Explain the role of HR and the link to business management in differing types of organisations
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All organizations rely on a range of resources and capabilities in order to successfully function and achieve their objectives. Whether it is access to capital to finance operations, access to raw materials and equipment to manufacture/deliver a product/service, or a distribution network from where they can publicize or sell their goods and services, access to various resources and capabilities is at the very core of the competitive market economy. In competitive market economies, human resources play a key role in the provision of competent know-how, ideas, and manpower to organizations. The effectiveness and efficiency with which an organization manages its relationships with not just its human resource but all its resources such as finance, raw materials etc, goes a long way in determining its success in a competitive market economy (Torrington et al., 2017). This essay examines the role of HR when it comes to business management while identifying some of the macro-environmental factors that impact this role. By the end of the assignment, you will understand how macro factors such as the government, economy, globalization, and demographic and technological changes impact the role of HR in organizations.
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HRM 601 Final Exam: Past Exam Question & Answer
Explain the role of HR and the link to business management (management activity) in differing types of organization/sectors. You should include the following major factors and their impact on the role of HR:
- The economic situation
- Demographic and technological changes
- Globalisation and the international issues currently being faced
- The impact of government (10 marks; 500 words)
Key Learning Outcomes
By the end of this assignment, students should be able to:
- Understand the 5 roles of Human Resource Management in organizations.
- Understand the impact of macro-environmental factors on the role of HR including. By the end of the assignment, you should understand how macro-environmental factors such as the government, economy, globalization, and demographic as well as technological changes impact the role of HR in organizations.
- Link HRM theory to organizational management practice
INTRODUCTION
Human Resources Management has generally been defined as a set of management practices concerned with workforces in organizations. On the other hand, it has been defined to mean people-centric operational practices in organizations (Torrington et al, 2017). This essay examines the role of Human Resources when it comes to business management while identifying some of the macro-environmental factors that impact this role. By the end of the assignment, you will understand how macro factors such as the government, economy, globalization, and demographic and technological changes impact the role of HR in organizations.
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