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Interestingly, contemporary ideas about human resource management and developing human capital have their roots in early 20th century research findings and theories. Attracting, developing, and retaining talent may well be the most critical function of today's business leadership. Shifts in trends, and other external forces (market demand, legislation, demographic and psychographic changes, globalization, technological leaps), can affect the delicate balance of the organization and the knowledge that the organization’s internal stakeholders require, bringing some factors outside the control of the organization. How far, in your estimation, have we come in the past one hundred years in our ability to create and develop organizations that maximize human and organizational potential, in order to help the organization adapt and innovate? Considerations: Why do people work? Why do you work? How do managers and leaders within organizations restrict or optimize human resource energy as it relates to diversity, inclusion, and equity? How do the organization’s culture, the organization’s mission and strategic vision impact how human capital is valued? Consider other factors that impact many organizations such as globalization of the world’s economy, and the growth of technology.

Over the past one hundred years, numerous development had taken place including leadership, the concept of optimization – workforce and technology. The nature of engaging leadership has been demonstrated in the current course of development and the ability to support a developmental culture. Managers capable of considering the unpredictable cultural, or ethnic backgrounds of their workforce may improve partnership (Cascio, 2015). Understanding the high value of diversity, managers should consider contemplating what discerns employees (Cascio, 2015). 

The key to realizing a successful organization requires maintaining a culture based on a shared set of beliefs supported by strategy and structure (Ansoff, Kipley, Lewis, Helm-Stevens & Ansoff, 2019). Organizations having a strong culture is characterized by three things; employees knowing how top management expects them to respond to certain situations, and how employees will be rewarded for demonstrating the organization’s values.    

Human capital strategy affects all employees and managers within an organization based on the definition of roles, the corporate culture, and employee management processes. The new global economy in the current century has transformed the economic, and social landscape. It features a sequence of interactive forces including globalization, communications revolutions, and information technology. The functions and responsibilities of entrepreneurship in the current global economy have assumed the most significant engine of challenges. The current environment can be described as challenging characterized by diverse economic events (Passaris, 2015). The current economic growth and development have been preceded by a rather complex structural repositioning of investment streams and the clustering of business enterprises. Globalization has evolved and mutated over the years reflecting the priorities of various generations. The structural parameters of most national economies have been altered by the information technology revolution. Consequently, the transformation of the industrial age has led to the restructuring of the work environment. 

References 

Ansoff, H. I., Kipley, D., Lewis, A. O., Helm-Stevens, R., & Ansoff, R. (2019). Implanting strategic management. Springer.

Cascio, W. F. (2015). Managing human resources. McGraw-Hill.

Passaris, C. (2015). A New Financial Governance Model for the New Global Economy of the 21st Century. Prospects, 21(3), 239-241.

by EssayRoyal, Dec. 8, 2019, 7:08 p.m.

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