BMM3113: Business Resource Management - A Comprehensive Review

This literature review delves into the critical aspects of managing resources within a business environment, emphasizing the significance of Human Resource Management (HRM) practices. It covers various facets of HRM, including employee hiring, retention, performance management, and t...Read More

MANAGING RESOURCE IN
A BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................3
Literature review .............................................................................................................................3
CONCLUSION................................................................................................................................6
Recommendations ...........................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Managing a resource in business is the process by business by managing the business
resource in a proper direction. The managing resource of business includes allocation of people,
finance, scheduling of time, materials. Good resource management means utilizing best
resources by using the business resource effectively and efficiently. Resource is an essential part
of business for achieve its goal, resources are staff, physical space, finances, equipment, time and
technology.
Aim and Objective of Managing Resources of a Business
Aims and objective of managing resource of business is improving the profitability of
projects, scheduling the required resources, informing higher decisions, using resources
effectively, understand the best utilized and limited resources (Chams and García-Blandón,
2019).
Literature review
Human Resource Management is defined as, the management of peoples by a business in
the systematic and in right directions is defined as management. According to “Prachi Juneja”,
Resource management includes hiring of people, retention of employees, payroll slips,
performance management and taking care of round off activities to exit from a company.
Managing of resources is also described as the managing the people in the organisation at a
broader prospective which includes management of people in collection of relationship between
organisation management and people (Vossaert and et.al., 2022). This approach focus on
objectives of resource management of people. The management of people are the most important
part of the business in the present world.
Importance of management resource of a business is described as, it is a practice of
HRM to identify throughout all the strategies and goals of organizations. The practice of
management of business is identified in five terms. The five terms include communication of
people, strategic planning, management style, leading example, setting of goals. Organization
may lose if it does not utilize its resources fully in effective manner, thus the organization will
not able to succeed.
Scope of Resource management is extensive and it is wider term. Thus, the scope of
resource management were as follows:

Personnel Resource Management- It deals with the direct individual management which
includes the process planning and hiring of people, training and development and transfer of
individual, compensation, layoff, employment productivity of manpower. The objectives are to
identify individual growth, development and effectiveness of work of an employee contributing
to organizational goals. The performance and appraisal of employees, emerging new skills and
providing incentives, allowances, travelling policies, and other facilities and actions were also
included.
Welfare of an employee- This aspect includes in a wide area of roles and responsibilities
and services like health service, providing safety service, social welfare security, medical
facilites and welfare funds. It includes appointment of safety workers, making a good working
environment, job safety, cleanliness, safeguard machinery, personal and employment journey
benefits, unemployment benefits, maternity benefits.
Industrial Relations- Industrial relation in resource management is defined as the
organization interaction with employees, identifying their grievance and settlement of threats of
employees timely in a manner to maintain peace and harmony in the organizations. It is also
stated that understanding the employment is the art and science of organization. The
understanding of human behaviour and maintaining work relations, collective bargaining and
settlement of disputes. This states to establishing, promoting, growth of industrial democracy to
protect interest of both the management and the employees.
According to Ngo-Henha, P.E., (2018), it describes as, focusing on the current challenges
faced in the economy should also take into considerations by resource management of business
to achieve its goals. The value on how human resource management tackles the day to day
activities and the challenges which were faced like short fall or talented employees. As per
Tripathi (2008), it explains that the organization should have the optimum usage of a Human
resource in organization. This study was made in Indian and multi national companies which
explain the benefits of organization by human resource management. It follows three concepts
which are Competencies, culture and commitment and states that following this culture in a
working organization helps an organization to gave positive results to achieve goals. This
practice is considered as the best practice in result in increasing the financial growth.
According to Kwon and Kim, (2020), it defines resource management as the recruiting
and selection of people are the process of a business by choosing the right employee for the right

