CHAPTER I - Of all the factors of production, man is by...

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Of all the factors of production, man is by far the most important. The importance of human factors in any type of co-operative endeavor can not be over emphasized. It is a matter of common knowledge that every business organization depends on its effective functioning not so much on its materials or financial resources as on its pool of able and willing human resource. Human resource management is a management function that helps managers to recruit select train and develop the members of the organization. Human resource management is concerned with the people dimension in organization. Since every organization is made up of people acquiring their service, developing their skills, motivating them to higher level of performance and ensuring that they continue to maintain their commitments to the organization are essential to achieving organizational objectives. This is true regardless of the organization -government, business, education, wealth, recreation, or social action. It is the planning, organizing, directing and controlling of the procurement, development, compensation, integration, maintenance and separation of human resources to the end that individual, organizational and social objectives are accomplished. 1
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HRM is indeed vast. All major activities in the working life of worker from the time of his or her entry into an organization until he or she leaves comes under the purview of HRM. The activities included areplanning, job analysis and design, recruitment and selection, orientation and placement, training and development, performance appraisal and job evaluation, employee and executive remuneration, motivation and communication, welfare, safety and health, industrial relations .The man power or the human resource occupies a very important place in an organization than other resource Definition: According to E.F.L. Brech , "HRM is that part of management process which is primarily concerned with the human constituents of an
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This note was uploaded on 05/18/2010 for the course MBA LOGIST 0942123018 taught by Professor Gupta during the Summer '10 term at 카이스트, 한국과학기술원.

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CHAPTER I - Of all the factors of production, man is by...

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