What are the profit-making strategies

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Assignment: 1. It is very important for the Human Resource Management to transform into the greater strategic contributor from the strategies of being a primarily administrative and operational contributor. In the growing technological and innovative business field, it is very important to run a company with greater profit-making strategies. In order to withstand the competition in their own industry, every company follows its own strategies (Bianca, 2017). As a part of this, Human Resource Management professionals also transform to being strategic in their job to hire better persons for the benefit of the company.

In the initial phases of establishing a company or the business, it is very important to make sure it is administered and operated well. But once a company is established, it is highly important to withstand the heavy competition in its own industry (Ingram, n.d.). In order to have this strength of bearing immense force, every company needs to maintain some business strategies in the boundary of their outlined ethical guidelines. To implement these strategies well, it is very important for the business to have a good workforce to implement things effectively. In the process of hiring such employees or the resources for the company, human resource management plays a vital role and they transform from being administrative and operational primarily to a more strategic contributor.

Also, since the businesses are globally distributed today from the evolution of globalization, it has become the most important thing for HR management to be strategical (Wilkie, 2015). The strategies also change from place to place and situation to situation. The HR management should be highly adaptive in nature according to the situations and locations.

References: Bianca, A. (2017). Why Is It Important for HR Management to Be a Strategic Business Partner?

Ingram, D. (n.d.). Why Is it Important for HR Management to Transform From Administrative to Strategic Contributors?

Wilkie, D. (2015, June). Globalization Presents Complex Challenges for HR Managers.

Reference no: EM132303938

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