Question

Why do you think it is necessary to study human resource management? How are people a competitive advantage to an organization? What are the advantages of strategic planning? What role does a mission and a vision statement play in strategic planning?

Answer 1

Every organisation no matter how efficient it is and how much technology it uses needs to maintain good relations with the outer world as it helps them to sustain in the market and compete with it's rivals. It also requires good team as this team needs to be selected carefully taking every aspect into consideration. This task is done by the human resource team and it is also responsible for maintaining a good work environment and culture in the organisation . Hence it is necessary to study human resource management. Any organisation is built of people who are capable of running the organisation. Organisation with best employees always wins . Hence people are a competitive advantage to an organisation.

Strategic planning helps an organsiation plan it's activities with all the possible consequences so that everything will be prepared. Any risks can be handled and costs also will be reduced as there will be no wastage. The output also will be efficient . For proper planning, we need to know where we are heading to which means what is our goal . According to that goal we can guide our business through planning. Hence vision and mission statements help us as a guide to our planning as they tell us what we need and where we need to take our business.