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Planning and Managing Resources

Introduction.

Planning resources is an integral part of the project management process. It entails identifying, evaluating, and allocating the necessary resources to achieve the intended objectives. Planning can help free up resources for a new project and secure the best possible outcomes for service users. This essay will describe how resource planning will make resources accessible for a new project and examine at least three potential funding sources that can be pursued. In addition, it will critically examine the relationship between project management and resource management for short-, medium-, and long-term objectives. In addition to identifying and allocating financial and human resources, resource planning also includes planning equipment, facilities, and technology. It is an integral aspect of the strategic planning process for any firm.

Resource planning

Planning resources is crucial to the effective execution of a project. It identifies the resources required to execute a project and how they are supposed to be utilized most effectively. The planning of resources ensures that the project can be finished within the allotted timeframe and is managed efficiently and cost-effectively (Kerzner, 2019). Planning resources can assist in freeing up resources for a new project by identifying inefficiently utilized resources that can be shifted. It can assist in securing the greatest possible outcomes for service users, as the project will be managed effectively and efficiently. Planning resources requires evaluating the available resources and identifying and assigning those resources to the Project (Langenwalter, 2020). This covers both financial and human resources, as well as any other resources that may be required.

To ensure that adequate resources are available for the new project, it is necessary to examine the project’s demands and identify any gaps or shortcomings in the existing resources. This requires an accurate evaluation of the organization’s current capabilities, including the available budget, personnel, and other resources. After precisely assessing the current capacity, the following stage is to identify the resources required for the new project. This comprises the required funding, workforce, and other resources to complete the project successfully. It is essential to ensure that the assigned resources are adequate for the project and are within the budget. After identifying the necessary resources, the following stage is to discover any future funding or resource sources that may be accessible. It may involve pursuing grants or other external financing sources and internal sources such as reallocating current resources. Once the necessary resources have been identified and allocated, it is crucial to managing them efficiently. While including monitoring and assessing the utilization of resources to guarantee the most efficient and effective use (Shafieezadeh et al., 2020). could involve creating an effective project management system, such as a Gantt chart, to ensure that the resources are assigned and utilized most efficiently. Will contribute to the timely and cost-effective completion of the project.

Sources of Funding

When researching funding sources for a new project, evaluating external and internal sources is essential. External financing sources include grants, contributions, and sponsorships, whereas internal funding sources consist of budgets granted by the organization. Crowdfunding and venture capital may also be investigated (Kerzner, 2019). Grants are a common funding source since they are typically provided to organizations working on projects with a good social impact.

External borrowing is the third funding sourcThis may entail borrowing funds from a bank or other financial institution. It will offer the organization additional funds for the project’s funding. Investigating the available loans and confirming that the organization fits the lender’s requirements (Qiu et al., 2020). The opportunity for donations and sponsorships exists. Involves soliciting funds and sponsorships from external individuals and organizations. It can be utilized to provide more resources for the new initiative and to assist the project. Donations are an excellent method for raising finances for a project, and they are frequently received from individuals interested in supporting the endeavor. Sponsorships are also an excellent fundraising method, as they typically entail an agreement between the organization and the sponsor. Crowdfunding is also a popular funding source, as it enables organizations to raise donations from many individuals. Finally, venture capital is a source of investment to finance a project’s development.

Cost classification is the practice of categorizing expenses into several groups to better comprehend their impact on a company’s budget (Shafieezadeh et al., 2020). Cost classification is essential because it enables an organization to comprehend its financial status and discovers cost-reduction opportunities. Fixed, variable, direct, and indirect costs are typical cost classifications.

Budgeting is an integral component of resource planning. A budget is a financial plan that specifies the income and expenditures of an organization over a specified period. A budget enables an organization to prepare for the future by identifying its resources, calculating expenses, and establishing spending and income objectives.

Effective management of resources is essential for any firm (Langenwalter, 2020). It entails the meticulous planning and allocating of resources to ensure the timely and cost-effective achievement of objectives. Effective resource management necessitates the efficient use of resources, such as financial, human, and physical resources. It also entails thoroughly monitoring resources to ensure they are used to the organization’s advantage.

The relationship between resource planning and management and the performance of an individual, a team, and an organization is crucial. Individuals, teams, and organizations can work more successfully when their resources are properly planned and managed (Read et el., 2019). Resource planning and management can ensure that the objectives of a new project are met within the allotted time frame and budget. In addition, it can guarantee that the project has the appropriate personnel and resources.

