Foundation of Management
Foundation of Management
IT SECTION
Resources refer to the assets, capabilities, processes, and knowledge that an organization
utilizes to achieve its objectives. These can be categorized into various types, including:
Human Resources: The people who work for the organization, encompassing their skills,
knowledge, experience, and motivation.
Financial Resources: The funds available for use in the organization’s operations and
investments.
Intellectual Resources: Intangible assets like patents, trademarks, copyrights, and proprietary
knowledge.
Management, on the other hand, is the process of planning, organizing, leading, and
controlling resources to achieve specific goals efficiently and effectively. It involves
coordinating human efforts with other resources to maximize productivity while ensuring that
organizational objectives are met.
Training and Development: Once employees are onboard, HRM focuses on their continuous
development through training programs aimed at enhancing skills relevant to their roles. This
may involve orientation sessions for new hires as well as ongoing professional development
opportunities such as workshops or certifications that support career growth.
Workforce Planning: HRM analyzes current workforce capabilities forecasting future needs
based on anticipated business growth changes in strategy succession planning preparing for
future leadership requirements within the organization.
Health & Safety Management: Ensuring a safe work environment is another critical aspect of
HRM’s role involving implementing safety protocols promoting wellness programs among
employees reducing workplace accidents injuries thereby contributing positively towards
employee satisfaction retention rates overall productivity levels too.
The employee selection process is a systematic approach to identifying the best candidates
for a job. The following steps are typically involved:
Job Analysis: This initial step involves defining the role’s responsibilities, required skills, and
qualifications. Job descriptions are created based on this analysis.
Sourcing Candidates: Organizations may use various methods to attract candidates, including
job postings on company websites, recruitment agencies, social media platforms, and career
fairs.
Application Process: Interested candidates submit their applications, which usually include a
resume and cover letter. Some organizations may also require additional materials such as
portfolios or references.
Interviews: Shortlisted candidates are invited for interviews. These can be structured (with
standardized questions), unstructured (more conversational), or panel interviews involving
multiple interviewers.
Assessment Tests: Depending on the role, candidates may undergo various assessments such
as cognitive ability tests, personality assessments, or job simulations to evaluate their fit for
the position.
Final Decision: After evaluating all gathered information from interviews and assessments,
hiring managers make a decision about which candidate to offer the position.
Job Offer: The selected candidate receives a formal job offer outlining salary, benefits, start
date, and other employment terms. Upon acceptance, onboarding procedures begin.
Promotion procedures aim to recognize and advance employees within an organization based
on merit and performance. The following steps are commonly followed:
Internal Job Posting (if applicable): Some organizations post promotional opportunities
internally before seeking external candidates to encourage career advancement among
existing employees.
Decision Making: Management reviews all information gathered during evaluations and
interviews before making a final decision regarding promotions.
Communication of Promotion Decisions: Once decisions are made, employees are informed
about promotion outcomes along with any changes in responsibilities or compensation
packages associated with their new roles.
Termination procedures must be handled carefully to ensure compliance with legal standards
and maintain workplace morale. The following steps outline typical termination processes:
Documentation of Performance Issues: Before termination occurs, it is crucial that employers
document any performance issues or behavioral problems consistently over time through
performance reviews or disciplinary actions.
Final Review Meeting: If termination is deemed necessary after documentation of issues has
been completed, a final meeting is scheduled with the employee to discuss the decision. It’s
important that this meeting is conducted respectfully and professionally.
Exit Interview (optional): Some organizations conduct exit interviews to gather feedback
from departing employees about their experiences within the company which can provide
insights into workplace improvements.