Partnership
A joint business, within or outside the organization
Plans
Proper plans of action, translated to business policies
Product
The product should be innovative, qualitative and cost-ef-
fective
Principles
Set of values, culture and philosophy
People
Challenging, ethical, committed, high performance, self-
driven
Performance-
Output of the organization, results in terms of both quantity
and quality
HRM is now a strategically important area of corporate
governance, which indicates that HRD policies need to be integrated
into the overall policies of the organizations. To be precise, it is a cyclic
process of developing mission, vision and business plan through people,
and translating those to action through policies, ensuring results and
redefining the objectives again. HR is no more a support service but it is
the partner in the organizational strategic function.
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