Project Management

Project management is important for the successful completion of a project and the efficient administration of its resources. Project management comprises the planning, organization, and control of project operations. It is essential to guarantee that the project is managed efficiently and cost-effectively and that the available resources are utilized efficiently (Chen$ Chen, 2019). To free up resources for a new project, project management may ensure that all available resources are utilized successfully and efficiently. Project Management can contribute to good resource management in a variety of ways. First, it can ensure that the available resources are utilized most efficiently and effectively. It may also involve monitoring and analyzing the utilization of resources to ensure that they are being utilized most effectively. Second, it may ensure that resources are allocated and utilized in the most cost-effective manner possible (Kerzner, 2019). may involve adopting project management tools like Gantt charts to allocate and utilize resources cost-effectively. Finally, Project Management can facilitate the quick allocation and utilization of resources. It may necessitate using project management tools such as Gantt charts to ensure the project is completed on time and within budget. It is required to ensure that the project is completed on time and within budget and that the expected results for service users are attained.

a) Discuss how you can use resource planning to free up sufficient resources for the new project while considering the greatest possible results for service users. You can determine the nature of the new endeavor.

Utilizing resource planning to free up sufficient resources for the new project may involve conducting a comprehensive evaluation and analysis of current resource requirements. This should involve evaluating the project’s present and anticipated demands and the necessary resources to meet those (Shafieezadeh et al., 2020). In addition, the planning process should consider the resources required to execute the project and those that can be moved or released. It involves evaluating personnel and equipment and determining where resources might be garnered from other sectors, such as outsourcing and reusing existing assets. Using the notion of resource planning to free up sufficient resources for the new project demands having a comprehensive perspective of the organization’s existing resources. Involves evaluating current and potential resources, estimating the cost of the new project, and developing a plan to reallocate resources to make room for the new project. Resources can be made available for the new project by identifying areas of waste and inefficiency. A comprehensive study of present resources, employee capacity, and available funds can uncover areas where resources could be employed more efficiently (Chen$ Chen, 2019). The new project and its requirements should be identified. It should include the necessary resources and their intended use.

Additionally, the project should be compared to the current resources to discover duplications or waste. It can aid in determining which resources should be allocated to the new project. Once the new project has been defined, the necessary resources can be allocated, and a budget can be developed. Prioritizing the required resources and ensuring that the available resources are effectively deployed.

Additionally, an exact budget must be developed to ensure that the project can be finished within the allotted time and resources. To free up resources for the new project, it is essential to streamline operations and efficiently use existing resources. It may involve implementing new technology, automating procedures, and restructuring teams and departments. Also included eliminating superfluous duties and simplifying existing processes (Read et el., 2019). .it can substantially reduce the requirement for extra resources, freeing up funds for the new project. It is also essential to ensure that teams collaborate and communicate efficiently. This can assist in discovering areas of waste and inefficiency, as well as improvement opportunities. Introducing more efficient tools and procedures, such as project management software, and encouraging teams to exchange information and resources are ways to ensure that the project is efficiently managed. It includes setting clear goals and objectives, establishing timeframes and milestones, and tracking progress. Also can contribute to the timely and cost-effective completion of the project.

Assessing current and potential resources is the initial step of the procedure. Includes appraising the available people and equipment and the financial resources available. Although the available resources may be limited, they must be utilized efficiently and effectively (Taghipour et al., 2020). For instance, personnel can be assigned to several tasks to free up resources, and equipment can be utilized in multiple ways to maximize the utilization of available resources. The second step is to estimate the cost of the new project. Involves looking at the entire cost of the project and the cost of individual components. It will allow the organization to assess how much additional funding is required to pay the project’s expenses.

The third phase is to devise a plan for reallocating resources to make way for the new project. Considering the present resource allocation and determining if any areas can be reallocated to free up resources for the new Project (Read et el., 2019). For instance, some personnel may be able to work on other projects to free up resources for the new project, and certain equipment may be able to be utilized in many ways to save money. Lastly, it is essential to routinely assess the strategy to ensure that the resources are utilized efficiently and effectively. It will help to ensure that the resources are being used in the most effective way possible and that the new project will be successful.

b) Analyze at least three potential funding sources that could be utilized to make resources accessible for the new project successfully.

