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The Changing Role of Human Resource Management

Describe the changing role of Human Resource (HR) management in response to trends in globalization, technology, diversity, e-business, and ethics.

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The coming of globalization poses distinctive Human Resource management or HRM challenges to businesses, especially those operating across national boundaries as multinational or global enterprises. Global business is characterized by the free flow of human and financial resources. These developments are opening up new markets in a way that has never been seen before. This accentuates the need to manage human resources effectively to gain competitive advantage in the global market place. To achieve this, organizations require an understanding of the factors that can determine the effectiveness of various HR practices and approaches. This is because countries differ along a number of dimensions that influence the attractiveness of Direct Foreign Investments in each country. These differences determine the economic viability of building an operation in a foreign country and they have a particularly strong impact on HRM in that operation. A number of factors that affect HRM in global markets are identified: (1) Culture (2) Economic System (3) Political System - the legal framework and (4) Human capital ...

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