Search results
Results from the Tech24 Deals Content Network
Trade. Business and economics portal. v. t. e. Human resources ( HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. [ 1][ 2] A narrower concept is human capital, the knowledge and skills which the individuals command. [ 3] Similar terms include manpower, labor, labor-power, or personnel .
t. e. Human capital or human assets is a concept used by economists to designate personal attributes considered useful in the production process. It encompasses employee knowledge, skills, know-how, good health, and education. [ 1] Human capital has a substantial impact on individual earnings. [ 2]
Business and economics portal. v. t. e. Human resource management (HRM) is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic ...
In his Essay on the Nature and Significance of Economic Science, he proposed a definition of economics as a study of human behaviour, subject to and constrained by scarcity, [d] which forces people to choose, allocate scarce resources to competing ends, and economise (seeking the greatest welfare while avoiding the wasting of scarce resources ...
In economics, labor or human resources refers to the human work in the production of goods and rendering of services. Human resources can be defined in terms of skills, energy, talent, abilities, or knowledge. [4] In a project management context, human resources are those employees responsible for undertaking the activities defined in the ...
The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function. There are four basic resources or factors of production: land, labour, capital and entrepreneur (or enterprise). [ 1] The factors are also frequently labeled " producer goods or services " to distinguish them ...
Economics. Personnel economics has been defined as "the application of economic and mathematical approaches and econometric and statistical methods to traditional questions in human resources management". [1] It is an area of applied micro labor economics, but there are a few key distinctions.
Labour economics, or labor economics, seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers, usually in exchange for a wage paid by demanding firms. [ 1][ 2] Because these labourers exist as parts of a social, institutional, or political system, labour economics must ...