Resource: Resource is defined as Economic or productive factor required to accomplish an activity or as means to undertake an enterprise and achieve desired

outcome. Three most basic resources are land, labor and Capital. Human Resource: Human Resource is defined as Scarcest and most crucial productive resource that creates the largest and longest lasting advantage for an organization. Human Resource Management: The terms "human resource management" and "human resources" (HR) have largely replaced the term "personnel management" as a description of the processes involved in managing people in organizations. In simple sense, HRM means employing people, developing their resources, utilizing, maintaining and compensating their services in tune with the job and organizational requirement.

Definition: HRM is a distinctive approach to employment management which seeks to achieve competitive advantage through the strategic deployment of a highly committed and capable workforce, using an array of cultural, structural and personnel techniques