profile provides the employee to work in a business in effective manner. The process of
interview of a candidate in organization which fulfil the objectives of job profile of an individual
candidate takes interest in the job. Boon, Den Hartog and Lepak, (2019), describes managing of
resource as management of people include all the decisions and practice of management which
attract and retains an employee of the business. Whereas Daud (2006) defines management of
people as a policy, system and practices of people which make difference of people in their work
in the business. The management of human resource is considered as the most important factors
that helps the organization to achieve its objectives and goals in a competitive market. This is
because managers in both private and public organization considered human resource
management as the main source of organization, as resource management is the best system for
selecting, recruiting, motivating and efficiently managing the people, according to Macke, J. and
Genari, D., (2019).
Kwon, K. and Kim, T., (2020), conducted a survey on the Human Resource states that the
core hypothesis underlying the HR systems research is defined as the affectivity of human
practice initially depending on the practices of other functions in the system. When the practice
is suitable into a rational function, it teaches individual by developing a better teamwork and
outcome for the system. But when these activities do not cooperate with beach other, it may
result into complexity. The HR activities should not be studied separately as a management but
rather it should be a combined study of the other functions that correlate and influence the HR
practices. This way an exact detail of the HR may be evaluated along with the impact it has in
the system. For example, additional relationship anticipate that the HR activities have an
independent attracts and influence people. Whereas the attracting relationship is the potency of
the HR activities follows on the existence and quality with other activities. Objectives include
illustrate and carry the positive and negative cooperation within the system.
Cooke, F.L., (2018), noted that the human resource practices may not always be of the
same level and effectiveness. Some HR practices are better and more effective and those
organizations that are struggling with their HR management should adopt these successful
strategies for reinforcing their functions. Through this approach the experts of the field should
explore the relationship between the HR duties and the organizational performance indicant and
systematically arrange and classify the issues regarding. He argued that the effective use of the
HRM may result as a positive result for the organizations and adoption of better HR practices

may prove to be a turning point for improving the organizational performance. It also notes that
the success of the HR management is dependent on the performance of other aspects of the
organization and its relation with the resource management. It is a contingency point of view for
resource management practices and performance.
In the view of Macke, J. and Genari, D., (2019), successful organizations are those that
value the human resources and develop their skills and foster their talents to help them become
more efficient in life along with using their potential in meeting the organizational goals and
objectives. A good HRM always try to bring out the best for the organization by creating a
compatible work environment for the employees where they exercise their creativities, improve
skills and experience a great job satisfaction. The HRM acts as a big responsibility in the
sustainable developing of the organization due to the practices duties they are aligned with.
These duties are identifying and selecting the best candidates for the company that have a
positive attitude, desire of success, posses necessary qualifications and the tendency of team
work and coordination that may result in the enhancement of the organizational performance.
CONCLUSION
It has been concluded from the above reviews that the HR management practices play an
important and major role in success of the business performance. There is a function that requires
a lot of learning process to keep updated with the current demands of the organizations and
coordinate between the employees and the organization. The HR management is one of the most
demanding practices and requires a lot of patience and experience to carry out these activities to
achieve the desired objective and a constant need of improvement is always required.
Recommendations
Internet has become a necessary part of life and approaching the HR practices and
interacting through digital media may be a great choice in carrying out the HR duties more
conveniently and effectively are increase the network of the organization and reach bigger
audience.

REFERENCES
Books and journals
Boon, C., Den Hartog, D.N. and Lepak, D.P., 2019. A systematic review of human resource
management systems and their measurement. Journal of management, 45(6). pp.2498-
2537.
Chams, N. and García-Blandón, J., 2019. On the importance of sustainable human resource
management for the adoption of sustainable development goals. Resources,
Conservation and Recycling, 141. pp.109-122.
Cooke, F.L., 2018. Concepts, contexts, and mindsets: Putting human resource management
research in perspectives. Human Resource Management Journal, 28(1). pp.1-13.
Kreismann, D. and Talaulicar, T., 2021. Business ethics training in human resource
development: A literature review. Human Resource Development Review, 20(1). pp.68-
105.
Kwon, K. and Kim, T., 2020. An integrative literature review of employee engagement and
innovative behavior: Revisiting the JD-R model. Human Resource Management
Review, 30(2). p.100704.
Lee, J.Y. and Lee, Y., 2018. Job crafting and performance: Literature review and implications
for human resource development. Human Resource Development Review, 17(3).
pp.277-313.
Macke, J. and Genari, D., 2019. Systematic literature review on sustainable human resource
management. Journal of cleaner production, 208. pp.806-815.
Ngo-Henha, P.E., 2018. A review of existing turnover intention theories. International Journal of
Economics and Management Engineering, 11(11). pp.2760-2767.
Vossaert, L. and et.al., 2022. ‘There’s Many a Slip “Twixt the Cup and the Lip”’: HR
Management Practices and Firm Performance. Journal of Management Studies, 59(3).
pp.660-694.

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