Finance assignment Case Study Example | Topics and Well Written Essays - 1500 words

Finance assignment - Case Study ExampleOften times, the human resource management (HRM) division is considered inferior to other plane sections like finance and marketing, as it does not contribute to the revenue generation of the organization directly (Davis, 2011). This paper focuses on the monetary boldness of the human resource management as it discusses its importance in the organization. It highlights the fact that HRM department is wrongly underrated, because it also contributes to the revenue of the firm. In this study, the case of John Lewis fusion has been highlighted to point out the financial importance of the HRM in an organization.The human resource management (HRM) is described simply as proper allocation of human superior in the right time and in right place. By the proper allocation of the work force in all the departments, an organization is able to enlarge the overall efficiency of the firm (Lundy, 2008). The increased efficiency eventually leads to higher r evenue generation and avoids resource wastage by inefficient usage. Thus it is clear that the financial importance of the HRM lies in the efficient use of human resources in such a manner that the financial investment made in the HR department gives proper return. The return on investment of the HR department is determined by the financial output of all the other departments and the organizational output as a whole (Price, 2011).According to Woods (2012) John Lewis partnership (JLP), unlike any other retail firm, is run by the employees who pose as the partners of the task operation. The management is run by a trust which operates on behalf of the employees. JLP has put the HR department in the in the centre of the management decision making. The HR department is prioritized so much that Andy Street, one of the personnel director made his way to the position of Managing Director (Cunliffe and Craik, 2014). The concept of partnership allows the employees or partners to enjoy benefit s from the