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What are the Four types of resources a firm has?
- of these four, the humans cause the other resources to achieve the objectives of
- the firm.
The achievement of the firm’s objectives will be guaranteed if the humans present
fulfill the following conditions;-
2.Have relevant competencies
3. Staff correctly deployed;
- 4. Motivation
- correctly addressed;
- 5. Compensation
- adequately addressed;
- 6. Staff
- capacity continuously improved and
- 7. Performance
- correctly managed.
What are Responsibilities of Human
- 1.Human Resource Planning to ensure optimal number and relevant competencies
- 2.Recruitment to fill vacancies;
- 3.Deployment to ensure staff do what is suitable for them;
- 4.Motivation to ensure optimal performance;
- 5.Compensation to ensure equittable pay for all staff;
6.Staff development to ensure continuous improvement
- 7.Performance correctly managed to ensure
- efficiency and productivity
What is Human resource Management?
Human Resource Management is the function that deals with staff issues such as
What are the Functions of Human Resource Management?
There are two broad categories of functions of HRM namely;-
1. Managerial functions
2. Operative functions
What are Functions required of any manager
- 1. Planning:
- Determining the firm’s goals and formulating policies and strategies of
- achieving them. For HRM planning is
- referred to as Manpower Planning.
- Organising is the process of allocating specific roles to specific positions.
- Includes organization chart.
- This is the process ensuring group or individuals efforts are geared towards
- the desired goals. Includes issuing directives.
- 4. Controlling:
- Setting performance standards and monitoring to ensure they are met and taking action incase they met.
What are the Operative Functions in Human Resource Management?
- These are human resource–specific functions
- which include:
- this is recruitment and
- selection and includes manpower planning, job analysis, recruitment, selection,
- induction and placement.
- Strategies to ensure that
- the knowledge, skills of the staff are continuously improved.
- this involves determination of salary and
- wage levels to ensure equity and competitiveness of the firm in the job market.
- this is protecting and promoting employees
- while at work by availing benefits e.g. medical insurance, housing, education,
- transport, social securities, pensions etc.
What is Strategic Management?
Strategic Management is It is the process of
- -developing policies and plans to
- achieve these objectives,and
resources to implement
the policies and plans to achieve
the organization's objectives.
What are the Two Phases in Strategic Management
- 1. Strategy formulation
- This is decision about the vision and mission of the firm, long and short term
- objectives and selecting the strategies and activities to be implemented to
- achieve these objectives.
- 2. Strategy implementation
- involves using the firms resources,
- structures, systems, processes to implement the strategies. It involves
- providing leadership and monitoring the effectiveness of the strategies
What is Strategic Human Resource Management (SHRM)?
- Is the conscious application of human resource functions inorder to to
- achievement of the organizational goals. A deliberate move by the HR Department
- to ensure that all its activities lead to the achievement of organizational