Grant money, private sector financing, and institutional funding are three potential funding sources that could be investigated to support the new initiative properly. Government, charities, and other organizations, among others, may offer grant financing opportunities. Funding from the private sector may include venture capital, angel investors, and other private investments. Institutional finance may consist of loans or other support from universities or other educational institutions. Three primary funding avenues might be investigated to acquire resources for a new project. Private funding, public money, and grants are included. Private fundraising entails acquiring funds from private sources, such as individuals, businesses, and foundations. It may involve soliciting contributions, investments, or grants. Private funding is an excellent option for obtaining money for a project because it is quick and simple. Funding from public sources, such as the government or municipal authorities, constitutes public funding. This may involve applying for grants and loans or soliciting public donations. Public money is advantageous since it is frequently more secure than private funding and can give more dependable resources. Grants necessitate the pursuit of money from organizations or foundations (Qiu et al., 2020). Typically, grants are offered for specific projects and can be a great approach to funding a project because the money is frequently provided without conditions. Grants are advantageous because they frequently provide larger sums than private or governmental support.

• Grants and gifts from government entities, commercial enterprises, and charitable organizations: These are given to organizations to assist in funding projects or pay a portion of the cost. Government agencies, such as the Department of Business, Innovation, and Skills, award corporations and organizations funding for specific initiatives. Donations for specific projects come from private companies and nonprofits.
• Public sector funds: These are supplied by the government to support projects and can be utilized to fund particular initiatives (Taghipour et al., 2020).may include money from the Department of Business, Innovation, and Skills, Health and Social Care, and local governments.
• Investments from the private sector Investors from the private sector finance initiatives. This may include venture capital funds, angel investors, and crowdfunding.

c) Discuss the notion of Project Management in terms of how it can help to effectively manage resources to free up short-, medium-, and long-term resources for the new project.

In numerous ways, Project Management can contribute to the successful management of resources, freeing up resources for the new project in the short-, medium-, and long term. Management can aid in efficiently managing resources and releasing funds for the new Project (Taghipour et al., 2020). The project manager should be thoroughly aware of the project’s objectives and the available resources for achieving those objectives. They should be able to efficiently organize and deploy human and financial resources to guarantee that the project is completed on time and under budget. Additionally, they should be able to manage risk and predict resource changes, such as delays or increased expenses. In addition, the project manager should frequently monitor the project’s progress during its duration to ensure that it remains on track. In this manner, project resource management ensures that resources are utilized efficiently and effectively (Chen$ Chen, 2019). Project management is organizing, planning, and controlling the available resources to achieve a desired result. It also requires monitoring and analyzing the project’s progress to ensure it is proceeding as planned and producing the expected results. In releasing resources for a new project, project management can ensure that the resources are utilized as efficiently as feasible. This may entail analyzing the present resource allocation to determine whether any resources can be transferred to make room for the new project. It may also involve examining the entire cost of the project and the costs of its constituent components to estimate how much money must be made available for the project’s success.

In the short-term, project management can assist in freeing up resources by analyzing the present resource allocation and identifying where resources can be shifted to make room for the new project. For instance, some staff members can work on other projects to free up resources for the new endeavor, and certain pieces of equipment can be utilized in many ways to save money.

In order to make resources available for the new project, project management can help free up resources over the medium term by examining potential funding sources (Taghipour et al., 2020). This may include investigating private money, public funding, and grants.

Long-term, project management can free up resources by monitoring and reviewing the project’s progress to ensure it is on track and reaching the anticipated outcomes. It will involve establishing milestones and assessing the project’s progress to ensure it is proceeding as planned. It will ensure that the resources are utilized as efficiently as possible and that the new project will be successful.

Project management also entails tracking progress and evaluating performance. It aids in identifying areas for improvement and waste that can be addressed to free up resources for the new Project (Qiu et al., 2020). It can also assist in uncovering potential dangers and weak areas that can be remedied to free up resources for the new endeavor.

