The direction of the economy is truly challenging ahead. As we evolve gracefully from new economy to k-economy, business leaders have recognised the dependence on how fast an organisation, can align itself to the general and task influence PEST-I (ie. Politics, Economy, Social, Technology and Internationalisation) environment in determining corporate survival. Either evolve with the economic perspective or be extinct. And Given the continual changes in the environment, businesses must be built around these turbulent conditions. Thus, a pivotal success factor for companies adapting to these changes begins within, the need for a strategic Human Resource (HR) department.
Feedbacks from CEOs of US based companies interviewed by HR Magazine (Leonard 1998) have reinforced the importance and the strategic role of HR Management (HRM). Continue reading