HRM

The Goals of HRM

The Goals of HRM

Introduction

Human Resource Management serves as one of the foremost abilities of an organization and leads the company to the achievement of competitive advantages. The management of human resources is more demanding than the management of technology or assets and for the human resource management to be effective, the organization must incorporate an effective system that ensures it. The human resource management system must be supported by firm management theories and practices; these human resource management practices denote the activities of the organization aimed at the management of the pool of its human resources and the guarantee to employ those resources en route for the accomplishment of the goals and objectives of the organization (Ariyachandra & Frolick, 2008).

Several theories, defining the procedures for setting goals within the organizations, have evolved since the 50's and have associated to it a remarkable, acknowledged literature. These theories address the concerns related to the specification of goals, challenges and the response, having an impact on the overall performance of the organization. For a manager, the most significant issues have always been the specification of goals and the inspiration and motivation of the employees; nevertheless, it is not so easy to make it functional in some particular cases.

A very fine and a systematic means to employ the goal specification, is possible by making use of the “Management by Objectives” theory. This theory pioneered the system of a “smart” way of specifying organizational goals which are precise, computable, attainable, practicable and substantial. The approach of Management by Objectives was outlined in the year 1954 by Peter Drucker, in his book, “The Practice of Management”. In this book, Peter enlightened the core principles on which the theory of Management by Objectives operates, including the surge of the objectives and goals of the organization, specified objectives for each of the personnel, collaborative and open ended decision making, unequivocal time limit, performance assessment and the response (Drucker, Peter F., 1954).

Management by Objectives - MBO

Management by objectives - it is a methodical and a well thought out approach which enable the management to emphasize on the attainable goals and to achieve the finest possible outcomes making use of the available resources. It is directed towards the enhancement of the overall performance of the organization as a result of lining up of the chief goals as well as secondary objectives all through the organization. Employees preferably get strong input for the identification of certain thing like their organizational intents, deadlines for the conclusion of their assignments, etc. The theory of Management by Objectives encompasses the constant tracking as well as a positive response in the procedure in order to accomplish the desired objectives (Drucker, Peter., 1973).

The idea of Management by Objectives approach is intimately associated with the idea of planning. The procedure of planning entails the presence of objectives and it is utilized as a means to attain the desired objectives. The concept of Management by Objectives suggests that the objectives of a particular organization must not ...