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Functions of Human Resource Management

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Question - What do you mean by Human Resource Management? Explain various functions of Human Resource Management. Answer Meaning of Human Resource Management Human Resource Management is a management function concerned with hiring, motivating, and maintaining the workforce in an organization. Human resource management deals with issues related to employees such as hiring, training, development, compensation, motivation, communication, and administration. Human resource management ensures the satisfaction of employees and the maximum contribution of employees to the achievement of organizational objectives. According to Armstrong (1997) , Human Resource Management can be defined as “a strategic approach to acquiring, developing, managing, motivating and gaining the commitment of the organization’s key resource – the people who work in and for it.” Functions of Human Resource Management Human Resource Management functions can be classified into the following

International Marketing Management Notes

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The purpose of MBA International Marketing Management Subject is to develop an understanding of the underlying concepts, strategies and issues involved in the marketing of products and services in more than one nation or globally. International Marketing Management contains eight modules namely - International Marketing Environment; Understanding Customer Buying Behaviour; International Marketing Research; International Product Management; International Marketing Communication;  Distribution and Logistics; Strategies of Pricing; and Evaluation and Control. International Marketing Management Subject Modules : Module 1: Introduction to International Marketing Environment Meaning and Definition of International Marketing International Marketing Environment Importance of International Marketing Nature and Scope of International Marketing Difference Between International Marketing and Domestic Marketing Process of International Marketing Identifying and Analysing Int

Human Resource Management Notes

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The objective of  Human Resource Management Subject is to provide a fundamental understanding of Human Resource Management value chain. The subject aims at helping students understand, appreciate and analyze the workforce at managerial and non-managerial levels. The Subject also intends to ensure that they develop a sound knowledge and critical awareness of issues of theoretical and practical relevance. This course requires an ability to analyze and understand the concepts and a keen eye for observing how Human Resource Management policies and practices affect organizational working. Human Resource Management contains five Modules - Linking strategy and HRM in an organizational context, Human Resources in the context of organization’s intrinsic systems, Organisational Performance and HRM, Enhancing HR effectiveness through Training and Development, and Relating Industrial relations With HR. Module 1: Linking strategy and HRM in an organizational context This Module deals w

Advertising Management Notes

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The MBA Advertising Management Subject aims to acquaint the students with concepts and techniques and give experience in applying concepts for developing an effective advertising program.  MBA Advertising management is a four-module subject. The first module deals with the general introduction of advertising and its importance. It will also discuss the functions in the organization and the main duties of the advertising manager. The second module is about Advertising strategies, it will explore the communication mix, creation of any advertising program. The third module is about advertising media, it deals with the different classifications of different media, its planning, scheduling, selection, and evaluation. The last module is the management of advertisement, it deals with advertising budget, control, and administration, it also covers the social responsibility in advertising. Module I: Introduction to Advertising Introduction to Advertisement Definition and Objectives

Business Economics Notes

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Business Economics , also called Managerial Economics, is the application of economic theory and methodology to business. Business involves decision-making, and business economics serves as a bridge between economic theory and decision-making in the context of business. Economic theories, economic principles, economic laws, economic equations, and economic concepts are used for decision-making. On this ground, students of commerce should know the importance of basic theories in actual business applications. Hence the introduction of Business Economics becomes important to the students. Sr. No. Units Topics 1. Introduction to Business Economics Introduction to Business Economics Definition & Meaning of Business Economics Features of Business Economics Nature & Scope of Business Economics Difference Between Economics & Business Economics Business Economics and Decision Making 2. Demand Function Introduction to D

Marketing Management Notes

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The purpose of the MBA Marketing Management Subject is to develop an understanding of the underlying concepts, strategies, and issues involved in the marketing of products and services.  Marketing Management contains five modules: Marketing Concepts and Challenges; Marketing Planning and Control; Marketing Mix, Understanding Customer, and Marketing Information System; and Marketing Strategies. It explores the following topics in detail; Social Marketing, Marketing Mix, Customer Value, Competitor Analysis, Consumer Behaviour, Demand Forecasting, Market Segmentation, Targeting, and Positioning. Module I: Marketing Concepts & Challenges Nature and Scope of Marketing Management , Definition and Meaning of Marketing, Nature and Scope of Marketing, Marketing Process, Marketing Environment, Marketing Organisations, Marketing Challenges, Concept of Green Marketing, Concept of Social Marketing, Concept of Alliance Marketing,   Marketing Mix . Module II: Marketing P

Differences between Personnel Management and Human Resource Management

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Question : Define the terms Personnel Management and Human Resource Management. How Personnel Management is different from Human Resource Management? Answer Introduction The success of an organization depends not only on the effectiveness of utilizing financial and physical resources but also on human resources. The effectiveness of developing human resource is among the most vital issues in an organization. In any organization management of employees is a principal. In an organization, a group of people work together with a common motive i.e. to achieve their organizational goal, which is only possible when efforts of all the people in the organization are efficiently managed. There are two basic approaches that employers adopt to manage people or employee in their organization. They are - Personnel Management and Human Resource Management. The objective of this post is to make you understand the terms - Personnel Management and Human Resource Management. Also,