...CONCEPT OF HUMAN RESOURCE MANAGEMENT – MBA MENTOR Human resource management means management of people at work. HRM is the process which binds people with organizations and helps both people and organization to achieve each others goal. Various policies, processes and practices are designed to help both employees and organization’s to achieve their goal. Human resource management is branch of management that deals with people at work, it is concerned with the human dimensions of management of the organization. As organization consists of people, therefore acquiring them, developing their skills, providing them motivation in order to attain higher goal and ensuring that the level of commitment is maintained are the important activities. Human resource constitutes of all the management decisions responsible for relationship between organization and employees. HRM is the field of management which plans, organizes, controls the functions of procurement, development, maintenance and utilization of the work force so that. 1. Organization goals can be accomplished. 2. Objectives of human resources can be accomplished 3. Objectives of society can be accomplished. According to Flippo, Human Resource Management is: "The planning, organizing, directing and controlling of the procurement, development, compensation, integration, maintenance and reproduction of human resources to the end that individual, organizational and societal objectives are accomplished" Human resource...
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...Abstract The Concept of Strategic Human Resource Management has a widely use but very arrangement of definition. Research has present reasons that if the concept is to have any social systematic value, it should be defined in a way as to characterize it from traditional personnel management, and to allow the development of testable interpretation about its impact. Concept of Strategic Human Resource Management Thought out the research many definitions arose, strategy provides a great structure to support within which is set out what the company is considerate to do about managing people in general or in ordinary areas of human resource management. The strategic is the intention and plan to use human resources to achieve company goals, and it is part of a strategic human resource management process that leads to the development of overall specific performance by human resources management. It depends highly on the viewpoint being taken by human resource management. It can be express as traditional personnel management, as a mixture of personnel management and industrial relations, and as part of strategic, managerial role. Research has demonstrated the benefits of bringing human resource management and knowledge and experience of management. That will reinforces the support and enhance organizational effectiveness of performance. “A typical handbook usually defines human resource management as the management of the company’s employees” ( Scarpello and Ledvinka, 1988, p...
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...ADMINSTRATION MODULE NAME: HUMAN RESOURCES MANAGEMENT 1. Explain the concept of human resources management and discuss the role of human resources management function in an organisation. According to Bratton and Gold (1999:11) Human resources management is described as the process that specialises in the management of people in work organisations. Human resources management emphasis that employees are critical in achieving sustainable competitive advantage, that human resources practices need to be integrated with the corporate strategy. Human resources specialist helps organisational controllers to meet both the efficiency and equity strategic objective. Human resources management seeks to achieve two sets of objectives which are to improve employee’s performance and enhance organisational efficiency. The major role of human resources management in an organisation is the hiring and firing of employees which involves attracting the best employees on the market, keeping them in their positions and ensuring that they perform according to the organisational expectation and enhance overall strategic goals of the organisation. Recruitment of employees is the major role performed by the human resources department. This ensures that the organisation selects the most skilful and competent people. This role involves evaluation of the ability and competence of potential employees in relation to the goal of the organisation. Human resources Management is an approach...
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...Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol.4, No.18, 2013 www.iiste.org Problem with Human Resource Accounting and A Possible Solution Md. Mustafizur Rahaman1* Md. Amzad Hossain2 Tabassum Akter3 1. Lecturer, Department of Accounting, Bangladesh University of Business & Technology (BUBT), Mirpur-2, Dhaka-1216, Bangladesh 2. Lecturer, Department of Business Administration, East West University, Plot No-A/2, Jahurul Islam City, Aftabnagar Main Rd, Dhaka 1219, Bangladesh 3. Lecturer, Department of Business Administration, Prime University, Dar-Us-Salam Rd, Dhaka 1216, Bangladesh * E-mail of the corresponding author: mustafizmamun09@gmail.com Abstract The idea of Human Resource Accounting (HRA) has been a debatable issue by academicians, accountants and standards setters universally. This study critically assesses the concept of HRA in order to unveil its strengths and weaknesses. Descriptive and content analyses were used in collecting data through documented texts, journal articles and other publications. The existing models proffered under the HRA were adequately reviewed and objectively criticized so that more comprehensive could be developed. The study revealed that the conceptualization of HRA, the ideas incorporated therein, and arguments are good for the accounting profession and corporate financial reporting. But the existing models yet proposed are not in a state to implement HRA practice worldwide. Hence this paper proposes...
