Human Resources Management Assignment Example | Topics and Well Written Essays - 1250 words

Human Resources Management - Assignment Example This approach of managing the employees with the formation of definite strategies is known as strategic HRM. In other words, the strategic management of human resources implies the supervision and administration of employees according to the present and future objectives of the organization. It’s concerned with long term issues of the employees and it deals with the various macro elements of the organization that includes values, culture, structure, future needs, quality management, knowledge management and human resource development. It has a narrow objective of providing direction to the functions of the management in a chaotic environment, so that it can meet the individual needs and the collective needs of the staff through the application of suitable HR policies. The meaning of strategic human resource management implies: Use of planning A rational approach to the management and design of personnel management which is based on policies and strategies prepared in accordanc e with the philosophy of the organization. ... Figure 3.2 represents the Harvard approach while Figure 3.3 represents the Michigan approach. The Harvard approach is broader in comparison to the Michigan approach. Harvard approach deals with a situational perspective and takes into consideration the interest of the stakeholders in internal and external environment. This model doesn’t only emphasize on the performance but also pays attention towards individual and social well being. On the other hand, the Michigan approach is narrower and defines a much focused model which demonstrates a strong fit between the structure, HRM policies and strategy of the organization. This model puts more importance to the functional level of the human resource management which illustrates that the performance of an individual is dependent on selection, development, rewards and appraisal. The Harvard approach deals with a mixture of process and content theories, while Michigan approach is entirely content oriented.2 Source: Human Resource Man agement: A critical approach Importance of HRM An effective HRM framework helps the organization in3- Recruiting people through proper screening and interview techniques Developing their skills by providing them with proper training programs Motivating them with reasonable remuneration and addressing their grievances Retaining them with the introduction of various appraisal and incentive schemes Explain and analyze the HRM framework The human resource management framework is demonstrated in the following diagram The HRM framework describes all the essential function of the human resource management which has an ultimate objective of placing right kind of people in the right kind of job at the

Fronters Essay Example | Topics and Well Written Essays - 750 words

Fronters - Essay Example Company has an opportunity to make acquisitions (Ringbeck and Roska). Due world financial crisis business, industry has faced huge losses so as an airline industry, but it also present an opportunity to expand business through alliances and mergers. Company can raise money from different financial institutions that offer lower interest rates and can borrow at fixed interest rate. Fixed rate borrowing will prevent the company from bankruptcy, and Frontier can invest more in its expansion rather give as interest. Inflation is impacting the business increasingly day by day. There is great fluctuation in prices of each company that is a big threat for the company. However, managing prices in uncertain conditions is not a piece of cake. Airline industry is covered with unexpected problems and to deal with these problems is difficult. Therefore, it is a big threat for Frontier. For example, in the condition of storm strikes company needs fast communication channels that are a big challenge for Frontier. Because of poor communication system, company has to face negative sentiments of customers that are base for Frontier airlines. Due to economic and financial crisis, the cost of raw material is increasing which cause to increase the cost of services. Therefore, end price which will slowdown the competitive advantage of Frontier airlines. Increased cost is a threat for Frontier. Exchange rate fluctuation is also a threat for the company. In the case of strong Currency, Company will lose its competitive advantage because customers from countries that have lower currency rate will not pay higher prices and company will have to face a price war. Frontier airline was found in 1950 by the merger of three airlines; Arizona Airways, Monarch and Challenger airways. In 1985, the airline was acquired by people express and due to some financial difficulties, the airline faced bankruptcy (Carson, 74). The new Frontier airline was