HRM Essay

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HUMAN RESOURCE MANAGEMENT & STRATEGY   Table of Contents 1. What is Human Resource Management? 2. Does HR make a difference in the firm’s performance? Is HR only a cost to be minimized or it is also a source of value creation? 3. “Opportunities multiply as they are seized - Sun Tzu” 4. Strategic Human Resource Management 4.1 An Insight into Normative HRM 4.2 The context for Strategic Human Resources Management 4.4 Role of Strategic HRM in cross border mergers and acquisitions REFERENCES 1. What is Human Resource Management? Human Resources Management's (HRM) origins came from the USA in the 1950's and gained a wide recognition in the beginning of the 1980s whereas in the UK it was not until the mid of the 1980s. HRM evolved due to pressures in product markets in USA during the recession of 1980-82 and because of the need to create a work situation free of conflict in which both employees and employer worked towards the same goal (unitarist perspective). A few of the first companies to implement HRM in their management system were HP and IBM who consequently did not have trade unions practices implemented into their companies (Beardwell et al, 2004). Storey (1989, p. 5) describes HRM as "a distinctive approach to employment management which seeks to obtain competitive advantage through the strategic deployment of a highly committed and skilled workforce, using an array of cultural, structural and personal techniques". On the contrary, Walton (1985) states that "the new HRM model is composed of policies that promote mutuality- mutual goals, mutual influence, mutual respect, mutual rewards, mutual responsibility. The theory is that policies of mutuality will elicit commitment which in turn will yield both better economic performance and greater human development." 2. Does HR make a difference in the firm’s

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