International Business Environments & Operations by Daniels Summary of Chapter 2

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8th March, Friday 2013

A Study on Human Resource Management Practices in KSRM Steel Plant Limited. Md. Sazzad Bin Rashid
Roll no: 296, 11th batch(9th)
2nd Semister, EMBA for Engineers,USTC.

Abstract

Human resource management practices are now considered as one of the key contributing factors to the success of an organization. The organizations are putting increased emphasis on the policies and practices of HRM to gain competitive advantage. Throughout the whole case study several HRM practices related to the supply chain department of Square Pharmaceuticals Ltd. are discussed. These HRM practices include human resource planning, recruitment,induction,training,performance,employee,development,compensation plan etc. This discussion has provided the opportunity to analyze the HRM practices of a business organization and to find out the facts which are creating barriers to effective HRM. In the last part of this paper some recommendations are provided for KSRM to gain competitive advantages through HRM practices.

Introduction

Human Resource Management (HRM) is a relatively new concept in Bangladesh. It was few years ago that this was considered as a part of the administrative functions of an organization. There was no individual identity for HRM. But as time passed people recognized the importance of HRM in organizations. They realized that HRM is not just to hire people. Apart form hiring, HRM has lots of functions which help an organization to gain competitive advantage. Effective HRM practices support business goals and objectives. That is why effective HRM practices are strategic. It can improve the performance of an organization by improving customer satisfaction, innovation and productivity. So from HR planning, recruitment and selection to training, performance appraisal, compensation, all practices of HRM are now considered as equally important as any other aspects of the organization such as marketing, financing, etc.

KSRM Steel Plant Limited---Company Overview:

KSRM is a unit of well known Kabir Group of Industries with the experience of 28 years exclusively in steel making. by its service of accurate weight, consistent quality and timely supply of products to the customers, KSRM has been able to gain the unprecedented trust of people. Such faith of the clients has encouraged KSRM to step forward contributing to the production of high standard steel.

KSRM is now producing and supplying international standard deformed bar Grade 500W all over the country. The fully automated POMINI is able to produce 4,000,000 tons per year from prime quality billets. Vision: view business as a means to the material and social well being of the invest- ors.employees and society at large, leading to accretion of wealth through financial, moral gains as a part of the process of human civilization.

Mission: mission is to produce and provide quality Steel for people, maintain stringently ethical standards in business operation and also ensuring benefit to the shareholders, stakeholders and society at large.

Objectives: objectives are to conduct transparent business operations based on the market mechanism within the legal and social framework with aims to attain the mission reflected by [their] vision.

Human Resource Planning

The human resource planning process starts with a forecast of the people needed for the company and consists of goal setting and strategic planning and program implementation and evaluation. In the following part of the report we will discuss human resource planning in KSRM Steel Plant Limited.

Human Resource Plan and Forecasting

The HR department prepares the plan at the end of the year. It collects the information from all the departments of the company about how many people they will need in the next year. The entire department's heads send the requisition with detailed information about what kind of person they need for their departments. Thus...
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