BCOMNOTES

UNIVERSITY OF DELHI / SCHOOL OF OPEN LEARNING  B.Com. (Programme) / B.Com. (Hons.) HUMAN RESOURCE MANAGEMENT N.O.T.E.S   UNIT - 1 LESSON 1:  CONCEPTUAL FRAMEWORK OF HRM INTRODUCTION :  - India is considered an emerging economy and a global outsourcing hub. - Indian companies have been actively engaged in mergers and acquisitions globally. - Indian firms purchased 34 foreign companies in the first four months of 1997, amounting to approximately $11 billion. - India's economic growth has been attributed to factors such as increased inputs (capital and labor) and factor productivity. - According to Morgan and Stanley, India is projected to become the world's third-largest economy by 2027 and have the third-largest stock market by 2030. - To achieve successful production processes, industries require four key elements: Machine, Money, Material, and Men. - Human resources play a crucial role in coordinating and utilizing the other elements effectively. - Effective human r...

UNIVERSITY OF DELHI / SCHOOL OF OPEN LEARNING  B.Com. (Programme) / B.Com. (Hons.) HUMAN RESOURCE MANAGEMENT N.O.T.E.S   UNIT - 1 LESSON 2:  INTRODUCTION TO HUMAN RESOURCE  MANAGEMENT INTRODUCTION :  - Managing a diverse workforce in a company has always been challenging. - HR management difficulties have increased due to rapid technological advancements and frequent software changes. - Ensuring work-life balance and managing virtual organizations are additional challenges. - The main challenge of HRM is to effectively utilize time, money, and resources to create an efficient HR management system. - The chapter focuses on emerging challenges in HRM, including workplace diversity, employee empowerment, downsizing, voluntary retirement schemes (VRS), and work-life balance   DIVERSITY AT WORKPLACE :     Meaning of Workplace Diversity  - Workplace diversity, which involves recruiting, training, and valuing individuals from different backgrou...