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International Human Resource Management (Importance Ad Significance)

In: Business and Management

Submitted By AfrozaKhan
Words 3338
Pages 14
Table of Contents
Introduction 2
Differences between Domestic and International Human Resource Management 2
What is Expatriate 4
IHRM has three dimensions 4
International assignments create expatriates 5
Increasing Importance of International Human Resource Management 6
Significance of International Human Resource Management 9
Conclusion 11
Reference……. 12

Introduction
As we enter the new millennium, more and more companies are recognizing the importance of managing their human resources as effectively as possible. They are also recognizing that doing so, however, cannot be done without recognition and incorporation of the global context. It is virtually impossible to read a business periodical or newspaper anywhere in the world without seeing stories detailing the success of a company due to how effectively it manages its people. As the environment becomes more global, managing people also becomes more challenging, more unpredictable and uncertain and more subject to rapid change and surprise. Thus what we are witnessing within human resource management (HRM) is the rapid appreciation for and development of all aspects of global and international activities and issues associated with and affected by HRM. And because the importance of managing people effectively in the global context is so great, many companies are devoting a great deal more time, attention, skill, and effort into doing it well. To be successful, many firms have to compete on the global playing field because the costs associated with the development and marketing of new products are too great to be amortized only over one market, even a large one such as the USA or Europe. Knowledge of conditions in a variety of countries and knowledge of how to manage both within and across them is the essence of international HRM.
Differences between Domestic and...

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