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    Human Resource Management and Forms of Business

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    1. Explain your understanding of the human resource management challenges and how to be prepared to effectively manage those challenges.

    2. Detail to recognize that people differ and how to understand how these differences impact their intentions and abilities to grow a business.

    3. Describe how you understand how joint ventures can help an entrepreneur grow his or her business and acknowledge the challenges of finding, and maintaining, an effective joint venture relationship.

    4. Detail how your understanding of how franchising, from the perspective of both the entrepreneur looking to reduce the risk of new entry and the entrepreneur looking for a way to grow his or her business, works.

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    Solution Preview

    1. The main challenges for HR today are change management, compensation management, leadership development, HR effectiveness management, and organizational effectiveness. An organization has to change to accept challenges of a dynamic business environment. These changes require regular organizational changes. The HR must develop effective leaders in the organization. These leaders provide direction, decision making, and inspiration to the entire organization. HR must invest in the best employees so that leaders are developed. HR must develop metrics that measure the effectiveness of HR and enable the organization to see the progress of the company. HR must increase organizational effectiveness by developing a culture of collaboration. Synergies among employees must be struck so that the performance of the organization improves.

    2. People differ because their ...

    Solution Summary

    The answer to this problem explains issues related to human resource management and forms of business. The references related to the answer are also included.