Managing Human Capital

Abstract

The increase in competition across the globe has led to an increase in the challenges faced by an organization. In order to succeed, the organizations have to make themselves adaptable and customer focused. In this fast changing environment, the human resource management plays a very crucial role. The human resource department should be business focused and all the strategies and decision that are made by the department should be in alignment with the organization's overall goal.

There are various challenges that are faced by the human resource department. From among the many, one is the diversity in the workplace. In today's world, the success of an organization lies with its ability to recruit individuals from various cultures and diversify its work force. This diversification in the employees brings new and innovative ideas which are very important for organization's to succeed in the global market. The individuals from various cultures, societies and backgrounds can bring in a new perspective and make the organization avail opportunities with more creativity. Another challenge that is faced by the HR department is that which strategies they should apply to enhance the value of the organization as a whole. From among the many challenges faced by the human resource management, three will be discussed in this assignment. The firms that operate internationally have troubles regarding the decision to choose international managers. Organizations can practice their human resource strategies by following the best practice approach or the best fit approach. The decision to follow certain approach is made by the management. An organization that faces deterioration in its performance is called failing organization. These organizations can be made profitable if a turnaround process is applied. This process will reconstruct the whole business to make it achieve better and higher level of performance.

Managing Human Capital

Introduction

There are various problems that are faced by organizations while managing their human capital. These problems with human capital vary from one organization to another. And each organization has to deal with these issues in their own way. From among the many issues that are faced by the human resource department, this assignment focuses on three of them. It emphasizes on determining the various ways that can be used to reconstruct a failing organization. It also covers the issue that the organizations that are operating globally face problems in selecting their managers for international operations. It provides an analysis of the two approaches that are used in human resource practices. These two approaches are the best practice approach and the best fit approach.

The organizations that move their operations globally need to hire managers for their international operations. These managers are called international managers. These individuals are hired by the management to operate the organization's purchases, sales, productions, logistics and human resources across international boundaries. The international managers can be a project leader, operation manager or expert. There are certain skills and abilities that are required for an international manager. These skills and abilities are categorized in two main heads, ...