Professional Bodies
Professional bodies have a role to play in maintaining proper
internal environment. Chartered Accountants, doctors, lawyers etc.,
have professional bodies which regulate and maintain the dignity of their
profession. Erring members can be punished by the professional body
and they lay down rules and procedures for good conduct and ethics.
So also The National Institute of Personnel Management advices and
regulates HRM activities.
External Environment
Economic, political, technological and demographic factors have
a bearing on external environment. These forces have considerable
influence on HRM.
Economic Factors
Economic forces include growth rate and strategy, industrial
production, national and per capita income, money and capital markets,
competitions, industrial labour and globalization.
A sustained growth and higher GDP gives a lot of scope for
HRM in the search of talents and innovations. Higher the industrial
production, the more it unleashes its impact in various sectors giving
a lot of scope for HRM activities. Where money and capital are vibrant
and is in the increasing tempo, it may lead to higher investment and
activities leading to greater demand for human resources. Globalization
has opened new vistas where competitive edge and highest quality of
products and services are needed. This imminent need gives a lot of
scope for HRM activities.
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