HRM Fundamentals: Functions, Scope & Strategic Importance | Class 1 Course I. Introduction In today’s hyper-competitive global landscape, businesses often boast about their technology, product innovation, or market share. Yet, at the core of every successful organization lies a single, irreplaceable asset: its people . Human Resource Management (HRM) is the foundational process of managing this crucial asset to ensure an organization achieves its strategic goals . HRM is far more than just "hiring and firing"; it is a strategic and coherent approach to the effective and efficient management of people. By aligning employee capabilities with organizational objectives, HRM transforms human potential into tangible business results. This article explores the definition, key functions, modern scope, and u...
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