Summary Matrix

Topic Key Takeaways Significance

(What I learned) (Importance of the Topic)
Unit 10: In Unit 10 we learned  This topic “Compensation & Incentives” is
Compensation about: important because it can provide better
& Incentives  The meaning of understanding what really is compensation
compensation and and incentives and how can we apply or use
incentives. it. Learning how to provide good
 The basic purpose compensation is a must for every business
or objective of organization, as it gives an employee a
compensation reason to stick with the company. It can
planning to attract, motivate and retain talent in your
establish and firm.
maintain an
equitable rewards
system and the
factors affecting
the compensation
planning.
 The various modes
of compensation.
 The kinds of
incentives which is
classified under
the categories of:
Individual &
Organizational,
Financial & Non-
Financial and
Positive &
Negative
Incentives.
 Fringes benefits
and kinds of fringe
benefits.
Unit 11: In Unit 11 we learned  The topic “Industrial relation” is important
Industrial about: because it allows us to know that
Relation  The meaning, good industrial relation helps in effective
definition and utilization of man, money and material.
objective of Improved employee morale, industrial peace,
industrial relation. recognition of employee's interest and
 The popular reconciliation of employer's
approaches of and employee objectives and interest
industrial relation increased production with minimum wastage
such as unitary of resources.
perspective,
pluralistic
 perspective and
matrix perspective.
 The suggestion
and measures to
improve industrial
relation and its
significance.
 The industrial
disputes, its form,
causes, prevention
and the
settlement.
Unit 12: Trade In Unit 12 we learned  The topic “trade union” is important because
Unions about: it give us an insight on how significant the
 The meaning, role of trade union among workers. Wherein
objective, function, it is an organization formed by workers from
role, importance of related fields that work for the common
Trade Unions. interest of its members. They help workers in
 The types of Trade issues like fairness of pay, good working
Union which is the environment, hours of work and benefits.
craft unionism,
staff unionism,
industrial union
and general union.
 The rights and
liabilities of Trade
Union.
 The phases of
growth of trade
union in India.
 The multiplicity
and effectives of
Trade Union.

Unit 13: In Unit 13 we learned  The topic “Collective bargaining” is important

Collective about: because it allows us to comprehend how
Bargaining  The meaning, collective bargaining is an important element
concept and of industrial relation. Also, the method of
advantages, determining the terms and conditions of
features of employment and settling disputes arising
collective from those terms by negotiating between
bargaining. the employer and the employees or their
 The types of trade union through collective bargaining. In
collective which we can utilized in the future venture.
bargaining which
can be divided in
three types these
 are: Distributive,
Integrative and
Concessionary
Bargaining.
 The process of
collective
bargaining.
 The collective
bargaining
practices in India.

Unit 14: In Unit 14 we learned  The topic “discipline” is an important topic to

Discipline about: learned for it provides an informative idea of
 The meaning, how significant discipline in human resource
concepts, aspects, management. Discipline ensures individuals
characteristics, maintain silence at workplace and work as a
aims & objectives single unit with their team members to
of discipline. achieve organization goals and
 The meaning of objectives. Discipline is in fact the lifeline of
indiscipline and an organization. Without discipline,
ways to cope with employees would not only misbehave but
it. also do whatever they want to do.
 The causes &
approaches
towards
disciplinary
actions.
 The code of
disciple in Indian
Industry.

Unit 15: Human In Unit 15 we learned  The topic “human resource accounting” is an
Resource about: important aspect to learn in human resource
Accounting management because it provides useful
 The concept and information about the cost and the value of
meaning of Human human resources. It shows the strengths and
Resource weakness of human resources. All of this
Accounting which information allows future managers in
is defined by planning and making the right decision about
various eminent the human resource just like in how
authors. accounting provides useful information to
 The growth and businesses.
development of
human resource
accounting which
is divided into 5
 stages.
 The importance
and objectives of
Human Resource
accounting.
 Human Resource
Accounting can be
explained in three
ways: Monetary
Models, Non-
Monetary Models
& Statical Based
Model.
 Also, the
extremely low
reporting practice
of Human
Resource
Accounting in
India.
Unit 16: In Unit 16 we learned  The topic “managing ethical issues in HRM’ is
Managing about: important to learn because it provides
Ethical Issues in  The nature of ethical attitudes that would help
HRM ethics and needs management to make a better decision
of business ethics which are interest in public, their employees,
with the help of and the company’s own long term good,
the following even though the decision is slower. A
points: introducing company which is inspired by ethical conduct
socialism in is also profitable.
business, interest
of industry,
buyers’ model,
better relationship
with society and
advantages to
business and
society.
 The sources,
importance ethics
and ethical
dilemmas.
 To manage ethics
in workplace and
ethical decision
making.
 The five sources of
ethical standards
 such as the
utilitarian, the
rights, the fairness
or justices, the
common good
approach, and the
virtue approach.

Unit 17: The In Unit 17 we learned  The topic “future of HRM” is also one of the
Future of HRM about: most important aspect to learn in human
 The significance of resource management” for it provides and
Human Resources helps us in the future to be a professional to
Management and effectively asses the relevant candidates
role of HR based in personal traits and critical skills
Managers in required for the job. As such, human
Present Times. resource enables institution and business to
 HR managers create a well-structured team with
focusing attention distinctive organizational culture. Also, give
on policies, insights about the recent trends and ways to
motivation, change attain the constantly changing world.
agent and quality
consciousness.
 The recent trend
of HR, the forces
changing HR and
the emerging
concepts and the
workforce trend.
 The impact of
advance
technology on
HRM.
 The nature and
meaning of E-
Human Resource
Management, its
advantages and
disadvantages.
 The challenges of
HR managers with
the rapidly
changes business
environment.
 The HRM practices
in India.