This document provides an overview of personnel management and related topics for business students. It defines personnel management and discusses its nature and objectives. It describes the roles of the personnel manager and outlines key functions of personnel management like manpower planning, recruitment, selection, and training. It also briefly covers topics like marketing management, market segmentation, market research, and financial management.
Human resource management systems operate throughout an employee's tenure with a company, from recruitment and selection through employment management including rewards, appraisals, industrial relations, and termination of employment through retirement, resignation, redundancy, or dismissal. The role of the human resources professional has evolved from administrative personnel functions to strategic partner, employee advocate, change champion, coach, and training and development specialist in order to support organizational strategy, create an environment where employees can succeed and contribute, enable successful change initiatives, provide feedback to managers, and develop employee skills.
This document discusses forecasting human resource (HR) supply and demand. It defines HR forecasting as projecting future organizational HR needs and how those needs will be met. Without forecasting, an organization cannot assess differences between supply and demand. The document outlines factors and methods for forecasting internal and external HR supply, such as trend analysis and competency models. It also discusses factors that influence HR demand forecasting, like employment trends and productivity. Methods for forecasting HR demand include managerial judgment, work-study techniques, and econometrics models.
Human resource planning helps organizations in several key ways:
1) It ensures that organizations have the right number and type of employees with the necessary skills, knowledge, and experience to meet their operational needs.
2) It helps offset uncertainties and changes by making sure the right human resources are available at the right time and place.
3) It anticipates and counters imbalances in staffing levels to avoid both shortages and surpluses of employees that could impact productivity.
The document discusses contemporary issues in human resource management (HRM) such as job stress, employee burnout, safety, diversity and discrimination, and sexual harassment and violence. It outlines the meanings, causes, and symptoms of job stress and employee burnout. Job stress can result from conflicts between work and family roles or technological advances, and symptoms include depression, absenteeism, and physical illnesses. Employee burnout stems from factors like high work pressure and lack of work-life balance, and symptoms consist of inability to enjoy life and lack of work enthusiasm. The document also covers improving workplace safety and the negative impacts of discrimination and lack of diversity. HR responses include compensation, employee involvement, and diversity training.
HRP is understood as the process of forecasting an organization's future demand for and supply of the right type of people in the right number. There are at least 10 prerequisites for successful HRP including: 1) HRP must be an integral part of corporate planning and aware of corporate objectives, 2) top management backing is essential, 3) plans should be prepared by skill levels rather than aggregates, and 4) personnel records must be complete, up-to-date and readily available. Successful HRP also requires considering external forces, using HRIS as a decision support system, and revising techniques and plans based on experience.
This document discusses human resource accounting (HRA). It provides definitions of HRA, lists group members, objectives, and methods of HRA including historical cost, replacement cost, opportunity cost, return on efforts employed, and reward valuation. It also discusses costs of human resources like acquisition, training, welfare, and other costs. An example is provided to evaluate HRA and show how human assets can be included in a balance sheet. Advantages include helping with employment and utilization of resources, while disadvantages include assumptions used for valuation and potential for dehumanization.
Human resource development (HRD) involves developing and utilizing human expertise through organizational development, training, and career development to improve employee performance. HRD treats people as valuable resources and assets by focusing on their strengths, involving them in decision making, and empowering them. The objectives of HRD are to benefit both individuals and the organization through personal, organizational, functional, and societal objectives. HRD provides benefits such as fully utilizing individual potential, enhancing competencies, nurturing work environments, and developing higher quality work-life through motivation. Career planning is an important part of HRD and involves processes such as training, management development, personal development planning, career counseling, and mentoring.
This document discusses human resource planning (HRP), including what it is, why it is important, the HRP process, benefits, types of HRP, techniques for forecasting human resource needs and availability, factors that affect HRP, and challenges. HRP is defined as a sub-system of organizational planning that facilitates realizing organizational objectives by providing the right type and number of personnel. The HRP process involves assessing an organization's human resource needs based on strategies and plans, identifying gaps between needs and availability, and developing action plans for implementation. An effective HRP integrated with organizational planning can lower costs, improve resource utilization, and help ensure the right people are in the right jobs.
Human resource management systems operate throughout an employee's tenure with a company, from recruitment and selection through employment management including rewards, appraisals, industrial relations, and termination of employment through retirement, resignation, redundancy, or dismissal. The role of the human resources professional has evolved from administrative personnel functions to strategic partner, employee advocate, change champion, coach, and training and development specialist in order to support organizational strategy, create an environment where employees can succeed and contribute, enable successful change initiatives, provide feedback to managers, and develop employee skills.
This document discusses forecasting human resource (HR) supply and demand. It defines HR forecasting as projecting future organizational HR needs and how those needs will be met. Without forecasting, an organization cannot assess differences between supply and demand. The document outlines factors and methods for forecasting internal and external HR supply, such as trend analysis and competency models. It also discusses factors that influence HR demand forecasting, like employment trends and productivity. Methods for forecasting HR demand include managerial judgment, work-study techniques, and econometrics models.
Human resource planning helps organizations in several key ways:
1) It ensures that organizations have the right number and type of employees with the necessary skills, knowledge, and experience to meet their operational needs.
2) It helps offset uncertainties and changes by making sure the right human resources are available at the right time and place.
3) It anticipates and counters imbalances in staffing levels to avoid both shortages and surpluses of employees that could impact productivity.
The document discusses contemporary issues in human resource management (HRM) such as job stress, employee burnout, safety, diversity and discrimination, and sexual harassment and violence. It outlines the meanings, causes, and symptoms of job stress and employee burnout. Job stress can result from conflicts between work and family roles or technological advances, and symptoms include depression, absenteeism, and physical illnesses. Employee burnout stems from factors like high work pressure and lack of work-life balance, and symptoms consist of inability to enjoy life and lack of work enthusiasm. The document also covers improving workplace safety and the negative impacts of discrimination and lack of diversity. HR responses include compensation, employee involvement, and diversity training.
HRP is understood as the process of forecasting an organization's future demand for and supply of the right type of people in the right number. There are at least 10 prerequisites for successful HRP including: 1) HRP must be an integral part of corporate planning and aware of corporate objectives, 2) top management backing is essential, 3) plans should be prepared by skill levels rather than aggregates, and 4) personnel records must be complete, up-to-date and readily available. Successful HRP also requires considering external forces, using HRIS as a decision support system, and revising techniques and plans based on experience.