In conclusion, resource planning is necessary for the effective completion of a project and can assist free up resources for a new endeavor. External and internal funding sources may be investigated to acquire resources for the new project. Project management is an essential instrument for efficient resource management. It can guarantee that resources are allocated appropriately and efficiently, that activities are done on time and to the needed standards, and that performance is monitored and assessed. Can guarantee that resources are utilized efficiently and freed up for the new project. The strategic planning process of every organization must include resource planning. It involves identifying and allocating financial and human resources and planning equipment, facilities, and technology. It also includes the identification of financing sources and the classification of expenses into several categories. Budgets are an integral aspect of resource planning, and good resource management is critical for every firm. The relationship between resource planning and management and the performance of the individual, the team, and the organization is crucial. It can have a substantial effect on the success of any project. By comprehending the ideas of resource planning and managing resources efficiently, companies may ensure that they have the resources necessary to accomplish their goals and objectives. Lastly, project management is crucial for properly managing resources and completing a project. Therefore, it is essential to guarantee that the project is managed efficiently and cost-effectively and that all available resources are utilized appropriately.

Langenwalter, G. A. (2020).  Enterprise resources planning and beyond: integrating your entire organization . CRC Press.

Qiu, Z., Lyon, S. W., & Creveling, E. (2020). Defining a topographic index threshold to delineate hydrologically sensitive areas for water resources planning and management.  Water Resources Management ,  34 , 3675-3688.

Taghipour, M., Shabrang, M., Habibi, M. H., & Shamami, N. (2020). Assessment and Analysis of Risk Associated with Implementing Enterprise Resource Planning (ERP) Project Using FMEA Technique (Including Case-Study).  Management ,  3 (1), 29-46.

Chen, B. P. T., & Chen, C. S. (2019). Feasibility assessment of a water supply reliability index for water resources projects planning and evaluation.  Water ,  11 (10), 1977.

Kerzner, H. (2019).  Usin  Kerzner, H. (2019).  Using the project management maturity model: strategic planning for project management . John Wiley & Sons.

Read, L. K., Hogue, T. S., Edgley, R., Mika, K., & Gold, M. (2019). Evaluating the impacts of stormwater management on streamflow regimes in the Los Angeles River.  Journal of Water Resources Planning and Management ,  145 (10), 05019016.

Shafieezadeh, M., Kalantar Hormozi, M., Hassannayebi, E., Ahmadi, L., Soleymani, M., & Gholizad, A. (2020). A system dynamics simulation model to evaluate project planning policies.  International Journal of Modelling and Simulation ,  40 (3), 201-216.

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Essay on human resource management (hrm).

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Read this essay to learn about Human Resource Management (HRM). After reading this essay you will learn about: 1. Definition of Human Resource Management 2. Objectives of Human Resource Management 3. Scope 4. Need 5. Importance 6. Limitations.

• Essay on the Limitations of Human Resource Management

Essay # Definition of Human Resource Management :

Human resource management may be defined as a set of policies, practices and programmes designed to maximise both personal and organisational goals. It is a process by which the people and organisations are bound together in such a way that both of them are able to achieve their objectives.

According to Flippo, “Human resource management is the planning, organising, directing and controlling of the procurement, development, compensation, integration, maintenance and reproduction of human resources to the end that individual, organisational and societal objectives are accomplished.”

This definition reveals that human resource management is that aspect of management which deals with the planning, organising, directing and controlling the personnel functions of an enterprise. The purpose of these functions is to assist in the achievement of basic organisational, individual and societal goals.

According to Institute of Personnel Management (U.K.):

“Personnel Management is an integral but distinctive part of management concerned with people at work and their relationships within the enterprise. It seeks to bring together into an effective organisation the men and women who staff the enterprise enabling each to make his/her best contribute to its success, both as a member of a working group and as an individual. It seeks to provide relationships within the enterprise that are conducive both to effective work and human satisfaction.”

Essay # Objectives of HRM :

The primary objective of HRM is to ensure a satisfactory accomplishment of the objectives of an organisation and of its employees. While framing the HR objectives of the organisation, care is taken to consider the interests and needs of the employees and of employee goals. This is done by integrating the employee interests and the management interests with a view to achieve the objectives of the entire organisation.

The objectives of the HRM are, basically, four fold as shown in the diagram above:

The objectives are discussed in detail as follows:

(i) Societal Objectives:

The basic objective of HRM towards the society should be to ensure that their organisation manages human resources in an ethical and socially responsible manner through ensuring compliance with legal and ethical standards.

Thus, this objective includes:

i. To manage human resources in an ethical and socially responsible manner.

ii. To ensure compliance with legal and ethical standards.

iii. To minimise the negative impact of societal demands upon the organisation.

