The importance of human resource management for the success of the company

Abstract

The paper first briefly presents the environment and challenges the companies will encounter in the forthcoming decade. Further, the author investigates challenges which will impact the implementation of human resource management. As there exists a two-way link between the companies and the environment, this contribution also illustrates the link into the other direction, and shows how the competitive advantage for the individual company can be gained by effective human resource management.

Keywords

• Human Resource Management
• business environment
• competitive advantage