This document discusses human resource accounting (HRA). It provides definitions of HRA, lists group members, objectives, and methods of HRA including historical cost, replacement cost, opportunity cost, return on efforts employed, and reward valuation. It also discusses costs of human resources like acquisition, training, welfare, and other costs. An example is provided to evaluate HRA and show how human assets can be included in a balance sheet. Advantages include helping with employment and utilization of resources, while disadvantages include assumptions used for valuation and potential for dehumanization.
Human resource development (HRD) involves developing and utilizing human expertise through organizational development, training, and career development to improve employee performance. HRD treats people as valuable resources and assets by focusing on their strengths, involving them in decision making, and empowering them. The objectives of HRD are to benefit both individuals and the organization through personal, organizational, functional, and societal objectives. HRD provides benefits such as fully utilizing individual potential, enhancing competencies, nurturing work environments, and developing higher quality work-life through motivation. Career planning is an important part of HRD and involves processes such as training, management development, personal development planning, career counseling, and mentoring.
This document discusses human resource planning (HRP), including what it is, why it is important, the HRP process, benefits, types of HRP, techniques for forecasting human resource needs and availability, factors that affect HRP, and challenges. HRP is defined as a sub-system of organizational planning that facilitates realizing organizational objectives by providing the right type and number of personnel. The HRP process involves assessing an organization's human resource needs based on strategies and plans, identifying gaps between needs and availability, and developing action plans for implementation. An effective HRP integrated with organizational planning can lower costs, improve resource utilization, and help ensure the right people are in the right jobs.
The document discusses human resource planning. It defines human resource planning as analyzing and identifying an organization's need for and availability of human resources to meet its objectives. The key aspects of human resource planning covered are forecasting future human resource requirements and supply, comparing forecasts to identify surpluses or shortages, and developing programs to address imbalances. The goal of human resource planning is to ensure the right number and type of employees are available when and where needed.
This document provides an introduction to the syllabus of a course on human resource management. It outlines the key topics to be covered, including acquiring human resources through recruitment and selection, developing human resources through training and career development, enhancing performance through reward systems and ensuring health and safety, and managing employee separation. It also lists the required textbooks and reference books for the course. The evaluation scheme includes components like mid-term examinations, quizzes, assignments, class participation and their respective weightages.
Human Resource Evaluation By Malik Muhammad MehranMalik Mughal
The document presents information on evaluating human resource functions. It discusses the need for evaluation to improve processes, identify alignment with business strategies, and stop ineffective practices. It also describes models for evaluation, including Kirkpatrick's four levels of evaluating reactions, learning, behavior, and organizational impact. The document notes that accurately evaluating HR is difficult as measures tend to be activity-based rather than performance-based, and it is hard to isolate the impact of HR from other factors. It provides information on strategic impact, levels of analysis, criteria for evaluation, levels of constituents, and ethical dimensions to consider in HR evaluation.
HR policies are rules that guide employee performance toward organizational goals. They communicate intentions and translate goals into actions. Objectives of HR policies include fulfilling organizational goals, informing employees, developing duty, providing trained personnel, protecting common interests, establishing trust, and rewarding accomplishments. Policies should be clear, stable, balanced, recognize employee desires, and benefit all parties. There are functional policies for categories and centralized policies across locations. Sound policies are definite, written, reasonably stable, balanced, recognize employee desires, and benefit all.
The document discusses performance appraisals, including their objectives, barriers, and technical difficulties. It notes that performance appraisals objectively assess individuals against benchmarks, and serve to identify needs, determine promotions/assignments, and reinforce organizational goals. Barriers include faulty assumptions by managers, psychological biases, and technical issues like unclear criteria and rating distortions.
This document discusses various types of incentive plans and benefits of incentive plans. It describes individual incentive plans like Halsey Plan, Rowan Plan, Emerson Plan, Bedeaux Plan, and Taylor Plan. It also discusses group incentive plans like gain sharing plans (Scanlon Plan and Rucker Plan), Kaiser-Worker Plan, and profit sharing plans. The key benefits of incentive plans discussed are that they help attract and retain employees, reduce absenteeism, motivate higher performance, and create an efficient workforce.
Forecasting is the process of predicting future events or trends based on historical or current data. It is important for business planning and decision making. There are various quantitative and qualitative techniques used for human resource forecasting, including regression analysis, trend analysis, managerial judgment, and the Delphi technique. Accurate HR forecasting helps organizations prevent understaffing or overstaffing and allows for efficient use of functions like production. Common variables forecasted include staffing needs, absenteeism, and costs. The document discusses different forecasting methods and their applications in HR planning.
This Presentation cover all relative aspects of Human Resource Planning | HR Demand Forecasting & HR Supply Forecasting along with detail description of Recruitment & Selection as per the Syllabus of AKTU MBA Course.
This document discusses wages and salary administration. It covers developing a pay system through job evaluation and market surveys, establishing pay structures, and administering individual pay adjustments while monitoring the system. It also discusses factors affecting compensation levels and the purpose of wages. Principles of compensation administration and different types of compensation like direct, indirect, and total compensation are defined.
Human resource accounting involves measuring the costs and value of employees to an organization. It aims to provide cost and valuation information to aid management decision making regarding acquiring, developing, and maintaining human resources. The objectives of human resource accounting include monitoring human resource use, analyzing whether human assets are conserved or depleted, and facilitating valuation and disclosure of human resources in financial statements.
The document provides an overview of key HR processes including recruitment and selection, performance management, training and development, compensation and benefits, employee engagement, career planning, succession planning, and employee separation. It defines each process and describes the main components, steps, factors, tools, and systems involved. For recruitment and selection, it outlines the recruitment process, types of recruitment, factors impacting recruitment, and differentiates recruitment from selection. For performance management, it discusses the cycle and managing performance versus a performance management system. It also lists some common performance appraisal tools. The document aims to give a comprehensive overview of essential HR processes.
This document discusses the emerging challenges in human resource management (HRM). It identifies several key challenges facing HRM professionals, including globalization, workforce diversity, technological advances, changes in the political and legal environment, changes in the economic environment, and increased mobility of professional personnel. The document then discusses various methods that HRM can use to overcome these challenges, such as cross-cultural training, technological and information training for HR staff, motivating employees through both financial and non-financial means, and implementing proper performance evaluation and career development systems.
