The importance of managing knowledge and intellectual assets as increasing organization value is management of human resources. Human resource (HR) practices have greater impact organization productivity. Managing human resources means integrating decisions about people with decisions about the results an organization is trying to obtain [2]. By integrating human resources management (HRM) into the agency planning process, emphasizing human resources activities that support broad agency mission goals, and building a strong relationship between HR and management, agencies are able to ensure that the management of human resources contributes to mission accomplishment and that managers are held accountable for their HRM decisions. This is especially important push to align all agency activities, including HRM, toward achieving defined agency strategic goals and mission.
Financial management is importance to provide the necessary financial resources to enable the agency safer, and to ensure a high standard in the management of finances. Finance and financial management encompass numerous business and governmental activities. In today's business environment, corporate finance addresses issues relating to individual firms. Specifically, the field of corporate finance seeks to determine the optimal investments that firms should make, the best methods of paying for those investments, and the best ways of managing daily financial activities to ensure that firms have adequate cash flow. Financial management influences all segments of corporate activity,. Through the acquisition of funds, the allocation of resources, and the tracking of financial performance, financial management provides a vital function for any organization's activities.
In today's economy, the speed of information access or delivery often spells the difference between success and failure. Information is often locked up in multiple systems, making it hard for users to access the data they need when they need it. To unlock this information, organizations should consider using Information and Technology that incorporate business process. With IT achieved business information by query data across multiple departments: warehouses, operational, web, and external data sources in real time. The value of information changes with the timeless of its deliver to decision makers. Most organizations deliver report that summarize past activity. This historical helps managers and executives understand the effectiveness prior strategies, plans and initiative and also identify emerging patterns and trends that could affect future plans. While historical information is critical, it doesn’t help organizations identify problems or opportunities as they occur, or take immediate action to optimize the results. With the pace of business quickening, company can’t always afford to wait until the next day, next week, next month to review progress. They need more timely information to monitor, manage, and optimize operational processes that affect button line results. Despite the important of data and information as an asset and a resource in providing competitive advantage and sustaining their success [3].
By integrating and consideration the human resource, people and information and technology management in the business strategy is importance to enable long run of successes business operation.
Reference:
- Introduction to business strategy : a strategic management approach /Tony Morden:
- Aligning human resources and business strategy / Linda Holbeche
- Porter, M.E. (1985) Competitive Advantage: Creating and Sustaining Superior Performance.
