Human Resource
The importance of Human resource
Assignment 1
Human resource is the set of individuals who make up the workforce of an organization and crucial for the success of the organization. Human resource is the most valuable asset to any organization and huge investment is made for the development to enhance the value. Organizations are comprised of three types of major assets that are needful to an organization’s ability to produce goods and services, namely, Financial assets, Physical assets and Intangible assets. Intangible assets include intellectual capital (product patents, product designs, and process technology), goodwill, and human capital or human resource1. There are many terms for the human resource such as "human capital", "manpower", "labor", "talent", or simply "people". None of the organization can survive without having the right human resource in long run. Although the advance equipments, new technologies, good marketing strategies, excellent customer services and many other elements can be the factors to build up for the advantages, human resource is still the most important element to determining the success or failure of an organization. Without their supports, the organization's daily business function will not be carried out well and ready. Human resource is always related to an organization profitability and their abilities cannot be replaced by machines. Human resource is the most valuable asset to any organization and huge investment is made for the development to enhance the value.
The aim of any organization or business is to make a profit. There are ten reasons why profit comes from people2:
1. World-class employees live excellence
2. Happy employees mean happy customers
3. Empowerment is essential for successful change
4. Empowerment can happen only with effective leadership and fulfilment
5. Creativity and innovation are vital to competitive advantage
6. Organizations will not learn unless their people do
7. Brainpower pays and
Assignment 1
Human resource is the set of individuals who make up the workforce of an organization and crucial for the success of the organization. Human resource is the most valuable asset to any organization and huge investment is made for the development to enhance the value. Organizations are comprised of three types of major assets that are needful to an organization’s ability to produce goods and services, namely, Financial assets, Physical assets and Intangible assets. Intangible assets include intellectual capital (product patents, product designs, and process technology), goodwill, and human capital or human resource1. There are many terms for the human resource such as "human capital", "manpower", "labor", "talent", or simply "people". None of the organization can survive without having the right human resource in long run. Although the advance equipments, new technologies, good marketing strategies, excellent customer services and many other elements can be the factors to build up for the advantages, human resource is still the most important element to determining the success or failure of an organization. Without their supports, the organization's daily business function will not be carried out well and ready. Human resource is always related to an organization profitability and their abilities cannot be replaced by machines. Human resource is the most valuable asset to any organization and huge investment is made for the development to enhance the value.
The aim of any organization or business is to make a profit. There are ten reasons why profit comes from people2:
1. World-class employees live excellence
2. Happy employees mean happy customers
3. Empowerment is essential for successful change
4. Empowerment can happen only with effective leadership and fulfilment
5. Creativity and innovation are vital to competitive advantage
6. Organizations will not learn unless their people do
7. Brainpower pays and