The document traces the evolution of human resource management approaches over time, beginning with the Industrial Revolution period where workers were treated like machines. Trade unionism then emerged to protect worker interests through collective bargaining. The social responsibility era saw a more humanistic approach championed by Robert Owen. Scientific management under Frederick Taylor focused on using scientific principles to optimize work. The human relations era emphasized the social and psychological needs of workers. Later approaches incorporated behavioral science, systems thinking, and contingency approaches tailored to different situations.
Performance appraisals are used to systematically evaluate employees' job performance and potential. They have several objectives, including identifying performance gaps, organizational control, and employee development. The performance appraisal process involves establishing standards, measuring performance, comparing to standards, and providing feedback. Key aspects are documentation of performance, clear standards, an objective evaluation technique, and communication of results without personal bias. Most companies use performance appraisals for compensation, training, identifying performance gaps, and goal-setting. When done effectively, performance appraisals can help employees' career development by motivating improvement and charting career progression.
The document discusses the functions of human resource management which include planning, organizing, staffing, directing, and controlling as managerial functions and employment, human resource development, compensation management, and employee relations as operational functions. It also outlines the roles of HR executives as service providers, administrative experts, facilitators, consultants, auditors, change agents, and employee advocates.
Manpower planning determines an organization's human resource needs to achieve strategic goals. It involves forecasting future needs, comparing present staff to requirements, and determining if staff should be recruited or reduced. The process identifies required jobs and skills. It evaluates current staff and forecasts needs using trends, workload analysis, and other techniques. Recruitment, training, and placement programs are developed based on findings. Accurate manpower planning helps optimize workforce usage and reduces issues like overstaffing or skill shortages.
This presentation contains functions of human resources management, recruitment process, types of wage payment plans, selection procedure, types of wage incentives plans. For wage payment I have provide various examples.
The document discusses human resource planning in the transportation, logistics, warehousing and packaging sector in India. It states that the sector currently employs around 7.3 million persons, with the majority employed in road transport and rail transport. It notes that established logistics hubs include Mumbai, Kolkata and Chennai, while emerging hubs are Gurgaon, Vizag, Nagpur and Indore. The document then provides tables showing the typical proportion of employees at different functional levels and with various educational qualifications across different segments like road transport, warehousing, and rail transport.
This presentation includes Performance Appraisal, its meaning and definition and 5 of its traditional methods. It contains oral examples of each of them and also, the difference between Job Evaluation and Performance Appraisal.
The document discusses human resource planning. It defines human resource planning as analyzing and identifying an organization's need for and availability of human resources to meet its objectives. The key aspects of human resource planning covered are forecasting future human resource requirements and supply, comparing forecasts to identify surpluses or shortages, and developing programs to address imbalances. The goal of human resource planning is to ensure the right number and type of employees are available when and where needed.
This document provides an introduction to the syllabus of a course on human resource management. It outlines the key topics to be covered, including acquiring human resources through recruitment and selection, developing human resources through training and career development, enhancing performance through reward systems and ensuring health and safety, and managing employee separation. It also lists the required textbooks and reference books for the course. The evaluation scheme includes components like mid-term examinations, quizzes, assignments, class participation and their respective weightages.
Human Resource Evaluation By Malik Muhammad MehranMalik Mughal
The document presents information on evaluating human resource functions. It discusses the need for evaluation to improve processes, identify alignment with business strategies, and stop ineffective practices. It also describes models for evaluation, including Kirkpatrick's four levels of evaluating reactions, learning, behavior, and organizational impact. The document notes that accurately evaluating HR is difficult as measures tend to be activity-based rather than performance-based, and it is hard to isolate the impact of HR from other factors. It provides information on strategic impact, levels of analysis, criteria for evaluation, levels of constituents, and ethical dimensions to consider in HR evaluation.
HR policies are rules that guide employee performance toward organizational goals. They communicate intentions and translate goals into actions. Objectives of HR policies include fulfilling organizational goals, informing employees, developing duty, providing trained personnel, protecting common interests, establishing trust, and rewarding accomplishments. Policies should be clear, stable, balanced, recognize employee desires, and benefit all parties. There are functional policies for categories and centralized policies across locations. Sound policies are definite, written, reasonably stable, balanced, recognize employee desires, and benefit all.
The document discusses performance appraisals, including their objectives, barriers, and technical difficulties. It notes that performance appraisals objectively assess individuals against benchmarks, and serve to identify needs, determine promotions/assignments, and reinforce organizational goals. Barriers include faulty assumptions by managers, psychological biases, and technical issues like unclear criteria and rating distortions.
This document discusses various types of incentive plans and benefits of incentive plans. It describes individual incentive plans like Halsey Plan, Rowan Plan, Emerson Plan, Bedeaux Plan, and Taylor Plan. It also discusses group incentive plans like gain sharing plans (Scanlon Plan and Rucker Plan), Kaiser-Worker Plan, and profit sharing plans. The key benefits of incentive plans discussed are that they help attract and retain employees, reduce absenteeism, motivate higher performance, and create an efficient workforce.
Forecasting is the process of predicting future events or trends based on historical or current data. It is important for business planning and decision making. There are various quantitative and qualitative techniques used for human resource forecasting, including regression analysis, trend analysis, managerial judgment, and the Delphi technique. Accurate HR forecasting helps organizations prevent understaffing or overstaffing and allows for efficient use of functions like production. Common variables forecasted include staffing needs, absenteeism, and costs. The document discusses different forecasting methods and their applications in HR planning.
This Presentation cover all relative aspects of Human Resource Planning | HR Demand Forecasting & HR Supply Forecasting along with detail description of Recruitment & Selection as per the Syllabus of AKTU MBA Course.
This document discusses wages and salary administration. It covers developing a pay system through job evaluation and market surveys, establishing pay structures, and administering individual pay adjustments while monitoring the system. It also discusses factors affecting compensation levels and the purpose of wages. Principles of compensation administration and different types of compensation like direct, indirect, and total compensation are defined.
