in which some HRM theorists also suggested that there is a causal link between them (Cooke, 2000).... [tags: development, performance, training]
1293 words (3.7 pages)
- Q1. Human Resource Management Human Resource Management is a concept widely used in mostly every big small organisation. HRM is all about management and development of “People” of an organisation. It is related with selecting right people into the right job and their training and development. Human Resource Management (HRM) is the capacity inside of an association that concentrates on requirement, administration of, and giving proper trainings to the individuals who work in the organisations. HRM is the hierarchical function that is related with issues related with individuals, for example, pay, safety, good management or administration, organisation 's progress, wellbeing, health etc.... [tags: Human resource management, Human resources]
1728 words (4.9 pages)
- The occupation I have chosen is human resource management or HRM. This occupation has stood out to me ever since I’ve started business classes at the University of Southern Indiana. Going into business I didn’t know what to expect or what kind of business I would be interested in. I have talked and discussed this occupation with many peers, as well as, faculty to see what it has to offer. I am interested in many of the tasks and skills that are handled while doing this job. Being able to organize, communicate, and adapt to new situations have always been skills that I performed well.... [tags: Human resource management, Employment]
1140 words (3.3 pages)
- Day by day talent plays a vital role in the development of an organisation. It deals only with the high performing businesses; simply it is critical element of the organisation. Talent management is the key term for every company and it actually raises the concept for businesses. Using talent is the main strategy of the talent management. Talent management is actually managing the company in different situations with new ideas and improving the profits of that company. This can be done by motivating the workers and by creating a challenging environment in the company, this can be done only by the HR manager.... [tags: Human resource management, Management]
2651 words (7.6 pages)
- Education for Ethics and Human Resource Management Introduction In this research paper, it is suggested that two or three ethic courses should be given to some graduate or postgraduate students to implement it in works areas related to human resource management (HRM). HRM and ethics are very related to each other that can be given them to aimed, the firstly, if any situation happens in future about the ethical issues how he/he can deal it and the secondly to show the generalist public admin students is they involve to any issues to solve themselves.... [tags: Human resource management, Human resources]
1190 words (3.4 pages)
- I. Introduction Human Resource Management is defined as the process of managing human talent to achieve an organization’s objectives (Bohlander & Snell, 2010). A more detailed definition is given by the Society for Human Resource Management which states that “human resource management is the function within an organization that focuses on recruiting, managing, and providing direction for the people who work in the organization” (Schmidt, 2011). The role that human resource management plays is the most vital in all business organizations.... [tags: Human Resource Management ]
1335 words (3.8 pages)