Human resource management constitutes of two major terms.
Therefore firstly it becomes necessary to understand these terms.
Concept of Human Resource
HR simply means people at work. An organization cannot exist without human resource. Organization can become successful by employing right number of people and right kind of people working at right place. Organization constitutes four important M's i.e. Men, Money, Materials and Machinery which are most significant resource of any organization. Men is the only living resource among all resources therefore it can also be considered as active factor of production. Human resource co-ordinates, collects and utilizes money, material and machines. Among all resources manpower is the only resource which does not depreciate with time and is called human resource.
For a nation human resource can be viewed as the knowledge, skills, creative abilities and talents of the nations population. For the organization human resource represents people working in that organization, it refers to knowledge, skills, creative abilities and talent of the employees.
Concept of Management
Management is a new discipline, it has drawn its concepts and principles from a number of disciplines such as, psychology, economics, sociology and anthropology, statistics etc. Therefore as a result of this contributors from different disciplines has treated management differently, for example economists considers it as factor of production, for sociologists management is class or group of persons and for practitioners it is a process comprising of different activities.