This is a subtsantial piece of writing which requires you to research a particular theory or practice in management that has contributed significantly to the development of the profession
Ideas In Management
“If you pick the right people and give them the opportunity to spread their wings—and put compensation as a carrier behind it—you almost don’t have to manage them.” As quoted by former chairman of General Electric Jack Welch, about people management, it is easier said than done. As the economies and world has transformed from the industrial age to the information age, the prime assets of the company has changed from land and machines to people. Also, we are moving to an economy where workers are quite a mixed balance of labor workers and knowledge workers it is important that organization manage their resources well so that individual goals are aligned with the organization goal. In this we will go through the various research and practices implemented in the field of human resource management and how simple resource management have moved to human resource management and to further strategic human resource management to achieve the strategic goal of the company. In further section we try analyzes the human resource practices and its ethical as well moral implication on organization as well as the society, since it requires a fine balance of managing profit, controlling cost and at the same time understanding and considering needs and wants of the employee. We also discuss the types of contract like transactional and relational contract that firms adopt that has its own set of benefits to employer as well as employee. Finally we conclude that we are living in a globalized world where technology and innovations are changing the way business run and in continuously evolving world we require human management practices that are also adapting to its surrounding and encouraging its employee to adopt to the change.