Management in 21st Century: Strategic Human Resource Management.


The changing nature of trade and finance has called for increasing competition. In order to beat the increasing completion successfully, the companies have been trying with various combinations that would keep them flexible and sustainable. The competitions have led to increased number of brainstorming sessions within the companies and greater collaboration in between various departments. N. J. Thrift has identified the situation as the fast subject as he says that with the advent of the newer business situations, challenges, and opportunities, the managers are now more dynamic and the series of ‘fast subjects’ have enacted. According to the scholar, there were many such remarks that were not noticed earlier but are now increasingly marked as well as objectified. The new way of doing business also meant that certain things or occurrences that were not visible in the earlier situations are now visible and are also operated on to get the extra benefits (Thrift, 2005). Human resource management has experienced paradigm shifts in the recent years. Even a few years back, human resource management was basically categorized as the function of a company that dealt with the recruitment and selection along with that of grievances handling. In fact, the job profile of an executive of the human resource department was perceived to be boring and monotonous. Human resource department was viewed by the majority of the industry to be redundant functions altogether. Overall, it was a cost unit for the corporate. But since the concept of human resource management has been transformed to strategic human resource management, the scheme of things took a sudden shift. In the present day, the human resource department is viewed as the department that can make positive impacts on the profits of the company.

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