Business functions through an Organization.
Business NEEDS various resources to function and grow!
There are inanimate resources like land, capital, technology etc and there is just one animate resource.
This animate resource is Human Resource. This is the only resource that "converts" raw materials to finished good that may be sold and profits made. We say that the sum total of performance of the organization is the sum total of the performance of its human resources. The Organization may have everything but its human resource determines its capability to generate "surplus" which is the primary objective.
I am NOT undermining any other resource and its inevitability to business, but it is the Human Resource that helps the organization to deliver, fight competition, generate surplus, change strategies depending upon the situation and objectives. It is a resource that THINKS for the organization and makes it possible for the organizations to achieve its objectives.
It can make or mar the performance of the organization. Technological prowess, financial management, marketing skills, future of the organization, generating an effective response in any given situation depend on Human Resource. While all other resources may be effective, they will have to be performed by Human Resource only. Therefore Human Resource is in a position to not only give a competitive edge to the organization but without it (Human Resource) the organization can not even function or survive!
That is the significance of this resource to the organization.
Trust your have an answer.
November 25, 2010
25th November 2010 From India, Pune