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...Human resource accounting Human Resource Accounting is a method to measure the effectiveness of personnel management activities and the use of people in an organization. Historical cost approach This approach is developed by Brummet, Flamholtz and Pyle but the first attempt towards employee valuation made by R. G. Barry Corporation of Columbus, Ohio in the year 1967. This method measures the organization’s investment in employees using the five parameters: recruiting, acquisition; formal training and, familiarization; informal training, Informal familiarization; experience; and development. The costs were amortized over the expected working lives of individuals and unamortized costs (for example, when an individual left the firm) were written off. Limitations * The valuation method is based on false assumption that the dollar is stable. * Since the assets cannot be sold there is no independent check of valuation. * This method measures only the costs to the organization but ignores completely any measure of the value of the employee to the organization (Cascio 3). Replacement Cost approach This approach measures the cost of replacing an employee. According to Likert (1985) replacement cost include recruitment, selection, compensation, and training cost (including the income foregone during the training period). The data derived from this method could be useful in deciding whether to dismiss or replace the staff. Limitations * Substitution of replacement...
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...Unit 2: Case Analysis Infosys GB520 Strategic Human Resource Management July 25, 2010 Infosys: The large small company The brainchild of Narayana Murthy, Infosys is an IT and software company with its base in Bangalore. The company was built around the concept of creating the products in India, with low production costs, and would be used for projects which international Infosys branches will handle. Infosys pioneered this concept using Global Delivery Model. At the heart of this company, was Murthy’s belief in people. What made this company truly stand out was its remarkable human aspect. During its rocky beginning stages, at the point where sell out seemed the only option, Murthy held onto the belief that with the right confidence and will, the company will succeed. The company did succeed and continued its belief that people, not objects nor environment alone, create things and success, through its strong Human Resources. In fact until 2003, the company was listed amongst the “Best Employer” or “Employer of Choice”. The approach of the company was three-fold: “There are three ways in which we add value to the employee: learning value-add through training, emotional value-add through the work environment, and financial-add through compensation and benefits.” (Delong, 2006) Transition into a small large company: Maintaining a strong human resource department and creating the best environment for employees is a challenge when the company is small. A growing...
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...ROLE OF HUMAN RESOURCE (HR) FOR CORPORATE SOCIAL RESPONSIBILITY (CSR). Ms. Suhas Diwate Suhas_diwate7@rediffmail.com Name of Author/Co-Author: Suhas B. Diwate Institutional Affiliations: Asst. Professor (HRM- Department of Management Studies), Bapurao Deshmukh College of Engineering, Sewagram Correspondence Address: Suhas B. Diwate C/o B.M. Diwate, Gajanan Nagar. Near Z.P. Colony. Wardha-442001 ( Maharashtra) Contact Details: • E-mail ID- suhas_diwate7@rediffmail.com • Mob: +91 8087293033 • Fax No: NA Title of paper: “ Role of HR for CSR” ABSTRACT: Concept of CSR A Business Unit is in society, within which it operates. This speaks of a number of stakeholders to which the organization has a responsibility. The social responsibility of business encompasses the economic, legal, ethical and discretionary expectations of that society have of organizations at a given point in time. The Concept of CSR originated in the 1950s in USA. CSR became a matter of utmost importance of diverse groups demanding change in business. It is a voluntary assumption of responsibilities that go beyond the economic and legal responsibilities of corporations. Corporate Social Responsibility (CSR) covers all aspects of an organization’s operation, inter-alia the relations with stakeholders including the employees as one of them. Business cannot exist in isolation. They need the infrastructure...
