In organizational studies, resource management is the efficient and effective development of an organization's resources when they are needed. Such resources may include financial resources, inventory, human skills, production resources, or information technology (IT) and natural resources.
Thus, since an organization’s productivity is tied to its ability to effectively and efficiently manage, there is a need for organizations to put effective resource management systems in place. Watch more about how to effectively manage organizational resources using a resource management software.
ORM Defined. As the shift to the word Organizational implies, ORM is an approach to guiding the entire entity to success. Some slight, but significant, modifications derive a basic definition of ORM as: A management system that makes optimum use of all available resources – equipment, procedures and people – to achieve organizational goals and enhance the efficiency and value of operations.
Organizational resources are all assets that a corporation has available to use in the production process. There are four basic types of organizational resources: human resources, capital resources, monetary resources and raw materials. Organizational resources are combined and used to create finished products.
Organizational Resource Management: Theories, Methodologies, and Applications - CRC Press Book. The management of organizational resources is extremely difficult. Managers face serious and complex challenges when managing the required resources for the benefit of their organization.
The field of Organizational Behavior/Human Resource Management (OB/HR) deals with the behavior of individuals and groups within organizations, and investigates the enhancement of the effectiveness of an organization’s human capital in order to gain competitive advantage and achieve organizational goals.
The greatest benefit of strategic human resource management is also its purpose: to improve organizational performance by integrating and aligning with business strategy. “Strategic human resource management is certainly a competitive advantage. In manufacturing firms, quality processes depend on stable HR systems.
Human resource managers are key strategic planners within an organization. From recruitment to retention, they manage the workforce to ensure the human capital is providing the best return on ...
These resources can include tangible resources such as goods and equipment, financial resources, and labor resources ... Dictionary Term of the Day Articles Subjects
Organizational Management Degree Jobs. A degree in organizational management can help you build the skills to create and lead teams and prepare you for management positions in business, education, government and nonprofit industries. Read on for information about a few career options related to a degree in organizational management.