Mba Meade Term Notes

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Week 1
What is human resource management?
As we said that HRM is the management of people working in an organization, it is a subject related to human.
For simplicity, we can say that it is the management of humans or people. HRM is a managerial function that tries to match an organization’s needs to the skills and abilities of its employees. Human Resource Management is responsible for how people are managed in the organizations. It is responsible for bringing people in organization helping them perform their work, compensating them for their work and solving problems that arise. Functions of HRM
Basic functions that all managers perform: planning, organizing, staffing, leading, and controlling. HR management involves the
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Cost of Human Resource
Human resource activities have become increasingly important because of the high cost of personal problem.
The largest single expense in most organizations is labor cost, which is often considerably higher than the necessary because of such problems as absenteeism tardiness and discrimination.

. What is Management?

Management is the process of working with different resources to accomplish organizational goals. Good managers do those things both effectively and efficiently. To be effective is to achieve organizational goals. To be efficient is to achieve goals with minimum waste of resources, that is, to make the best possible use of money, time, materials, and people.
Some managers fail on both criteria, or focus on one at the expense of another. The best managers maintain a clear focus on both effectiveness and efficiency

The Functions of Management a. Planning
Planning is specifying the goals to be achieved and deciding in advance the appropriate actions taken to achieve those goals. Planning activities include analyzing current situations, anticipating the future, determining objectives, deciding what types of activities the company will engage in, choosing corporate and business strategies, and determining the resources needed to achieve the organization 's goals. The outcome of the planning process is the organization’s strategy.

b. Organizing
Organizing is assembling and coordinating the

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