PROFILE OF

MD. ANAMUL HAQUE

School : Sher-e Bangla Nagar Govt.
Boys High School.
College : Notre Dame College.
University: BBA (Major in Management)
MBA (Major in HRM)
Department of Management
Faculty of Business Studies
University of Dhaka.
Current: Lecturer
Department of Management Studies
Comilla University
Email:
anamul.haque.dumgt@gmail.com
 LECTURE 01
Basic Concepts
and
INVESTMENT PERSPECTIVE OF
HUMAN RESOURCE
MANAGEMENT
 LEARNING OBJECTIVES OF THIS
CHAPTER
After studying this unit, you will be able to understand:
1. Definition of Business. The Goal of the Business.
2. Some Basic Terms of Business.
3. Management, Human Resource and HRM.
4. Industry and Industrial Relations.
5. Factors Influencing Industrial Relations.
6. Objectives of Industrial Relations.
7. Approaches to industrial relations.
8. Differences between IR & HRD.
9. Principles of Good Industrial Relations.
1. BUSINESS!!! WHAT IS THIS???
 A business is an enterprise that provides products or
services desired by the customers.
 An organization or economic system where goods and
services are exchanged for one another or for money.
 A business (also known as an enterprise, a company or a firm)
is an organizational entity and legal entity made up of
an association of people to transact goods and services
in return of money.
 So, a business should be legal. Illegal activities is not a
business in terms of business law.
 2. THE GOAL OF A BUSINESS
The goal of every business is simple:
Increase Customer Satisfaction,
Generate more Revenue, and
Maximize Profits.

In another way,
The primary purpose of a business
is to maximize profits for its
owners or stakeholders while
maintaining corporate social
responsibility.
4. DEFINITION OF MANAGEMENT
 4. DEFINITION OF MANAGEMENT
 Management is a process of getting things done by and through
others. (Conceptual Definition given by “Mary Parker Follet”)

 Management is a set of activities consisting of the planning

and decision making, organizing, leading and controlling
using resources consisting human resources, physical
financial and information resources effectively and
efficiently towards the achievement of organizational goal.
(Functional Definition)
4. DEFINITION OF MANAGEMENT
 Management is the process of reaching
organizational goals by working with and through
people and other organizational resources.

 ‘Management is working with human, financial

and physical resources to achieve organizational
objectives by performing the planning,
organizing, leading and controlling functions’.
 5. EFFECTIVENESS AND
EFFICIENCY
 Effectiveness means doing the right things. That means
choosing the right path, goal or decision.
 Efficiency means doing things right. Means reducing costs in
the organizational activities.

For Example,
A company can produce black and white television at lowest
possible cost. That means the company is very efficient in
producing black and white TV but this effort will not be effective
because there is no demand for black and white TV in the market
now. The company is using its resources in cost efficient manner
but not for right (effective work).
EFFECTIVENESS AND EFFICIENCY
 6. Human Resources (Labor)
The people who are able to perform
work for a business is called human
resources.

They contribute to the production by

using their physical abilities.

In another way they may contribute

by using their mental abilities.
 7. WHAT IS HRM?
Human resource management (HRM) is the
process of determining human resource needs
and then recruiting, selecting, developing,
motivating, evaluating, compensating and
scheduling employees to achieve organizational
goals.

“HRM involves all management decisions and practices

that directly affect or influence the people, or human
resources, who work for the organization.” - Fisher, C
(2004)
 7. WHAT IS HRM?
Human resource management (HRM) involves all
management decisions and practices that directly
affect or influence the people, or human resources,
who work for the organization.
Fisher, C (2004)

HRM can usefully be understood as a set of activities

aimed at building individual and organizational
performance.
Boxall,P and Purcell, J (2008)
 MODEL OF HRM
P = f(A, M, O)
The ability (A) to perform
The motivation (M) to perform
The opportunity to perform
 WHAT IS STRATEGY
Strategy is the formulation of organizational
missions, goals, and objectives, as well as
action plan for achievement that explicitly
recognize the competition and the impact of
outside environmental forces.
McBey, K (2004)
Strategy is “the
identification of the purpose
of the organization and plans and actions
to achieve that purpose”...
Andrews, K (2006)
 WHAT IS SHRM?
 Strategic Human Resource Management (SHRM) is
defined as alignment of strategic
business goals of the organization with
human resources, so as to foster innovation
and improve motivation, satisfaction,
productivity, and eventually overall
performance.
 Strategic HRM is a relatively new term, which
differentiates itself from traditional HRM which
was just merely an organizational function.
 WHAT IS SHRM?
“Strategic HRM is concerned with the strategic choices
associated with the organization of work and the use of
labour in the firms and with explaining why some firms
manage them more effectively than others.”

Boxall,P and Purcell, J (2008)

“Strategic HRM is a set of distinct but interrelated

practices, policies, and philosophies whose goal
is to enable the achievement of the organizational
strategy.”)
McBey, KJ (2004)
 THE STRATEGIC VIEW OF HUMAN
RESOURCES
 Employees are human assets that increase in
value to the organization and the marketplace when
investments of appropriate policies and
programs are applied.
 Effective organizations their
recognize that
employees do have value, much as same as
the organization’s physical and capital
assets have value.
 Employees are a valuable source of sustainable
competitive advantage.