Notes and Summaries for Fundamentals of Management || 1

Notes on Human Resources Management

– The set of organizational activities directed at attracting, developing, and maintaining an effective work force.

• The Strategic Importance of HRM

– Firms have come to realize the value of their human resources in improving productivity.
– HRM is critical to bottom-line performance of the firm.
– HR planning is part of the strategic planning process.

Overview of Management and Organisation

What Is an Organization?

• A group of people working together in a structured and coordinated fashion to achieve a set of goals.
• A social unit in which two or more people interact to achieve common goal or a set of goals.
• Collection of people working together in a division of labor to achieve a common purpose

Communication Notes and Summaries

Meaning of Communication

Process or medium of exchanging information idea knowledge and emotion from one party from another (i.e. senders to receiver) with specific objective.

Physical flow of information in such a way that the message designed and intend by the sender is received and understood by the receiver with same objective and meaning. Communication is the heart of organization which links people together through expression of emotional meaning. If also refers to the flow of information and understanding between sender and receiver so communication is the complete process of encoding message by sender drafting through the channel decoding by the receiver and responding to the sender.