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...HR: Obstacle Or Champion? When we look at Globalization from a Human Resources Manager’s viewpoint we encounter many different interpretations and meanings. The world is growing “smaller” day by day and people are being brought together through technology. This growing concept of “globalization” that we see on the planet presents us with both challenges and benefits as a human race that we must learn to master. Human resources management is one of the key warriors that stands in the path for conquering and mastering globalization. Human Resources has championed Globalization in many different ways, we have seen great change implemented throughout organizations. Human Resources has done a great job with building talented employees’ “Global Mindsets” for the last few years, implementing Ex-pat programs and dealing with global mobility issues of senior managers has allowed for great development within organizations. We have also seen the Human Resources function in an organization develop a de-centralized approach to attacking the globalization concept. Recently more and more companies are allowing branches in foreign countries have more freedom in adjusting to local responsiveness. If we look at McDonalds for example, the firm has done a great job in understanding the local cultures of new markets they have moved into. In some parts of Europe McDonalds has been known as a bit more upscale/mid-range restaurant in order to adapt to cultural lifestyles of Europeans. Companies...
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...Human Resource Information system Technology! We have seen technology transforming the way of living in different ways. Since many decades technology has also changed the way of performing business activities in different streams like marketing, operations, finance and systems. Now it is the turn of Human Resource department to adopt the new technologies which are emerging in the market. Till now the HR activities have been done using traditional methods in which there has been a major concern regarding the safety and backup of the details and database of employees. Today, companies are adopting new technologies Human resource functions which is termed as Human Resource Information system. Technology is the underlying foundation under which the new HR processes will operate. The main objectives of Human Resource Information Systems are: Strategic Alignment- to help users in a way that supports the goals of the business. Business Intelligence – to provide the user with relevant information and data, answer questions and inspire new insights and learning. Efficiency and Effectiveness- to change the work performed by the Human Resources personnel by dramatically improving their level of service, allowing more time for work of higher value and reducing their costs. The concept of Employee Self Service has become the goal of most Web based Human Resource System. The Web based Human Resource provides all the employees with the option of editing their personal details...
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...Globe University/Minnesota School of Business Masters Business Administration MG545, Human Capital Instructor: Holly Tapper, J.D., M.B.A October 13, 2012 Introduction The article, “The new metrics: how to develop your own workforce scorecard” clearly identifies an organizations need for a workforce scorecard. The article itemizes the process to create a workforce scorecard which is the measurement of intangible assets, specifically, human capital within an organization. The author was clear and concise in the presentation of the related concepts. Managerial Style of the Author My impression of the author’s presentation throughout the article was that he was easily understood. The author was very clear in introducing the reasons for the needs of scorecards. The author began the article by identifying the key reasons that scorecards are needed within an organization. He explained that scorecards contribute to the accuracy of a company’s Human Resource operational and cost efficient matters. The author goes on to clarify HR metrics and its importance on the execution of a business’s strategic goals as well as the CEO’s decision making. Strengths Throughout the article the author was clear. I felt that the author’s main strength was the way that he organized the article. The brief explanation of what a scorecard is and its functions gives the reader insight on the entire HR concept. He follows the explanation with a sample of an employee scorecard. I felt that this put...