Human resource accounting involves measuring the costs and value of employees to an organization. It aims to provide cost and valuation information to aid management decision making regarding acquiring, developing, and maintaining human resources. The objectives of human resource accounting include monitoring human resource use, analyzing whether human assets are conserved or depleted, and facilitating valuation and disclosure of human resources in financial statements.
The document provides an overview of key HR processes including recruitment and selection, performance management, training and development, compensation and benefits, employee engagement, career planning, succession planning, and employee separation. It defines each process and describes the main components, steps, factors, tools, and systems involved. For recruitment and selection, it outlines the recruitment process, types of recruitment, factors impacting recruitment, and differentiates recruitment from selection. For performance management, it discusses the cycle and managing performance versus a performance management system. It also lists some common performance appraisal tools. The document aims to give a comprehensive overview of essential HR processes.
This document discusses the emerging challenges in human resource management (HRM). It identifies several key challenges facing HRM professionals, including globalization, workforce diversity, technological advances, changes in the political and legal environment, changes in the economic environment, and increased mobility of professional personnel. The document then discusses various methods that HRM can use to overcome these challenges, such as cross-cultural training, technological and information training for HR staff, motivating employees through both financial and non-financial means, and implementing proper performance evaluation and career development systems.
The document traces the evolution of human resource management approaches over time, beginning with the Industrial Revolution period where workers were treated like machines. Trade unionism then emerged to protect worker interests through collective bargaining. The social responsibility era saw a more humanistic approach championed by Robert Owen. Scientific management under Frederick Taylor focused on using scientific principles to optimize work. The human relations era emphasized the social and psychological needs of workers. Later approaches incorporated behavioral science, systems thinking, and contingency approaches tailored to different situations.
Performance appraisals are used to systematically evaluate employees' job performance and potential. They have several objectives, including identifying performance gaps, organizational control, and employee development. The performance appraisal process involves establishing standards, measuring performance, comparing to standards, and providing feedback. Key aspects are documentation of performance, clear standards, an objective evaluation technique, and communication of results without personal bias. Most companies use performance appraisals for compensation, training, identifying performance gaps, and goal-setting. When done effectively, performance appraisals can help employees' career development by motivating improvement and charting career progression.
The document discusses the functions of human resource management which include planning, organizing, staffing, directing, and controlling as managerial functions and employment, human resource development, compensation management, and employee relations as operational functions. It also outlines the roles of HR executives as service providers, administrative experts, facilitators, consultants, auditors, change agents, and employee advocates.
Manpower planning determines an organization's human resource needs to achieve strategic goals. It involves forecasting future needs, comparing present staff to requirements, and determining if staff should be recruited or reduced. The process identifies required jobs and skills. It evaluates current staff and forecasts needs using trends, workload analysis, and other techniques. Recruitment, training, and placement programs are developed based on findings. Accurate manpower planning helps optimize workforce usage and reduces issues like overstaffing or skill shortages.
This presentation contains functions of human resources management, recruitment process, types of wage payment plans, selection procedure, types of wage incentives plans. For wage payment I have provide various examples.
The document discusses human resource planning in the transportation, logistics, warehousing and packaging sector in India. It states that the sector currently employs around 7.3 million persons, with the majority employed in road transport and rail transport. It notes that established logistics hubs include Mumbai, Kolkata and Chennai, while emerging hubs are Gurgaon, Vizag, Nagpur and Indore. The document then provides tables showing the typical proportion of employees at different functional levels and with various educational qualifications across different segments like road transport, warehousing, and rail transport.
This presentation includes Performance Appraisal, its meaning and definition and 5 of its traditional methods. It contains oral examples of each of them and also, the difference between Job Evaluation and Performance Appraisal.
The document discusses human resource management and performance appraisals. It covers several topics:
1. The psychological contract between employers and employees and how it relates to job satisfaction.
2. Factors that affect job satisfaction and organizational commitment, including motivation, the individual, and the job itself.
3. How performance appraisals can be used to evaluate employee performance, provide feedback, and determine training needs to improve motivation and retention.
4. The importance of reducing employee turnover through retention strategies like competitive pay and benefits, career development opportunities, and a positive work culture.
This document discusses the concept and scope of human resource management. It states that HR refers to the knowledge, skills, and abilities of an organization's members, and that HR is the most valuable asset of an organization. It also notes that while HR functions are managed by the HR department, all managers are responsible for managing human resources. The document then discusses the objectives of HRM, which include acting as a link between management and employees, maintaining an adequate workforce, and upholding ethics. Finally, it outlines the broad scope of HRM, noting that it encompasses personnel management, employee welfare, and industrial relations.
Islamic banking provides an interest-free alternative to conventional banking based on Shariah (Islamic law) principles. It prohibits Riba (usury or interest) and involves profit/loss sharing arrangements. While still evolving, Islamic banking has grown significantly in recent decades and shows potential to mobilize resources and support economic development in accordance with Islamic values. However, it also faces ongoing challenges in translating principles into practical products and services.
Notes for mba (strategic management) unit isnselvaraj
This document provides an overview of strategic management concepts and processes. It discusses:
1) The conceptual framework of strategic management, including how it has evolved from long-range planning to address rapid changes in business environments.
2) Key elements of strategic management like vision, mission, objectives, and the roles of top management in providing direction.
3) The strategic management process including analyzing internal/external environments, strategic choice, implementation involving structure and control, and feedback.
4) Examples are given to illustrate how organizations strategize to adapt to their environments through expansion, divestment, stability and other decisions.
This document provides an overview of distribution management. It defines distribution management as the efficient transfer of goods from the place of manufacture to the point of sale or consumption. It then lists the names, organizations, and positions of 7 team members presenting on distribution management systems. The presentation goes on to discuss key distribution concepts like product, place, price, and promotion. It also describes different distribution channels including direct selling, indirect selling through wholesalers and retailers, and different distribution intensities. The document concludes with an overview of channel formats like producer-driven, seller-driven, and service-driven distribution.
principles of management important questions and answers for b.com studentsvaibhi191
This document contains answers to important questions for a 1st year B.Com course. It includes summaries of:
1) Henry Fayol's 14 principles of management, which focus on division of work, authority and responsibility, discipline, unity of command, and others.
2) The 10 step planning process involving analysis, objective setting, forecasting, evaluating alternatives, and review.
