In political economy, Organizational Management is that the method of distinguishing and beginning a brand new business venture, sourcing and organizing the desired resources, whereas taking each the risks and rewards related to the venture. After the World War 2, concern for economic development became all-pervasive. There was a growing concern for economic development and this lead to immense interest in entrepreneurship with primary target exploring sensible measures to reinforce the availability of entrepreneurs, i.e. persons ably and ability to initiate, nurture and expand industrial enterprises. This resulted within the belief in education and coaching to infuse and develop entrepreneurial capabilities in individuals in order that they may establish their own enterprises. Later programs directed towards this goal were conceptualized.
Entrepreneurship leads to new organizations or revitalize mature organizations in response to a perceived business chance. A brand new business started is named as a start-up company. In recent years, the term has been extended to incorporate social and political varieties of entrepreneurial activity. Organization management Journals helps us to learn the new techniques to manage a new organization or to develop a sick company in to a profitable company.
The traditional ways of competitive advantage have to be supplemented with organizational capability i.e. the firm's ability to manage people. Human Resource Information System is therefore a medium that helps HR professionals perform their job roles more effectively. Human resources information systems, or HRIS, are software systems managed by the company that purchased it, or by an outsourced agent or firm, to manage the employee informational database.
Last date updated on November, 2020