(ii) Organisational Objectives:

The organisational objectives of HR include the following:

i. HR department, like any other department in an organisation, should focus on achieving the goals of the organisation first. If it does not meet this purpose, the HR department cannot exist in the long run.

ii. HR department should recognise its role in bringing about organisational effectiveness.

iii. HRM is not an end in itself. It is only a means to assist the organisation with its primary objectives. In simple words, the HR department should aim at serving rest of the organisation.

(iii) Functional Objectives:

The functional objectives of HRM include the following:

i. To maintain the HRM department’s contribution at a level appropriate to the organisation’s needs. Resources are wasted when HRM is either more or less sophisticated to suit the organisation’s demands.

ii. The department’s level of service must be tailored to fit the organisation it serves.

iii. HRM should employ the skills and abilities of the workforce efficiently. It should aim at making the people’s strengths more productive and beneficial to the organisation.

iv. HRM should aim at providing the organisation with well trained and well-motivated employees.

(iv) Personnel Objectives:

Personnel objectives or personal objectives of the employees must be met if employees are to be maintained, retained and motivated. Otherwise employee performance and satisfaction may decline and they may leave the organisation.

The objectives of HRM in this context are:

i. HRM should increase employees job satisfaction to the fullest extent.

ii. HRM should also meet the self actualisation needs of the employees’. It should stimulate every employee to achieve his potential.

iii. HRM should assist the employees in achieving their personal goals, at least in so far as these goals enhance the individual’s contribution to the organisation.

iv. HRM should develop and maintain a quality of work life (QWL). It makes employment in the organisation a desirable, personal and social situation. Organisational performance can never be improved without improving the quality of work life.

v. The HRM should also communicate HR policies to all employees. It will help the HRM in tapping the ideas, opinions, feelings, and the views of the employees.

Essay # Scope of Human Resource Management:

According to Dale Yoder, the scope of human resource management is very wide.

It consists of the following activities:

(i) Setting general and specific management policy for organisational relationships and establishing and maintaining a suitable organisation for leadership and cooperation.

(ii) Collective bargaining, contract negotiation, contract administration and grievance handling.

(iii) Staffing the organisation, finding, getting and holding the prescribed types and number of workers.

(iv) Aiding in the self-development of employees it all levels providing opportunities for personal development and growth as well as for acquiring requisite skill and experience.

(v) Developing and maintaining motivation for workers by providing incentives.

(vi) Reviewing and auditing manpower management in the organisation.

(vii) Industrial relations research-carrying out studies designed to explain employee behaviour and thereby effecting improvement in manpower management.

The Indian Institute of Personnel Management:

Personnel Management in India, has described the scope of human resource management into the following aspects:

1. The Personnel Aspect:

This aspect of human resource management is concerned with the manpower planning, recruitment, selection, placement, induction, transfer, promotion, demotion, termination, training and development, layoff and retrenchment, wage and salary administration, incentives, productivity etc.

2. The Welfare Aspect:

The welfare aspect is concerned with working conditions and amenities such as canteens, creches, rest rooms, lunch rooms, housing, transport, education, medical help, health and safety, washing facilities, recreation and cultural activities etc.

3. The Industrial Relations Aspect:

This aspect is concerned with the company’s relations with the employees. It includes union management relations, joint consultation, negotiating, collective bargaining, grievance handling, disciplinary actions, settlement of industrial disputes etc.

All the above aspects are concerned with human element in industry as distinct from the mechanical element.

HRM has a crucial role to play in the organisation, so following scopes can be associated with HRM:

1. Identifying and Developing Persons:

The success of every organisation depends upon the quality of persons it employs. HRM helps in spotting right person for the right jobs. Persons are prepared for taking up different jobs.

Every person may not be suitable for every job. Persons are assigned jobs as per their aptitudes. Persons are given right type of training so that they are able to develop their potentialities to the maximum. They are also motivated to give their maximum to the organisation.

2. Retaining Suitable Persons:

The rapid development of technology is throwing up new challenges every day. Modernisation of various techniques, computerisation and data processing, introduction of microprocessor controlled machines and revolution in communication techniques have resulted in a demand for trained and highly skilled persons.

HRM not only helps in procuring suitable persons but is also useful in retaining them. There may be a redundant workforce because of various developments, efforts be made to offer golden handshake to them.

3. Creating Work Culture:

HRM approach emphasises the development of employees’ potentialities and using them for achieving organisations goals. The aims and priorities of individual workers are given due weight-age in the schemes of the organisation. Human resource policy is backed by human values, understanding and concern for the welfare of people.