3) McGregor's Theory X and Theory Y, where Theory X involves close supervision and Theory Y involves participation, commitment, and realizing human potential.
4) The importance of planning for managing objectives, offsetting uncertainty, securing economy, coordination, and effective control.
Strategic management involves four key components: environmental scanning, strategy formulation, strategy implementation, and evaluation and control. The process begins with assessing internal and external factors, then formulating objectives and strategies. Implementation involves developing programs, budgets, and procedures. Finally, performance is monitored and strategies are adapted based on evaluation. The overall process aims to determine the organization's long-term path and manage change.
This document discusses strategic management and the strategic planning process. It defines strategy and outlines three levels of strategy: corporate, business unit, and functional. It then describes the strategic planning process, which includes establishing strategic intent, conducting an environmental scan involving internal and external analysis, and formulating strategy by defining the mission and objectives. The process aims to help organizations effectively manage opportunities and threats to achieve long-term goals.
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SlideShare is a global platform for sharing presentations, infographics, videos and documents. It has over 18 million pieces of professional content uploaded by experts like Eric Schmidt and Guy Kawasaki. The document provides tips for setting up an account on SlideShare, uploading content, optimizing it for searchability, and sharing it on social media to build an audience and reputation as a subject matter expert.
The document discusses the staffing function of management. It begins by defining staffing and explaining that it involves selecting, assessing, and developing personnel to fill organizational roles. It then covers the nature, process, and importance of staffing. The key aspects are:
1) Staffing is a critical, ongoing, and pervasive managerial function that efficiently manages human resources and places the right people in the right jobs.
2) The staffing process involves determining needs, recruitment, selection, orientation, training, compensation, performance evaluation, and potential promotion or transfer.
3) Effective staffing helps achieve organizational goals, utilize resources efficiently, motivate employees, improve human relations, and boost productivity.
Personnel management involves obtaining, using, and maintaining a satisfied workforce. It includes functions like employment, development, and compensation. Personnel management exists to advise line managers on personnel matters. A key part of personnel management is training employees to contribute to organizational and individual goals. Training enhances employee skills, capabilities, and knowledge for performing jobs effectively. It improves employee morale, productivity, and promotes less supervision and fewer accidents. Common training methods include on-the-job and off-the-job training.
Staffing is a core function of management that involves acquiring, developing, and retaining a company's workforce. It includes identifying human resource needs, recruiting and selecting candidates, training and developing employees, managing performance, and determining compensation. Staffing aims to ensure organizations have the right people in the right jobs to achieve goals. It is an ongoing process that is essential at all levels of management and impacted by internal company policies and external environmental factors.
Manpower planning involves analyzing the current workforce, forecasting future needs, and developing employment programs and training to ensure the right people are in the right jobs. It is a systematic process that matches organizational goals with human resources. Key aspects of manpower planning include analyzing current employees, projecting future needs using techniques like trend analysis, developing recruitment and training programs, and ensuring efficient utilization of personnel for higher productivity. It helps identify shortages or surpluses, reduce costs, utilize talents, and support organizational growth. Manpower planning occurs over both short and long terms.
The document discusses the functions of a human resource manager. It outlines three main categories of functions: managerial functions which include planning, organizing, directing, and controlling personnel; operative functions which involve employment, development, compensation, maintenance, motivation, records keeping, industrial relations, and separation; and advisory functions where the HR manager advises top management and department heads. Key aspects of the managerial functions include personnel planning, organizing the structure, directing employees, and evaluating performance via controlling. The operative functions focus on recruitment, training, compensation, welfare, motivation, and managing employee records and relations.
Manpower planning, also called human resource planning, involves analyzing current staffing levels, forecasting future needs, and developing employment programs to ensure the right number and type of employees are available at the right time. It is a systematic process that helps organizations efficiently utilize personnel, improve productivity and human relations, and support managerial functions like planning and controlling. Conducting manpower planning allows companies to identify staffing shortages or surpluses and take corrective actions, while reducing costs and developing talent through targeted training.
This document provides information on personnel/human resource management. It defines personnel management as focusing on hiring and developing employees to be more valuable to an organization. It discusses several definitions of personnel management. It also outlines key functions of personnel management like employment, development, compensation, and some objectives like utilizing the workforce effectively. Finally, it discusses the roles and responsibilities of personnel managers in providing assistance to various levels of management in an organization.
Human resource planning provides several benefits to companies including:
1. It helps recruiting by preparing for future vacancies rather than reacting when employees resign unexpectedly.
2. It supports career development by identifying future leaders and helping them grow into executive/manager roles.
3. It establishes training models for new hires, initiatives, products, and career progression.
4. It incorporates aspects of employee management like performance reviews and disciplinary procedures to help managers and prevent lawsuits.
This document discusses the concepts of human resource management (HRM) and human resource development (HRD). It defines HRM as focusing on managing employees to achieve organizational objectives through policies and systems. HRD is a subsection of HRM concerned with identifying employee strengths and weaknesses to provide targeted training. The importance of HRM/HRD includes organizational growth through workforce development, improving work culture and efficiency, and developing employee potential and performance. Key aspects of establishing an effective HRM/HRD system include strategic workforce planning, compensation strategies, talent recruitment and development, building an engaged culture, and communication.
Staffing refers to the process of acquiring, maintaining, and developing an organization's workforce. It includes human resource planning, recruitment, selection, onboarding, training, and development. The key aspects of staffing are determining current and future human resource needs, attracting qualified candidates, evaluating applicants to select the best candidates, integrating new hires, and developing employees' skills over time. Staffing aims to put the right people in the right jobs to meet organizational goals.
Personnel management involves planning, organizing, compensating, integrating, and maintaining employees to contribute to organizational, individual, and societal goals. The key functions of personnel management include recruitment, training, performance evaluation, compensation, welfare activities, and collective bargaining. The objectives of personnel management are to help achieve organizational goals, provide job satisfaction and opportunities for employees, and benefit society. Principles that guide personnel management include maximizing employee development, scientific selection processes, maintaining high employee morale, respecting the dignity of labor, and fostering team spirit.
Human resource planning identifies an organization's current and future human resource needs. It ensures the right employees are recruited in the right quantities at the right time. The process involves job analysis to understand job requirements, designing jobs, recruitment and selection of candidates, and induction training for new hires. Effective human resource planning links human resource management to an organization's overall strategic plan.
