Challenges Before Hrm in Globalisation.

A

HRM Assignment

on

“Challenges before Human Resource Management in the present time of Globalization”

Submitted to;

Dr. R K Lodhwal

Prepared by;

Shivam Srivastava

Roll No. 38

MBA 2nd semester.

FMS BHU

INTRODUCTION

As we enter a new millennium, the effects of internationalization now known as globalization are everywhere apparent. This has played a major role in sustaining the economic expansion of the global economy in the second half of the 20thcentury. Globalization is seemingly shrinking the planet as barriers to trade are dismantled, transport and communications costs fall, and global production systems are formed and managed by giant multinational corporations.

Globalization can be defined as the ongoing economic, technological, social, and political integration of the world that began after the Second World War. There are several dimensions to this dynamic process, including the increased internationalization of economic markets as reflected, for example, in trade and financial capital flows. The primary objective of this paper is to present a conceptual framework for strategic management of human resources as a response to the growing interaction of globalization and business performance. The rapid integration of the world economy through increased trade and investment, which has been fueled by new technologies, the spread of information and the growing importance of knowledge-based industries, provides the potential for opening up new avenues for human development.

Three central arguments made in this article are:

1. That a great deal of evidence has accrued to suggest that changes taking place in the global business environment often are not accompanied by complementary changes in human resource management practices leading to a situation whereby the failure of some firms is due to the mismanagement of people rather than to problems with technical systems.

2. This is because...