Persons in the organisation will reciprocate by improving their efficiency, motivation, self-co-ordination and greater co-operation. The work culture in the organisation improves; people feel satisfied and enjoy their work.

4. Educating Managerial Personnel:

HRM approach will succeed only when managerial personnel change their attitude towards the workforce. There is a need to educate executives, managers and top management regarding various aspects of the human resources approach adopted by the organisation.

5. Conducting Research:

HRM will be successful only if we know the aspirations and expectations of various persons working in the organisation. The framing of human resource policies, strategies and approaches depends upon the information collected through research.

6. Developing a Communication System:

There is a need to develop downward, upward and lateral communication in the organisation. HRM develops a system of communication where policies of the management are properly communicated to the lowest level of hierarchy and feedback from lower levels is conveyed to the top management. Communication system helps in understanding the viewpoints of each other and taking up remedial steps, if needed.

Essay # Need for Human Resource Management:

Human resource management helps in creating a better understanding between employees and management. It helps workers in accomplishing individual and organisational goals. This approach has been attracting the attention of management professionals in the last decade or so.

HRM is considered essential due to the following reasons:

1. Better Industrial Relations:

There is widespread unrest, strained worker-management relations, lack of confidence in each other, rising expectations of workers, emergence of militancy in trade unions etc. These factors have created a gap among workers and managements. Both sides are talking of exploitation by the either side. In the absence of cordiality in an organisation the performance of workers is adversely affected.

HRM approach is required to create proper understanding among workers and management. The workers are developed to meet their individual and organisational objectives. The workers are convinced that various managerial actions will help them in accomplishing their motives besides helping the organisation.

2. Develop Organisational Commitment:

There is a humanisation of work environment in industrialised countries like Japan, U.S.A., Germany etc. and other countries. Globalisation of economy has exposed Indian industries to international competition. An improvement in efficiency and quality of work can come only when workers develop organisational commitment. HRM approach helps in creating a sense of pride for the organisation among the workforce.

3. Coping With Changing Environment:

The business environment is rapidly changing. Technological improvements have revolutionised production procedures. Automation has been introduced in office operations.

Better communication channels have revolutionised vital areas of business. There is a need to cope with new and changing situation. The operational efficiency of employees must improve to face the new situation. There is a need for new approach to manpower.

4. Change in Political Philosophy:

Political Philosophy has undergone a change all over the world. The new approach is to develop human resource properly for making its better use. In India, Central Government has named a Ministry as Human Resource Development and put it under the charge of a Cabinet Minister. This development shows the importance given to human resource. So there is a need for human approach towards the workforce.

5. Increased Pressure on Employees:

The technological changes have necessitated the use of sophisticated machines. The installation, monitoring of machines, maintenance and controlling of operations need trained and skillful people.

There is a regular need for training and development of people for coping with the emerging situations. Human resource development has become essential for every organisation. Research and fresh initiatives in industry require new policy of human resource development.

Essay # Importance of Human Resource Management (HRM):

Human Resource Management is important to the organisation in a number of ways, as follows:

1. Importance for the Organisation:

Human resource management is important for the organisation due to the following:

i. Good human resource practices help in attracting and retaining the best people in the organisation.

ii. In order to make use of latest technology the appointment of right type of persons is essential. The right people can be fitted into new jobs properly only if the management performs its HR function satisfactorily.

iii. Globalisation has increased the size of the organisations, who employ thousands of employees in different countries. The performance of the company depends upon the qualities of the people employed. This has further increased the importance of HRM.

iv. Human resource planning alerts the organisation to the types of people it will need in the short, medium and long run.

v. Human resource development is essential for meeting the challenges of future. The importance of HRM has increased because of the shortage of really good managerial talent in the country.

2. Importance for the Employees:

The human aspect of organisations has become very important over the years. HRM stresses on the motivation of employees by providing them various financial and non-financial incentives. Right organisational climate is also stressed upon so that the employees can contribute their maximum to the achievement of the organisational objectives.

Effective management of human resources promotes team work and team spirit among employees. It offers excellent growth opportunities to people who have the potential to rise. It also encourages people to work with diligence and commitment.

3. Importance for the Society:

Society as a whole is the main beneficiary of good human resource practices. Good HR efforts lead to productivity gains (ratio of output to input) to the society, since it enables the managers to reduce costs, save scarce resources, enhance profits and offer better pay, benefits and working conditions to employees.

