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Human Resources And Knowledge Essay

1080 words - 4 pages

This essay will consider the importance of human resources and knowledge within the organizing function of management. In addition, I will discuss how different organizations optimized these organizational resources, in various ways, for effectiveness and efficiency.Organization involves investing in "human capital, the most important asset inside of organizations today" (Carter, 2005, xi). Managers, especially at the highest level, must organize the tasks of their employees so they meet with current expectations of productivity and contribute to the goals of the overall planning that is constantly occurring. Tasks must be clearly defined, and yet managers must also allow for individual talent and creativity (which be necessity may create new "tasks" previously not considered) to come to the fore (Byrne, 1996, ¶6).Different companies may have contrasting priorities towards organizational leadership. Take two non-financial companies: Lockheed Martin concentrates on "candid and open communication . . . taking person action to unblock obstacles that prevent effective performance . . . acting when the need exists rather than ignoring issues" (Carter, 2005, xix). In contrast, McDonald's corporation, which is franchise-based rather than a traditional top-down corporate structure, stresses "developing a strategic perspective . . . gaining skills in insightful reasoning, problem solving, innovation and mental agility" (Carter, 2005, xix). Contrasting plans, but both concerned with enabling the 'thinking' and 'analytical' skills of management. Essentially, the modern business needs managers who can increasingly think on their feet and for themselves within a rapidly changing and complex environment. This is especially the case for financial institutions, businesses that exist within a highly competitive and permanently transforming economy.Within human resources the organizing function of managers involves "predicting the organization's future demands for people and for jobs" (Plunkett,1985, p. 268). Finding the right people and putting them in the right jobs is essential to keeping customers happy and profits healthy in a service-orientated financial institution such as a bank. An effective manager will see employees as human capital that needs to be attracted, motivated, developed and retained. A clear and strong organizational structure is an essential part of this process. Productive relationships, both within the company itself and with outside entities are a vital part of this human resource management. Managers need to see employees as individuals with concomitant unique needs and challenges, while also seeing the broader picture of a hierarchy of individuals that make up the overall institution.In a financial world that is constantly changing and uncertain knowledge management is one of the most important functions of management in a financial institution. The knowledge that a financial institution possesses is varied: from financial...

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