Strategic Human Resource Management Essay Example | Topics and Well Written Essays - 2000 words - 3

Strategic Human Resource Management - Essay Example A business strategy no matter how good it is, will succeed without the contribution of people. A proper analysis of data collected from human capital can help an organisation in developing business strategy process. In majority of the organisation people is regarded as the most important asset. To create value, an organisation has the task of utilising the knowledge, skills and also abilities of its people. Intangible value that is present in an organisation is its people. The HR personnel therefore have a greater task of managing the people of an organisation. An organisation will be able to achieve its objectives in the business front if strategic HRM is considered as a contributor in business strategy (CIPD, 2009). The case study is about Kazamy Manufacturing, a company having their business in both manufacturing and sales operation. Kazamy is different from other Japanese plants in this regard as most of them are involved only in manufacturing operation. Kazamy has established itself as one of the leading companies in Europe. It focuses on building a cordial relationship with their customers and also they enable their human resources i.e. their staffs to have a say in their marketing policy. Kazamy has given great importance to their manpower resources and utilised their knowledge and qualities in developing the company further. HR director of Kazamy joined in 1986. Since then he along with other members of kazamy hierarchy has worked hard in establishing their position in their business sector. Kazamy followed a strong HR philosophy. They didn’t want a traditional factory which is already present in UK. Their major policies were developed by the use of two principles. They firstly didn’t want to create a prototype Japanese plant existing in the rural Midlands area; secondly they strongly wanted to manage their manpower resource without the influence of any trade union. They valued

308 2nd assignment Essay Example | Topics and Well Written Essays - 1000 words

308 2nd assignment - Essay Example This essay considers these strands of Adam Smith’s theory of classical economics by investigating their interrelation. In the Wealth of Nations Smith offers a famous example of a primitive value system. Using the example of a beaver and a deer, he states that it takes twice as long to hunt the beaver as the deer, so that the beaver should be worth twice as much as the deer. In this example the value of a good is directly related to the labor that is required to procure it, therefore the profit is the compensation or cost of doing business. Smith states, â€Å"In this state of things, the whole produce of labour belongs to the laborer† (Medema & Samuels, 2003, p. 162). Smith acknowledges that such an example is not only simplistic, but due to the complications of the contemporary economic structure is no longer feasible. Indeed, the contemporary market (18th century United Kingdom) has given way to a process he refers to as division of labor, which complicates this example. In the Wealth of Nations Smith argues that one of the fundamental characteristics of the 18th century British economic structure is the division of labor. According to the division of labor In Chapter 1 (Medema & Samuels, 2003), Smith describes a situation where labor is divided within a pin factory so that the ultimate number of pins produced is greatly increased. In order to achieve this increase in production the capitalist must engage the services of the laborer and the landlord, and invest heavily in machinery. It follow that â€Å"In every society the price of every commodity finally resolves itself into some one or other, or all of those three parts† (Medema & Samuels, p.162). Smith is ultimately stating that the price of the commodity, after factoring in the costs of the land, labor, and machinery, is the residual profit. Smith distinguishes between natural prices and