The importance of HR is very intelligently explained by Herbert E. Meyer in following words:

“The name of the game in business today is HR. You can’t hope to show a good financial or operating report unless your human relations are in order and it is immaterial what kind of company you are running. A chief executive is nothing without his people. You got to have the right ones in the right jobs for them and you got to be sure that employees at every level are being paid fairly and being given opportunities for promotion. You can’t fool them and any chief executive who tries is going to hurt himself and his company.”

Essay # Limitations of Human Resource Management :

HRM approach is very useful in creating work culture in the organisation but still it suffers from certain limitations:

1. Recent Origin:

HRM is of recent origin, so it lacks universally approved academic base. Different people try to define the term differently. Some thinkers consider it as a new name of personnel management. Some organisations have named their traditional personnel management department as human resource management department. With the passage of time an acceptable approach will be developed.

2. Lack of Top Management Support:

HRM must have the support of top level management. The change in attitude at the top can bring good results while implementing HRM. Because of passive attitude at the top, this work is handled by personnel management people. Unless otherwise there is a change in approach and attitude nothing spectacular is going to happen.

3. Improper Implementation:

Human resource management should be implemented by assessing the training and development needs of employees. The needs and aspirations of people should be taken into account while framing human resource policies.

HRM is implemented half-heartedly. The organising of some training programmes is considered as the implementation of HRM. Management’s productivity and profitability approach remains undisturbed in many organisations.

4. Inadequate Development Programmes:

Human resource management requires implementation of programmes such as career planning, on the job training, development programmes, counselling etc. There is a need to create an atmosphere of learning in the organisation. In reality HRM programmes are confined to class room lectures and expected results are not coming out from this approach.

5. Inadequate Information:

Some organisations do not have requisite information about their employees. In the absence of adequate information and database this system cannot be properly implemented. There is a need to collect, store and retrieve of information before implementing human resource management.

The liberalisation of economy, entry of multinationals in Indian markets, raising of quality standards of Indian goods, growing competition will put pressure on human resources of every organisation.

Managements will be required to constantly assess and reassess competence levels of their employees. Training and development programmes will be needed to motivate personnel to cope with the new requirements. Human resource management will have a pivotal role in managing the business in near future.

Related Articles:

• HRM: Human Resource Management: it’s Meaning and Essentials
• Human Resource Management: it’s Meaning, Definition and Nature

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Free Essay On Strategic Resource Management

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Topic: Technology , Company , Business , Blackberry , Organization , Camera , Leadership , Adoption

