HRM Strategic Approach
Human resource management (HRM) has evolved from traditional HR practices, in that it follows a more strategic approach. HRM is generally categorized into 5 categories:
1. Job planning and design
2. Recruitment and selection
3. Training and development
4. Employee performance and evaluation / Performance management
5. Compensation and rewards
If the HRM function is to positively contribute to the entrepreneurial strategy of an organization, it needs to reflect relevancy in the external environment, a long-term focus, and the encouragement of skills and the innovative behavior of employees that contributes to the achievement of the entrepreneurial strategy.
Discuss how each of the HRM functions noted above should be designed if they are to strategically contribute to an enhanced entrepreneurial intensity within the organization. Use popular known organizations as examples for each of your arguments.
Marks will be allocated in accordance with you ability to demonstrate that you can apply entrepreneurial concepts to the design of the organizational HRM function. In addition, your arguments need to be grounded in literature and illustrated by examples