In Human Resource (HR) and management circles nowadays there is much talk about Strategic Human Resource Management and many expensive books can be seen on the shelves of bookshops. But what exactly is SHRM (Strategic Human Resource Development), what are its key features and how does it differ from traditional human resource management?SHRM or Strategic human resource management is a branch of Human resource management or HRM. It is a fairly new field, which has emerged out of the parent discipline of human resource management. Much of the early or so called traditional HRM literature treated the notion of strategy superficially, rather as a purely operational matter, the results of which cascade down throughout the organisation. There was a kind of unsaid division of territory between people-centred values of HR and harder business values where corporate strategies really belonged. HR practitioners felt uncomfortable in the war cabinet like atmosphere where corporate strategies … [Read more...] about What is Strategic Human Resource Management?
Journal of product innovation management
Knowledge is a philosophical concept defined by Plato as a belief supported by an account or an explanation (Blair, 2002). Under the context of knowledge-view of an organization, the definition suggests that knowledge comes from firm's increased ability to make use and sense of available information to create value for the shareholders (Leiponen, 2006). There has been a significant growth in the knowledge-based school of thought, which suggests that generating and retention of knowledge can have positive effects on the firm's performance (Di Mattia & Scott, 1999). To manage this intangible asset to leverage firms for benefits is considered to be its core capability. Knowledge management (KM) has been aimed at capturing, integrating and using existing organizational knowledge and consequently creating a knowledge asset that can be a source of sustained competitive advantage in the long run (Brooking, 1999; Havens & Knapp, 1999). The revolution in the KM came with the rise of … [Read more...] about How Important is Knowledge Management for Businesses?
Failures in project management systems can be superficially explained by anything from a lack of project detail to managerial conflicts. However, this failure often has deeper roots. Until we begin to recognize this uncontrollable factor it will be difficult to master the implementation of any management system. This factor is known as the "Chaos Theory" or simply "chaos". Chaos Theory could be considered a core management theory for the 21st century. According to Wheatley (1992) when management tries to control chaos by "shoehorning" it into a specific structure, an organization is bound to fail. Controlling chaos this rigidly is actually limiting information gathering (Stuart, 1995) and creating the illusion of management. According to McNamara (1999), Chaos Theory recognizes that events are rarely controlled. As systems such as those in management grow in complexity, the more they become volatile or susceptible to cataclysmic events.One way to plan for such chaos is through … [Read more...] about Chaos Theory: The Uncontrollable Factor in the Development of Management Systems
IntroductionWith increased globalization people have seen the need to increase wealth creation especially within the underdeveloped Third World. It has also become evident that neither the government nor the formal sector can supply the necessary job creation without a sustained effort and partnerships between all sectors of the economy. One means of creating work opportunities will be the development of entrepreneurial and innovative skills within the country. The creation of such job opportunities by encouraging entrepreneurial innovation has been well illustrated by Dana, Korot and Tovstiga (2005:12) in Silicon Valley, Israel, Singapore and the Netherlands. These authors report that in the narrow 35 mile by 10 mile corridor within Silicon Valley 6,500 technology enterprises are located. Singapore is home to almost 100,000 entrepreneurs and had a per capita GDP of US$42,948.00 during 2004 and an annual growth rate of 8.8% (Singapore Statistics, 2006).In addition higher education … [Read more...] about An Entrepreneurial Development Framework for Institutions of Higher Education
Introduction The vision of starting an enterprise is held by a lot of people; nevertheless, not many of them make it to have start-up, more so fewer start "promising" firms (Bhide, 2000). What is dissimilar in relation to those who begin promising companies? The response proposed here is an "entrepreneurial style" which comprises of cognitions and behaviours which had been put forwarded independently in entrepreneurship, management, and social cognition study as secluded predictors of individual success in challenging surroundings (e.g., risk, high uncertainty, urgency, inadequate personal resources and surprise threats and opportunities. However, many businesses that are started by different entrepreneurs fail due to different reasons. The question then is: why are numerous small start-up companies failing? With this study, we begin to detail this research project that aims at investigating the efficacy of small start-up business in various fields of commerce. In this study, we will … [Read more...] about Common sources of success or failure of start-up firms