HR Strategy


Human resource strategies define how a company will manage its people toward the achievement of business objectives—setting priorities for action. Like any strategy, a human resource strategy is a directional plan of action for managing change. It provides a business perspective of actions necessary to gain and sustain competitive advantage through the management of human resources—a focus on priorities in managing people in a changing environment.

Through human resource strategy, managers and human resource staff jointly define and resolve people-related business issues. The planning process adds value by helping managers identify the issues most critical to the organization’s competitiveness and ultimately to its success. It helps management set priorities and define a vision of how it intends to manage its people.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Rolling up your Sleeves


If there’s one way that you can get other people to become more interested and more focused on improving themselves, it is to lead by example. Take time out to go on training courses, even though you may be too busy. Take time to read useful information, not just novels, books or newspapers but actual up-to-date books and texts from the experts within your industry. Practise your skills, use them and make sure that they’re developed as far as they possibly can be. If it means learning a new language or learning a skill that you don’t have then take on that challenge. It is very difficult to manage people well if you have low self-esteem, but if you feel good about yourself and you have that feeling of progress and achievement, then it is very hard for this not to rub off on other people.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Factors of Production


Each business has its own mix of the four factors of production, vis-à-vis, natural resources, labor, capital, and entrepreneurship.

Natural resources refers to everything useful in its natural state as a productive input including agricultural land, building sites, forests, mineral deposits, and so on. Natural resources are basic resources required in any economic system.

Labor is critically important. It refers to everyone who works for a business, from the company president to the production manager, the sales representative, and the assembly line worker.

Capital is defined as the funds necessary to finance the operation of a business. These funds can be provided in the form of investments, profits, or loans. They are used to build factories, buy raw materials, hire workers, and so on.

Entrepreneurship is the taking of risks to set up and run a business. The entrepreneur is the risk taker in private enterprise system. In some situations the entrepreneur actively manages the business; in others this duty is handed over to a salaried manager.

All four factors of production must receive a financial return if they are to be used in a private enterprise system. These payments are in the form of rent, wages, interest, and profit. The specific factor payment received varies among industries, but all factors of production are required in some degree for all businesses.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Managing Technology


A significant organizational challenge confronting managers today is the set of issues involving the management of technology. Technology is the mechanical and intellectual processes the organization uses to transform inputs (raw materials, parts, cash, facilities, people) into products or services. Managing technology is essentially a reactive process. Whenever a supplier came up with a new piece of equipment to replace an old one, the organization buys it and trains its workers in how to use it.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

The New Trend


Today, everything has changed. Globalization, the internationalization of markets and corporations, has changed the way modern corporations do business. To reach the economies of scale necessary to achieve the low costs, and thus the low prices, needed to be competitive, companies are now thinking of a global (worldwide) market instead of a national market. Instead of using one international division to manage everything outside the home country, large corporations are now using matrix structures in which product units are interwoven with country or regional units. International assignments are now considered key for anyone interested in reaching top management. As more industries become global, strategic management is becoming an increasingly important way to keep track of international developments and position the company for long term competitive advantage.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Entrepreneur


Most businesses start as a dream in somebody’s mind. An entrepreneur is a person with an idea. He or she also is someone with the energy and drive to turn that idea into a business. An entrepreneur needs these characteristics because in a young firm he or she must often do everything at once—manufacture the product, sell it, find enough money to keep going, and manage few employees.

The entrepreneur must be willing to take great risks, too, for most new businesses fail within a year. The odds against success are stiff, partly because many business ideas simply are not very good. After all, whoever wanted to buy paper dresses or quadraphonic sound. Factors that create special risks for new businesses are those over which entrepreneurs have little control. Also, technology has become highly complex and many new products—a filter to remove the salt from sea water, for example, require many years and teams of scientists and engineers to develop. Then, too, a vast array of government regulations creates additional burdens of time, energy, and expenses for owners of new businesses.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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