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Human Resource Management Class Notes_146479118-Human-Resource-Management

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Meaning of Human Resource ↓ In an industrial unit, large number of persons are employed in order to conduct various operations and activities. This is treated as human resource or manpower employed. A business unit needs material resources as well as human resource for the conduct of various activities. Of all the "M"s in management (such as Materials, Machines, Methods and Money) the most important "M" stands for Men i.e., manpower working in the organisation. It is through manpower/employees that all other ingredients of an enterprise-money, machines, materials, marketing, etc., are managed. In brief, Human Resource (HR) constitutes the most important and the most productive resource of an industrial / business unit. It is rightly said that "machines are important in the production process but the man behind the machines is more important". He transforms the lifeless factors of production into useful products. Human resource (HR) is an important asset of a business unit. Well-trained, loyal and efficient team of workers brings success and stability to a business unit. This suggests the importance of human resource in business. People and the organisation in which they work are inter-related and interdependent. organisation moves towards prosperity only by using its available human resource purposefully. Similarly, employees get various monetary and other benefits through the prosperity of their organisation. What is Human Resource Development? HRD ↓ Human Resource Deve ...
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