The document discusses several topics related to human resource management:
1. The five main operative functions of human resource management are procurement, development, compensation, integration, and maintenance.
2. The key differences between personnel management and human resource management are that personnel management focuses on employees' grievances while human resource management focuses on employee welfare and development.
3. Major factors that affect human resource planning include both external factors like government policies, economic conditions, and technology as well as internal factors like company strategies and policies, job analysis, and production operations.
This document discusses human resource planning and management. It covers topics such as the goals of human resource planning including balancing supply and demand of manpower and controlling costs. It also describes the major activities in human resource planning like forecasting requirements, inventory of current staff, and anticipating problems. The responsibilities of the HR department in planning include collecting data, ensuring planning is carried out, measuring performance, and providing research. The document also discusses processes like career planning, succession planning, transfers, and promotion policies. It provides details on factors and objectives related to each of these human resource management functions.
A fantastic PPT on staffing. The PPT contains the concept of staffing, along with its features and importance. The PPT discusses about the elements of staffing. Recruitment process and sources of recruitment, selection process, training and its methods.
Human Resource Management (HRM) deals with the recruitment and management of people within an organization. It focuses on issues related to compensation, hiring, performance management, training, benefits, motivation, and administration. HRM aims to develop people through work by applying management principles and functions. Decisions regarding employees must be consistent and influence organizational effectiveness and service quality. HRM functions apply to both business and non-business organizations. The nature of HRM is changing as more functions are outsourced or handled by line managers. HRM involves managerial functions like planning, organizing, directing, and controlling human resources. It also includes operative functions such as employment, development, compensation, maintenance of employee welfare, motivation, record keeping, and
Human resources refer to the individuals who comprise an organization's workforce. HR departments typically handle recruitment, compensation, training, and other employee-related matters. Recruitment involves attracting, screening, and selecting qualified applicants for jobs. It is influenced by factors like strategic plans, organizational policies, and recruitment criteria. Sources of recruitment can be internal, like promotions or transfers, or external, such as advertisements or employment agencies. The selection process includes steps like application reviews, interviews, background checks, and final selection. Effective recruitment and selection are important for organizations to hire suitable candidates and achieve their goals.
Human Resource Management (HRM) involves formal systems for managing employees in an organization. The key responsibilities of HRM include staffing, compensation/benefits, and job design. HRM aims to utilize human resources effectively, develop employees, reconcile individual and organizational goals, and maintain high employee morale. HRM also handles employee disputes, conducts performance appraisals, maintains a positive work environment, and develops public relations. Planning, organizing, directing, and controlling are the main managerial functions of HRM, while key operative functions include recruitment, training, compensation, and employee integration and development.
This document discusses human resource management (HRM) and its functions. It begins by defining HRM as a process involving acquiring, developing, motivating, and maintaining human resources. The nature of HRM is then described as an inherent part of management, pervasive across functions, people-centered, and involving personnel activities like recruitment, training, and compensation. The document also outlines the objectives, importance, challenges, and future of HRM, highlighting strategic planning, facilitating change, and an integrated management approach. Key functions are identified as recruitment, development, compensation, and maintaining industrial relations.
Similar to 3rd study-material-functional-management (20)
1. STUDY MATERIAL / GUIDELINES
For B. Com. 3rd Year Students
In the Subject of FUNCTIONAL MANAGEMENT
PERSONNEL MANAGEMENT
Personnel management can be defined as obtaining, using and
maintaining a satisfied workforce. It is a significant part of management
concerned with employees at work and with their relationship within the
organization.
According to Flippo, “Personnel management is the planning,
organizing, compensation, integration and maintenance of people for the
purpose of contributing to organizational, individual and societal goals.”
According to Brech, “Personnel Management is that part which is
primarily concerned with human resource of organization.”
Nature of Personnel Management
1. Personnel management includes the function of employment,
development and compensation- These functions are performed
primarily by the personnel management in consultation with other
departments.
2. Personnel management is an extension to general management. It
is concerned with promoting and stimulating competent work force
to make their fullest contribution to the concern.
3. Personnel management exists to advice and assist the line
managers in personnel matters. Therefore, personnel department
is a staff department of an organization.
4. Personnel management lays emphasize on action rather than
making lengthy schedules, plans, work methods. The problems
and grievances of people at work can be solved more effectively
through rationale personnel policies.
5. It is based on human orientation. It tries to help the workers to
develop their potential fully to the concern.
6. It also motivates the employees through it’s effective incentive
plans so that the employees provide fullest co-operation.
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2. 7. Personnel management deals with human resources of a concern.
In context to human resources, it manages both individual as well
as blue- collar workers.
Role of Personnel Manager
Personnel manager is the head of personnel department. He performs
both managerial and operative functions of management. His role can
be summarized as:
1. Personnel manager provides assistance to top management-
The top management are the people who decide and frame the
primary policies of the concern. All kinds of policies related to
personnel or workforce can be framed out effectively by the
personnel manager.
2. He advices the line manager as a staff specialist- Personnel
manager acts like a staff advisor and assists the line managers in
dealing with various personnel matters.
3. As a counselor, - As a counselor, personnel manager attends
problems and grievances of employees and guides them. He tries
to solve them in best of his capacity.
4. Personnel manager acts as a mediator- He is a linking pin
between management and workers.
5. He acts as a spokesman- Since he is in direct contact with the
employees, he is required to act as representative of organization
in committees appointed by government. He represents company
in training programmes.
Functions of Personnel Management
Following are the four functions of Personnel Management:
a) Manpower Planning which is also called as Human Resource
Planning consists of putting right number of people, right kind of people
at the right place, right time, doing the right things for which they are
suited for the achievement of goals of the organization. Human
Resource Planning has got an important place in the arena of
industrialization. Human Resource Planning has to be a systems
approach and is carried out in a set procedure. The procedure is as
follows:
1. Analyzing the current manpower inventory
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3. 2. Making future manpower forecasts
3. Developing employment programmes
4. Design training programmes
Steps in Manpower Planning
1. Analyzing the current manpower inventory- Before a manager
makes forecast of future manpower, the current manpower status
has to be analyzed. For this the following things have to be noted-
Type of organization
Number of departments
Number and quantity of such departments
Employees in these work units
Once these factors are registered by a manager, he goes for the
future forecasting.
