Human Relations –The Greatest Asset

Human Resource Management

International Conference on "Innovative Management Practices"

Business involves a rich network of relationship. Relationship with customers, employees, suppliers, competitors, communities, government and environment. The relationships may be classical and contractual or may be formal or informal and enforced primarily by the need the parties have to go on doing business with each other. With the emergence of globalization the environment of business has changed and engendered complex set of relationships for the modern day business. To harmonize these complex sets of relations, modern day business must architect such relations which result in productive human capital and make business complex to simplex. It has become challenge for almost all business running corporations to transform themselves from complex set of relations to simplex and for this business must acknowledge, assure and ensure that intangibles ‘human relations’ are our greatest assets. Relations who result in human capital can be successful when we consider people as our greatest strength, harmonizing ethics with economics, building trust. "The most important, and indeed the truly unique, contribution of management in the 20th Century was the fiftyfold increase in the productivity of the manual worker in manufacturing. The most important contribution management needs to make in the 21st Century is similarly to increase the productivity of knowledge work and the knowledge worker." – Peter Drucker.

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