HUMAN RESOURCE MANAGEMENT AND ITS SIGNIFICANCE IN THE PRESENT WORLD

Abstract

Before moving on to the topic we should first understand as to what commerce means , In order to better explain what commerce is, let us take the example of Mega Bakers, a baking shop that bakes and delivers bread and other products to their customers. Commerce for this company would be the process of exchanging its baked products for money. Commerce would also encompass the logistics of getting the raw materials to the bakery and of distributing the finished product to their customers .So what exactly is commerce? Well, it is described as the effective process of exchanging products or services using some monetary aspect as well as the logistical process of transforming raw materials into usable products or services. Commerce in the proper sense is said to occur if the scale of this exchange is large enough to include logistics and transportation of these products or services across various boundaries. In order for commerce to occur effectively, trade and industry have to take place together in a harmonious way. What exactly are trade and commerce, you may ask? Well, Trade within the context of commerce is the process of buying and selling goods and services through the use of some medium of exchange The use of scarce resources for satisfying human wants is very important. The allocation of available resources is done in such a way that optimum satisfaction is achieved.