2. Making future manpower forecasts- Once the factors affecting
the future manpower forecasts are known, planning can be done
for the future manpower requirements in several work units.
The Manpower forecasting techniques commonly employed by the
organizations are as follows:
i. Expert Forecasts: This includes informal decisions, formal
expert surveys and Delphi technique.
ii. Trend Analysis: Manpower needs can be projected through
extrapolation (projecting past trends), indexation (using base
year as basis), and statistical analysis (central tendency
measure).
iii. Work Load Analysis: It is dependent upon the nature of
work load in a department, in a branch or in a division.
iv. Work Force Analysis: Whenever production and time
period has to be analyzed, due allowances have to be made
for getting net manpower requirements.
v. Other methods: Several Mathematical models, with the aid
of computers are used to forecast manpower needs, like
budget and planning analysis, regression, new venture
analysis.
3. Developing employment programmes- Once the current
inventory is compared with future forecasts, the employment
programmes can be framed and developed accordingly, which will
include recruitment, selection procedures and placement plans.
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4. 4. Design training programmes- These will be based upon extent
of diversification, expansion plans, development programmes, etc.
Training programmes depend upon the extent of improvement in
technology and advancement to take place. It is also done to
improve upon the skills, capabilities, knowledge of the workers.
b) Recruitment:
1. Internal Recruitment – is a recruitment which takes place
within the concern or organization. Internal sources of recruitment are
readily available to an organization. Internal sources are primarily three –
Transfers, promotions and Re-employment of ex-employees. Re-
employment of ex-employees is one of the internal sources of
recruitment in which employees can be invited and appointed to fill
vacancies in the concern. There are situations when ex-employees
provide unsolicited applications also.
Internal recruitment may lead to increase in employee’s productivity as
their motivation level increases. It also saves time, money and efforts.
But a drawback of internal recruitment is that it refrains the organization
from new blood. Also, not all the manpower requirements can be met
through internal recruitment. Hiring from outside has to be done.
Internal sources are primarily 3
a. Transfers
b. Promotions (through Internal Job Postings) and
c. Re-employment of ex-employees - Re-employment of ex-
employees is one of the internal sources of recruitment in which
employees can be invited and appointed to fill vacancies in the
concern. There are situations when ex-employees provide
unsolicited applications also.
2. External Recruitment – External sources of recruitment
have to be solicited from outside the organization. External sources are
external to a concern. But it involves lot of time and money .The external
sources of recruitment include – Employment at factory gate,
advertisements, employment exchanges, employment agencies,
educational institutes, labour contractors, recommendations etc.
a. Employment at Factory Level – This a source of external
recruitment in which the applications for vacancies are
presented on bulletin boards outside the Factory or at the
Gate. This kind of recruitment is applicable generally where
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5. factory workers are to be appointed. There are people who
keep on soliciting jobs from one place to another. These
applicants are called as unsolicited applicants. These types
of workers apply on their own for their job. For this kind of
recruitment workers have a tendency to shift from one
factory to another and therefore they are called as “badli”
workers.
b. Advertisement – It is an external source which has got an
important place in recruitment procedure. The biggest
advantage of advertisement is that it covers a wide area of
market and scattered applicants can get information from
advertisements. Medium used is Newspapers and
Television.
c. Employment Exchanges – There are certain Employment
exchanges which are run by government. Most of the
government undertakings and concerns employ people
through such exchanges. Now-a-days recruitment in
government agencies has become compulsory through
employment exchange.
d. Employment Agencies – There are certain professional
organizations which look towards recruitment and
employment of people, i.e. these private agencies run by
private individuals supply required manpower to needy
concerns.
e. Educational Institutions – There are certain professional
Institutions which serve as an external source for recruiting
fresh graduates from these institutes. This kind of
recruitment done through such educational institutions is
called as Campus Recruitment. They have special
recruitment cells which help in providing jobs to fresh
candidates.
f. Recommendations – There are certain people who have
experience in a particular area. They enjoy goodwill and a
stand in the company. There are certain vacancies which are
filled by recommendations of such people. The biggest
drawback of this source is that the company has to rely
totally on such people which can later on prove to be
inefficient.
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6. g. Labour Contractors – These are the specialist people who
supply manpower to the Factory or Manufacturing plants.
Through these contractors, workers are appointed on
contract basis, i.e. for a particular time period. Under
conditions when these contractors leave the organization,
such people who are appointed have to also leave the
concern.
c) Selection:
The Employee selection Process takes place in following order-
1. Preliminary Interviews- It is used to eliminate those candidates
who do not meet the minimum eligibility criteria laid down by the
organization. The skills, academic and family background,
competencies and interests of the candidate are examined during
preliminary interview. Preliminary interviews are less formalized
and planned than the final interviews. The candidates are given a
brief up about the company and the job profile; and it is also
examined how much the candidate knows about the company.
Preliminary interviews are also called screening interviews.
2. Application blanks- The candidates who clear the preliminary
interview are required to fill application blank. It contains data
record of the candidates such as details about age, qualifications,
reason for leaving previous job, experience, etc.
3. Written Tests- Various written tests conducted during selection
procedure are aptitude test, intelligence test, reasoning test,
personality test, etc. These tests are used to objectively assess the
potential candidate. They should not be biased.
4. Employment Interviews- It is a one to one interaction between
the interviewer and the potential candidate. It is used to find
whether the candidate is best suited for the required job or not. But
such interviews consume time and money both. Moreover the
competencies of the candidate cannot be judged. Such interviews
may be biased at times. Such interviews should be conducted
properly. No distractions should be there in room. There should be
an honest communication between candidate and interviewer.
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7. 5. Medical examination- Medical tests are conducted to ensure
physical fitness of the potential employee. It will decrease chances
of employee absenteeism.
6. Appointment Letter- A reference check is made about the
candidate selected and then finally he is appointed by giving a
formal appointment letter.
d) Training: Training is generally imparted in two ways:
1. On the job training- On the job training methods are those which
are given to the employees within the everyday working of a
concern. It is a simple and cost-effective training method. The in-
proficient as well as semi- proficient employees can be well trained
by using such training method. The employees are trained in
actual working scenario. The motto of such training is “learning by
doing.” Instances of such on-job training methods are job-rotation,
coaching, temporary promotions, etc.
