importance of human resource management in the organisation

importance of human resource management in the organisation?
i would like to know the importance of human resource management in the organisation ,
Corporations - 1 Answers

Random Answers, Critics, Comments, Opinions :
1
in a perfect competitive market & in the open market if you want to maximize your profit then you have to manage the human resource more technically. an example- suppose the market price of a product is $10 (you can't increase it as the market is perfectly competitive) your cost in total of that product is $8 then ur profit is $2 If u want to increase the profit then u can't increase the price providint the same quality but u can reduce the cost. there is a problem, you can't change the price of the rawmaterial, then you have to concentrate on your human resource so that they can produce & work more efficiently. human resource is the only living being where you can add more efficiency through effective and efficient management.