Managerial Economics Managerial Economics Managerial Economics can be defined as amalgamation of economic theory with business practices so as to ease decision-making and future planning by management.
I June Omanization: First, the paper discussess an overview of the human resource management practices in the Gulf Cooperation Council GCC countries and the emerging economies of East Asia.
Finally, the author recommends an integrated and holistic three tier strategic framework for human resource management and training in the Sultanate of Oman.
Introduction A sustainable economic advantage stems from a country's resources- human, financial and natural resources. The key strategic means of gaining competitive advantage include natural resources, financial-cutting overhead and costs, Training human resource management and economic and technological capabilities.
Undoubtedly, these dynamic means have always been successful in developing a "niche or competitive-edge". Nonetheless, until recently, the nation's ability to manage human resources to gain a competitive advantage has been undermined Barney, ; Porter, Many businesses have treated human resource as a commodity and individuals as dispensable.
Shortsighted managers seeking quick profits fail to realize that the only enduring competitive advantage is a well trained, competent and highly motivated human resource willing to work as a team to accomplish organizational objectives efficiently. Hence, the era of merely neglecting workers is ending as more companies come to grips with the fact that productivity, innovation, technology and growth depends on a skilled, competent and motivated workforce Aryee, ; Barney, These attributes which constitute human resource assets integral to competitive advantage are not inherited but are, instead, developed and nurtured within the nation.
The thesis of this paper promotes the conviction that economic success is achieved through an educated, trained and skilled human resource.
This paper addresses the issue of Human Resource Management HRM and training with particular emphasis on Omanization replacement of foreign 'expatriate' workers with Omani nationals in the Sultanate of Oman.
Researchers attribute this predicament to several factors including a lack of strategic human resource management planning and coordination between the government and the private sector Al-Lamki, ; Al-Maskery, ; Eickleman, ; Birks and Sinclair, This paper aims to address this predicament by recommending an integrated and holistic three tier strategic framework for human resource management and training in the Sultanate of Oman.
An Overview A fundamental pre-requisite to economic development and growth is the availability of skilled and competent labour.
In a period of increasing economic integration and globalization labour mobility has been an integral phenomenon Stalker, Among the emerging Southeast Asian economies, Singapore and Malaysia have experienced robust and sustained economic growth with considerable reliance on foreign labour Ruppert, ; Wong, ; Aryee, Although Singapore and Malaysia have a relatively smaller ratio of foreign employment compared to the GCC countries, they nevertheless play host to large numbers of expatriates in their workforce.
Foreign workers 'expatriates' make up approximately 20 to 25 percent of Singapore and Malaysia's labour force, respectively Wong, Similar to the GCC countries, the growing presence of foreign workers in Singapore and Malaysia can be explained by excess demand for labour associated with rapid economic growth, as well as the relatively cheaper cost of foreign labour.
This is attributable to the willingness of foreigners to accept lower wages and generally tolerate poorer working conditions and physically demanding jobs Ruppert, ; Wong, ; Aryee, Singapore and Malaysia manage their large expatriate population through a complex and tightly regulated immigration policy in the form of work permits and variable levy fees.
In order to curb the influx of foreign labour and encourage the employment of nationals, the system of variable permits and fees effectively raises the cost of foreign labour.
This is particularly the case for the unskilled and less skilled labour.
Higher levies apply to these categories as a measure towards discouraging over-dependency on cheap, unskilled foreign labour RuppertAyree, On the other hand, these dynamic nations addressed the issue of indigenization of the workforce through robust and well planned human resource development programmes.
This was carried in line with the economic requirements and needs for requisite skills and competency.The Importance of Human Capital for Economic Growth Florian Schütt Andreas Knorr, Alfons Lemper, Axel Sell, Karl Wohlmuth (Hrsg.): Materialien des Wissenschaftsschwerpunktes „Globalisierung der.
Jul 27, · Another case study that illustrates the importance of human resources management to the health care system is that of The University of Nebraska Medical Center in training, level of economic development, geography, cultural factors) and they are currently each other's largest trading partners.
The various functions of. The following course in Human Resource Management is provided in its entirety by Atlantic International University's "Open Access Initiative" which strives to make knowledge and education readily available to those seeking advancement regardless of their socio-economic situation, location or other previously limiting factors.
This paper examines the relationship between human resource practices, operational outcomes, and economic performance in call centers. The study draws on a sample of 64 call centers serving the mass market in a large telecommunications services company.
Surveys of 1, employees in the 64 centers were aggregated to the call center level and matched to archival data on service process quality. Human Resource Management has four basic functions: staffing, training and development, motivation and maintenance.
Staffing is the recruitment and selection of potential employees, done through interviewing, applications, networking, etc. Training and development is the next step in a continuous process of training and developing competent and.
How to Measure Human Resource Management (3rd Edition) [Jac Fitz-enz, Barbara Davison] on regardbouddhiste.com *FREE* shipping on qualifying offers. Is it cost-effective to add staff in a given area? Does a training program have a positive impacton costs and sales? In .