Question

Discuss about the relation between strategic management and hrm

Answer 1

Every organisation is trying to become more efficient and more productive. The key to an organisations success is to become more global and advance from a technological prospective. In order to become more efficient and to make its goals achievable, an organization should focus the most important assets of all other resources, which is the human capital or the intellectual assets. After all, none other than a person or an employee executes every achievement or any activity in an organization. Thus keeping this particular asset in good terms and managing it up to a standard is quite a challenge in terms of time and similarly finance. However, having a well organized and a well-managed human resource brings more significance to an organizations' wellbeing. This essay will investigate how Strategic Management (SM) and Human Resource Management (HRM) are related, and then evaluated the role they play in providing organisations with a competitive advantage.