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...Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol.4, No.18, 2013 www.iiste.org Problem with Human Resource Accounting and A Possible Solution Md. Mustafizur Rahaman1* Md. Amzad Hossain2 Tabassum Akter3 1. Lecturer, Department of Accounting, Bangladesh University of Business & Technology (BUBT), Mirpur-2, Dhaka-1216, Bangladesh 2. Lecturer, Department of Business Administration, East West University, Plot No-A/2, Jahurul Islam City, Aftabnagar Main Rd, Dhaka 1219, Bangladesh 3. Lecturer, Department of Business Administration, Prime University, Dar-Us-Salam Rd, Dhaka 1216, Bangladesh * E-mail of the corresponding author: mustafizmamun09@gmail.com Abstract The idea of Human Resource Accounting (HRA) has been a debatable issue by academicians, accountants and standards setters universally. This study critically assesses the concept of HRA in order to unveil its strengths and weaknesses. Descriptive and content analyses were used in collecting data through documented texts, journal articles and other publications. The existing models proffered under the HRA were adequately reviewed and objectively criticized so that more comprehensive could be developed. The study revealed that the conceptualization of HRA, the ideas incorporated therein, and arguments are good for the accounting profession and corporate financial reporting. But the existing models yet proposed are not in a state to implement HRA practice worldwide. Hence this paper proposes...
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...containers, automotive parts, aircraft related parts, and appliance related parts (Riordan Manufacturing, n.d.). The company's revenue exceeded $1 billion and is a Fortune 1000 enterprise (Riordan Manufacturing, n.d.). Due to current declines in sales and "uneven profits", Riordan embraced changes that included adopting a customer-relationship management system and a Six Sigma quality approach (Riordan Manufacturing, n.d.). While these changes were developed to combat the developing issues with the business end of the company vision and needs, it unfortunately brought about decreases in production and employee satisfaction. In order to combat the issues related to the necessary changes in company practices, Riordan Manufacturing must build human resource planning that address the needs of the employees and brings them on board with the goals and needs of the company. In order to better understand the issues and opportunities facing...
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...the fields of automotive, aircraft, appliance, and beverage makers and bottlers in addition to supplying products to the Department of Defense. Purpose System Request 004 has been requested by Hugh McCauley, Riordan Manufacturing’s Chief Operating Officer. The purpose of this request is to satisfy the organizational need to streamline the Human Resources Department’s functions. Riordan’s goal is to take advantage of more sophisticated information technology to compile multiple functions and plant location information into one Human Resources system. In order to successfully develop this system, one must define the business requirements for the development of the system, create a detailed project plan that provides a list of all the tasks, resources, schedule and ensure that the project can be completed by the scheduled deadline - in approximately six months, so the new system can be utilized in the second quarter of next year. Successful Information Gathering Generally, the elicitation process begins with the analyst having no knowledge of the topic. Business objectives, problems, strategies and product concepts assist in forming system requirements. During the planning process key stakeholders are determined and brainstorming sessions are held to collect data. The information gathered in these sessions must...
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...HRM822 Assignment 1 The Environment, Labour Demand and Supply, Downsizing 4/6/2014 Coretta Jacobs Student number 1. Define and explain the significance of the term ‘derived demand’ as it applies to Strategic Human Resources Planning. Derived demand is the demand for a product/services occurs as a result of a demand for another immediate good or service. When apply this concept on labour demand, the more a company's product or service the market wants, the higher the demand for labour to involve in the production process. The essence of strategic human resources planning is to align human resources planning organization's business strategy. This means company cannot perform their personnel forecast solely based on the product demand because there is some other factor that will affect the product demand. Thus, company need to have a thorough analysis of the external environment and examine potential factor that will affect the overall demand of product/service, then examine how these factors will affect the overall big picture. HR professionals will then be required to view how these factors will affect the business objectives in terms of operations and tried to look for different flexible interventions in order to support the corporate values. Derived demand is defined as a requirement for one product that is created due to the purchase of another product. It occurs for consumers who purchase goods for further production, because...
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...The organization represent both Internal and external perspectives of two theories of how organizational behavior can be viewed by companies. It is also can be viewed from a combination and the subset from the business nature which is what is given when a person employed to a company, overlapping on the corporate culture which have to be learned by the employee of the company. It consists of four level of operation in the nature of human being; the physical part – as it is being one main reason to survive, the affective part – the attribute is to love, the mental part – which is the vision and the objectives and the immaterial – of how the company transcend on the...
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