2. Off the job training- Off the job training methods are those in
which training is provided away from the actual working condition.
It is generally used in case of new employees. Instances of off the
job training methods are workshops, seminars, conferences, etc.
Such method is costly and is effective if and only if large number of
employees have to be trained within a short time period. Off the
job training is also called as vestibule training, i.e., the employees
are trained in a separate area (may be a hall, entrance, reception
area, etc. known as a vestibule) where the actual working
conditions are duplicated.
MARKETING MANAGEMENT
Marketing Management is a business discipline which is focused on the
practical application of marketing techniques and the management of a
firm's marketing resources and activities. Rapidly emerging forces
of globalization have compelled firms to market beyond the borders of
their home country making International marketing highly significant and
an integral part of a firm's marketing strategy.[1] Marketing managers
are often responsible for influencing the level, timing, and composition of
customer demand accepted definition of the term. In part, this is
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8. because the role of a marketing manager can vary significantly based on
a business' size, corporate, and industry context. For example, in a large
consumer products company, the marketing manager may act as the
overall general manager of his or her assigned product[2] To create an
effective, cost-efficient Marketing management strategy, firms must
possess a detailed, objective understanding of their own business and
the market in which they operate.[3]In analyzing these issues, the
discipline of marketing management often overlaps with the related
discipline of strategic planning.
MARKET SEGMENTATION
Market segmentation is a concept in economics and marketing.
A market segment is a sub-set of a market made up of people or
organizations with one or more characteristics that cause them to
demand similar product and/or services based on qualities of those
products such as price or function. A true market segment meets all of
the following criteria: it is distinct from other segments (different
segments have different needs), it is homogeneous within the segment
(exhibits common needs); it responds similarly to a market stimulus, and
it can be reached by a market intervention. The term is also used when
consumers with identical product and/or service needs are divided up
into groups so they can be charged different amounts. These can
broadly be viewed as 'positive' and 'negative' applications of the same
idea, splitting up the market into smaller groups.
Examples:
Gender
Price
Interests
While there may be theoretically 'ideal' market segments, in reality every
organization engaged in a market will develop different ways of
imagining market segments, and create Product differentiation strategies
to exploit these segments. The market segmentation and corresponding
product differentiation strategy can give a firm a temporary commercial
advantage.
MARKET RESEARCH
Market research is any organized effort to gather information
about markets or customers. It is a very important component
of business strategy.[1] The term is commonly interchanged
8
9. with marketing research; however, expert practitioners may wish to
draw a distinction, in that marketing research is concerned specifically
about marketing processes, while market research is concerned
specifically with markets.[2]
Market research, as defined by the ICC/ESOMAR International Code on
Market and Social Research, includes social and opinion research, [and]
is the systematic gathering and interpretation of information about
individuals or organizations using statistical and analytical methods and
techniques of the applied social sciences to gain insight or support
decision making.[3]
FINANCIAL MANAGEMENT
Meaning of Financial Management
Financial Management means planning, organizing, directing and
controlling the financial activities such as procurement and utilization of
funds of the enterprise. It means applying general management
principles to financial resources of the enterprise.
Scope/Elements
1. Investment decisions includes investment in fixed assets (called as
capital budgeting).Investment in current assets are also a part of
investment decisions called as working capital decisions.
2. Financial decisions - They relate to the raising of finance from
various resources which will depend upon decision on type of
source, period of financing, cost of financing and the returns
thereby.
3. Dividend decision - The finance manager has to take decision with
regards to the net profit distribution. Net profits are generally
divided into two:
a. Dividend for shareholders- Dividend and the rate of it has to
be decided.
b. Retained profits- Amount of retained profits has to be
finalized which will depend upon expansion and
diversification plans of the enterprise.
Objectives of Financial Management
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10. The financial management is generally concerned with procurement,
allocation and control of financial resources of a concern. The objectives
can be-
1. To ensure regular and adequate supply of funds to the concern.
2. To ensure adequate returns to the shareholders which will depend
upon the earning capacity, market price of the share, expectations
of the shareholders.
3. To ensure optimum funds utilization. Once the funds are procured,
they should be utilized in maximum possible way at least cost.
4. To ensure safety on investment, i.e., funds should be invested in
safe ventures so that adequate rate of return can be achieved.
5. To plan a sound capital structure-There should be sound and fair
composition of capital so that a balance is maintained between
debt and equity capital.
Functions of Financial Management
1. Estimation of capital requirements: A finance manager has to
make estimation with regards to capital requirements of the
company. This will depend upon expected costs and profits and
future programmes and policies of a concern. Estimations have to
be made in an adequate manner which increases earning capacity
of enterprise.
2. Determination of capital composition: Once the estimation has
been made, the capital structure have to be decided. This involves
short- term and long- term debt equity analysis. This will depend
upon the proportion of equity capital a company is possessing and
additional funds which have to be raised from outside parties.
3. Choice of sources of funds: For additional funds to be procured,
a company has many choices like-
a. Issue of shares and debentures
b. Loans to be taken from banks and financial institutions
c. Public deposits to be drawn like in form of bonds.
Choice of factor will depend on relative merits and demerits of
each source and period of financing.
4. Investment of funds: The finance manager has to decide to
allocate funds into profitable ventures so that there is safety on
investment and regular returns is possible.
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11. 5. Disposal of surplus: The net profits decision has to be made by
the finance manager. This can be done in two ways:
a. Dividend declaration - It includes identifying the rate of
dividends and other benefits like bonus.
b. Retained profits - The volume has to be decided which will
depend upon expansion, innovational, diversification plans of
the company.
6. Management of cash: Finance manager has to make decisions
with regards to cash management. Cash is required for many
purposes like payment of wages and salaries, payment of
electricity and water bills, payment to creditors, meeting current
liabilities, maintenance of enough stock, purchase of raw
materials, etc.
7. Financial controls: The finance manager has not only to plan,
procure and utilize the funds but he also has to exercise control
over finances. This can be done through many techniques like
ratio analysis, financial forecasting, cost and profit control, etc.
Compiled by Ms. Rashida
Lecturer Commerce
PG Deptt. of Commerce and Management
Govt. Degree College Bemina
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