Managing Human Capital

Essay by catrynlooiUniversity, Master'sC, August 2014

download word file, 16 pages 0.0

The company to be discussed is BP which formerly known as British Petroleum. In 1901, William D'Archy the geologist expert is the founding member of company British Petroleum (BP). Back then, BP was called Anglo-Persian Oil Company. BP business growth so well in 1998, BP has merged with Amoco. Amoco was rebranded to BP and became the largest natural gas producer in the North America. In the millennium 2000, Castrol has become part of BP. BP businesses have been growing rapidly. In 2000, BP decided to open a Business Services Centre in Malaysia located in Kuala Lumpur which BP believe that it will be more cost effective and diverse workforce and to provide a successful service centre.

The main purpose of BP Business Services Centre is to help BP's parent company to save cost which lead to Personnel Management approached at the early time. Personnel Management are more to functional department which help on recruiting, selections and carry out administration jobs.

Tend to be more practical and reactive, only create solutions when there are problem occur. In recent years MSC Malaysia has attracted lots of Multi National Company to invest because of the ten years tax exemption (Multimedia Development Corporation, 2012). Thus, to be in competitive advantage BP Business Services Centre personnel management approach has been moved to human resource management. Human resource management tends to be more humane and start to treat workers as a resource that can help to meet company's objectives. Human capital management is an improvement from human resource management and personnel development which stated that people is the assets of the company. The current values are measureable and people can be intensifying by investment such as training. In short, human capital management is an intangible source of competitive success. BP in Malaysia is currently...