Managment_Theories

Managment Theories Table of Contents Introduction 2 The evolution of HRM 3 Characteristics of HRM 6 Types of HRM 7 HRM – V’s – Personnel Management 8 Key Differences 10 Key Similarities 12 Conclusion 13 Introduction “Human resource management can be defined as a strategic and coherent approach to the management of an organisation’s most valued assets: the people working there who live individually and collectively contribute to the achievement of it’s objectives”. (Armstrong, 2001:3) The term human resource management has become increasingly familiar to managers since it’s introduction in the early nineteen eighties. Modern companies want to attract, develop and keep the best employees as they see this as key to gaining competitive advantage. They want people who are capable and committed and view these people as valuable assets, an investment for the future of the organisation. But even with the familiarisation of the term it is still difficult to clarify management, hrm, personnel, human, resource, people, traditional, organisation, employees, key, resources, managers, approach, work, job, important, needs, differences, business, one, new, integrated, between, working, under, term, strategic, relations, organisations, however, different, control, companies, armstrong