ENTREPRENEURSHIP

Detailed explanation-1: -Tony Groundy suggests Human Resource Strategy in itself may not be effective. HR Strategy (Human Resource Strategy) is a designation for a long-term plan created to achieve objectives in the field of human resource and human capital management and development in the organization.

Detailed explanation-2: -HR strategies set out what the organization intends to do about its human resource manage-ment policies and practices and how they should be integrated with the business strategy and each other. They are described by Dyer and Reeves (1995) as ‘internally consistent bundles of human resource practices’.

Detailed explanation-3: -The human resources field began to take shape in 19th century Europe. It was built on a simple idea by Robert Owen (1771–1858) and Charles Babbage (1791-1871) during the industrial revolution. These men concluded that people were crucial to the success of an organization.

Detailed explanation-4: -Kaplan and Hurd (2002) define that strategic human resource management is a collection of tasks and processes shared jointly by line managers and human resources to solve business issues based on people.

Detailed explanation-5: -According to the Invancevich and Glueck, ―HRM is concerned with the most effective use of people to achieve organizational and individual goals.