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Explain the Dimensions of the Business Environment and Their Relevance to Hrm

Explain the Dimensions of the Business Environment and Their Relevance to Hrm

  • Submitted By: MagadzaC
  • Date Submitted: 10/31/2013 8:18 AM
  • Category: Business
  • Words: 2265
  • Page: 10
  • Views: 99

Explain the dimensions of the business environment and their relevance to HRM
Business environment can be best understood as the combination of internal and external factors that influence a company’s operation situation. The business environment consists of the operational environment or immediate, for most firms it includes suppliers, competitors, labor markets, financial institutions, customers, trading organizations, trade unions and possibly a parent company. In contrast the general environment or the contextual comprises of those macro- environmental factors such as the political , economic , social , technological , ecological , legal (pestle) influences on businesses which affect a wide variety of businesses and which can emanate not only from local and national sources but also from international and supranational developments ( Worthington and Britton 2006 ). Due to the above mentioned complex , changing or dynamic organizational contexts that presents themselves in front of the human resources practitioners or even department managers , thus in order to address the human resources issues arising from these circumstances , human resources practitioners or managers have to understand these contexts part of the business environment and try to manage them by developing and implementing appropriate human resources strategies in the short medium and long term. Thus this presentation will focus on explaining the dimensions of the business environment and its relevance to human resource management.
Business environment is be defined by Dutoit etal (2010) as the world around a company which the company has no direct control of. The business environment also covers many different influences or dimensions impacting a company activities and performance. Marchington and Wilkinson (2008) define human resource management curtly as the management of employment. On the same note Mondy (1988) is of the view that human resource management involves a wide variety...

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