The Distribution Of Wealth By John R. Commons

Human resource is an appellation used in referring to the workforce of an organization or company. Human resource management is involved in the act of putting together employees in an organized manner to assure the objectives of the organization are achieved in a competent and experienced manner. Human resources are the most important services of any organization since they are the catalysts of non-human resources and the medium for developing competitive advantages and sounds of creativity. No organization can exist without a human resources department (Walsh, 2009). A company without an HR department would be reducing its operations and could collapse within a short amount of time.

In William Domhoff’s article, Wealth, Income, and Power, he examines wealth distribution in the United States, specifically financial inequality. He concludes that the wealthiest 10% of the United States effectively owns America, and that this is due in large part to an increase in unequal distribution of wealth between 1983 and 2004. Domhoff also states that the unequal wealth distribution is due in large part to tax cuts for the wealthy and the defeat of labor unions. Most of Domhoff’s information is accurate and includes strong, valid arguments and statements. However, there is room for improvement when identifying the subject of what is causing the inequality.

Human resources involves workers who are in charge of the organization and responsible for implementing strategies and policies that relate to the management of individuals. It is a very important part of a company’s success and ultimately decides how much the company can grow and achieve (Vasquez, 2003). Human resource managers seek to achieve this success by arranging the supply

Everyone has his or her own ideas of how wealth should be distributed properly. Some people believe wealth should be left to family, left for public services, or become the property of others. Others believe that people should not have excess wealth, resulting in non-existent class distinctions. An alternative view is that wealth is not distributed; instead, the wealthy continue to grow wealthier while those in poverty can not escape it and fall further into a life of poverty. The beliefs discussed above come from three different writers. Those writers include Andrew Carnegie, Karl Marx, and Robert B. Reich. These writers all have different opinions on how wealth should be distributed properly.

Human Resource Management, was developed in the late 90’s, by R. Wayne Mondy and Judy Bandy Mondy. It was designed to help new students become familiar with human resource management, providing both realistic and practical scenarios of HR’s strategic role in planning and operating organizations. Through various examples from the research of company material, it demonstrates that all managers are necessarily involved with the human resources part of business, which is

Human capital includes the individual capacities, learning, abilities, and experience of the organization's representatives and administrators. This information is pertinent to the job needing to be done, and in addition the ability to add to this store of learning, aptitudes, and experience through learning. Human capital is the establishment of scholarly capital. Scholarly capital is created through pulling in, creating, and holding human capital.

Scott, Clothier and Spriegel (2002) have defined Human Resource Management as that branch of management that is responsible of operations which are mainly concerned with the relationship of management to employees and employees and to employees with development of the individual and the group. People are responsive, they think, feel and act moreover cannot be operated like machines. They therefore need a tactful handling by personnel management.

Human resource management has gained atmost importance in the past few years. Studies have found that there is a relationship between human resources of an organization and performance. From an era of slaves to an era of knowledge resources, People have been regarded differently throughout the years. People are now considered to be energy resources which are directly responsible for the effective working of the organization. An organization with good human resources and its effective management forms an effective organization.

Human resources Management is a distinctive approach to employment management which seeks to achieve competitive advantage trough the strategic deployment of a highly committed and capable workforce, using an integrate array of cultural, structural and personnel techniques.(Armstrong, 2009, p.5).

The key role of human resource is the management of the people in an organization. In other words, it is the selection of a right people for a right job at a right time and to make maximum use of employee’s talent and skills to profit an organization and economy as a whole.

Human resources and human capital are different. Human resources management is the function by which the human capital is guided and directed. As previously stated, human capital is made up of the knowledge and skills that people possess. When a company hires an employee they are essentially “leasing” the talent that the individual owns. The company does not own the employee, their skills or abilities. Human capital emphasizes valuing people that work for the companies as assets; employees that add to the value of the organization, and when efficiently managed contributes to the overall success of the company in terms of employee productivity and contribution. The role of human resources in valuing human capital is mainly to figure out ways to attract and recruit the best people, find ways to make them better at what they do and bring the best out of them.

The definition of human resources is: the personnel of a business or organization, regarded as a significant asset in terms of skills and abilities. The department of a business or organization that deals with the hiring, administration, and training of staff.

In around the mid-1970s Human Resource Manager were sometimes selected for the job because they had limited skills as an Operational Manager—they might have had less experience or been considered “a people person” rather than a “tough boss.” Human Resource Managers were only expected to be “paper pushers” who could keep all of the Personnel files straight. They maintained organizational records on the people who worked for

Human resources management applies to the employees in all type of organization in the world ( industry, trade, service, commerce, economic, social religious, political and government department). Thus it common in all type of organization.

Human resource management is an effective tool for the overall performance and survival of a business firm. Human resource is the only resource in an organization which is scarce and unstable. Human capital helps a firm to improve the performance of the firm’s assets and leads the entire firm towards attaining a sustainable competitive advantage. The human resource management function aims at increasing the skills, knowledge, abilities and experience of an employee.