When human civilization was in the necessent stage, people were used to consume natural resources surrounding them. With demographic changes and development of human society, human need grown and to meet this growing need trade became a prominent mean. Initially, people used to do trading among groups and in unstructured ways. Later, with distinction among groups and geographical boundaries commercial procedures evolved to satisfy growing human need. The people associated with these, became business people and gradually their organization evolved as companies.
Previously these companies were confined among their own regional and national boundaries. But growing competition among themselves, they were forced to expand their businesses in other countries - they become international.
These international companies entered host countries, in many ways and most recently Joint Venture became very popular because of its many benefits. In Joint Venture, two or more companies with complementarily in operation and thinking come together to satisfy their business needs and in most of the cases international joint ventures faces a lot of human resource constraints because of different cultural and social backgrounds of their parents.
We are now in the service economy and day by day importance of people is becoming more prominent in managing business operation and these are particularly more critical in operating an international Joint Ventures. In an International Joint Venture the following picture is prominent:
Human resource Management is about managing human relations in individual and group level and human relation in the interrelationship among people as they work together to achieve organizational goal and attain satisfaction in terms of achieving their objectives. It integrates knowledge from the disciplines of psychology, sociology, and anthropology. Psychology, the study of why people behave in certain ways, facilitates understanding of learning, thinking, and developmental processes.
Sociology is an inquiry into how people behave...