Page 24 - DMGT406_HUMAN_RESOURCE_MANAGEMENT

Unit 1: Understanding the Nature and Scope of Human Resource Management

1.10 Keywords Notes

Competitive Advantage: It is an ability of an organization to perform activities exceptionally
well (availing profitable opportunities and thereby maximizing returns on investment) and
gaining an edge over rivals when competing.
HRM: A process of bringing people and organisations together so that the goals of each one is
met, effectively and efficiently.
HRM Policies: A set of proposals and actions that act as a reference point for managers in their
dealings with employees.
Line Managers: They are authorized to direct the work of subordinates-they're always someone's
boss.

Management: The process of efficiently achieving the objectives of the organisation with and
through people.
Personnel Management: It is that part of management which is concerned with people at work
and with the relationships within an enterprise. It applies not only to industry and commerce
but to all fields of employment.
Principles: The word principle means, the fundamental truth or law as basis of reasoning or
actions.
Productivity: The ratio of an organization's outputs to its inputs.
Staff Managers: They are authorized to assist and advise line managers in accomplishing these
basic goals.
Strategic Human Resource Management: The linking of HRM with strategic goals and objectives
in order to improve business performance and develop organizational cultures that foster
innovation and flexibility

1.11 Review Questions

1. Define the term HRM. Discuss its objective, nature and scope.
2. In this era of free economy, what should be the objectives of HRM?
3. Are people always an organisations most valuable assets? Why or why not?
4. Identify the typical features of human resource management in today’s competitive world.
5. What are the different types of HRM policies?

6. In your opinion, whether increase in global workforce affect the formulation of HRM
policies?
7. What are the different fields do you think are related with HRM policies?

8. Critically evaluate HRM as a disciplinary study.
9. What do you think is the biggest challenge in front of an HR manager and why?
10. HRM is an interdisciplinary activity. Discuss with examples.

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