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Strategic resource management refers to the art and ability to managing and maintaining the capital present in an organization. It entails planning on how to acquire, store, use as well as dispose of the resources an organization uses in the course of doing business. The management is directed towards the achievement of the organizational goals. It helps to deal with quality, commitment, culture and matching resources available to the future needs of an organization. Information technology is one of the resources available for companies to use so as to improve their business. Used in the right way and at the right time, information technology can boost functions of an organization and even make them leading in their line of business. Information technology is very important to businesses. The main advantages of incorporating technology in a business include increased efficiency. Organizations need to increase their level of efficiency, especially relating to utilization of the available resources. Increasing efficiency ensures they increase their productivity, which in turn increases their income and thus their profitability. Technology also helps to boost communication within and outside the organization. A company can learn the global trends in the world market as well as available resources that would help them improve their business. Moreover, communication enables the company to communicate with their customers with a lot of ease. Customers communicate their needs, air their grievances as well as compliments towards company products and the company’s way of conducting business. Customer communication is mainly through social media where companies embrace sites such as Facebook and Twitter. Through technology, a company makes more sale as they have a large customer base available online from which they can sell their products. Despite the many advantages associated with technology, there are also some disadvantages. They include the creation of unemployment. Some jobs become redundant when technology is embraced leading to people losing their jobs, thus increasing the unemployment rate. It also leads to lack of job security. Technology changes every day, thus necessitating employees to keep updating their knowledge. However, older employees are unable to adapt to changing technology faster than their younger counterparts. It leads to them losing their jobs in the long run, and they are replaced by the younger employees. It also leads to increased insecurity as hackers can obtain private information online. A major disadvantage experienced by firms that fail to embrace technology fast is redundancy. Some organization produces products that were only used in the olden days before the invention of technology. A good example is a film which has now become redundant with the introduction of digital cameras. The digital cameras are also becoming redundant as companies have started manufacturing smartphones, tablets and iPads which have cameras and are multipurpose. Therefore, in the near future, the market for digital cameras will be no more as people will acquire phone and tablets that function better than digital cameras and have other functions. Kodak is an example of a firm that adopted information too slowly in its business which led to its bankruptcy. It focuses on imaging products and is especially known for producing the best films as well as photographic papers. It had been the leading company in photography for a long time. However, due to their slowness in changing to digital photography, the company started struggling financially in the 1990s. At this time, technology was changing, and people were transitioning to filmless cameras as compared to film cameras which Kodak sold. They thus experienced a decline in sales and eventually by 2000they had to change with the new technology . The organization had invented the digital camera in the 1970s. However, they sat on the technology as they feared that filmless cameras would ruin their core business which was in film cameras. By this time, most companies did not have the digital cameras. Had the company adopted the new technology then, and switched to the production of digital cameras, they would not have undergone the financial crises that they faced later in the 2000s. As the company sat on the technology, competitors such as Sony, Fuji, switched to digital photography. By early 2000s, Kodak was outshone by competitors and was no longer the leading organization in photography. The main reasons why Kodak failed was their fear of adopting change . A change is as good as a rest. This quotation is used by most people to refer to the importance of bringing about change in the way of doing business. Kodak had the new technology available at their disposal early enough. Had they adopted the technology and shifted their resources to the production of the new product, they would still be the leading company in photography. It is thus very crucial for an organization to realize that adopting a new technology fast has lots of benefits as compared to the slow adoption of a new technology. BlackBerry Limited is another company that has changed a lot due to technological influences. The company adopted technology very fast and at some point made a fatal mistake that led to its doom. The company was the pioneer in availing email services to mobiles and thus became popular among leaders, the rich as well as corporate. Up to early 2007, revenues of Blackberry Company increased, and it was considered the ultimate solution for users . However, in the mid-2007, Apple Company introduced their iPhone, which was considered a competitor against the BlackBerry phones. IPhones were the first popular touchscreen phones. Despite the new technology by BlackBerry competitor, the company did not respond by producing a similar touchscreen phone. Rather, they ignored the invention and continued producing keyboard phones. IPhone turned out to be popular, and that was the beginning of the fall of BlackBerry . The iPhone did not just attract the younger generation as Blackberry had initially thought. Rather, it attracted business leaders, corporates and the rich who were the core market of blackberry products. Blackberry’s market share, thus began to reduce. Soon, other manufacturers produced similar smartphones thus further subdividing the core market of the company. Despite this, BlackBerry maintained their status as a business email device, though they were losing on the other end. In 2008, the company decided to manufacture a touchscreen device to compete with iPhone and other smartphones. People bought it as the company has maintained its status. However, due to their rush to compete with competitors, their touchscreen phones were not of excellent quality. People started complaining of the device’s functionality and by 2010 BlackBerry lost its largest market share to Apple and Google’s Android. Choices have consequences. Black Berry Company knows this quotation better. They made the wrong decisions that led to the wrong technological adaptations and hence the failure of the company. Jim Balsillie, a co-CEO had the brilliant idea of shifting to instant messaging software. However, the idea was rejected by BlackBerry founder Mike Lazaridis and other executives like CEO Thorsten Heins. The founder emphasized in the production of keyboard devices, but CEO Heins and his executive did not heed his advice. Rather, they launched the touchscreen which had a disastrous outcome and later led to fall of the company . We can thus conclude that though technology is very crucial and useful, there is a need to adopt it in moderation. Kodak was too slow to adopt the new technology and embrace it in its business, and this had a disastrous outcome. It declared bankruptcy, although currently it is trying to keep up with the new technology. BlackBerry, on the other hand, adopted the new technology so fast that it led to the fall of the company. They did not take the time to examine and learn exactly how the new technology worked so that they could embrace it adequately. Rather, they adopted it so fast with an aim to keep up with their competitors. It eventually led to the fall of the company. Organizations thus need to be careful while adopting a new technology. Adequate research should be conducted in advance.

Mui, C. (2012, January 18). How Kodak Failed. Forbes Magazine. Newman, R. (2012, January 19). 4 Lessons From Kodak's Comedown. US News. Silcoff, S., Mcnish, J., & Ladurantaye, S. (2013, September 27). Inside the Fall of Blackberry: How the Smartphone Inventor Failed to Adapt. The Globe and Mail.

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