the initial business model of the ocean house focused on investing in the development of its staff in the early years before raising its rates to generate higher profits. in this regard, Ocean house was implementing which business model?

Question

Jack Galloway

Business

30 July, 23:29

the initial business model of the ocean house focused on investing in the development of its staff in the early years before raising its rates to generate higher profits. in this regard, Ocean house was implementing which business model?

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Answers (1)

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Madilynn Wolf · Answer 1

Strategic Human Resources Management

Explanation:

Strategic human resource management is the process of ensuring that employees are attracted, developed, rewarded and retained in order to maximize benefits not only for the employees alone but also for the whole organization.

Strategic human resource management is practiced in such a way that the goals of human resource department and the rest of the organization are in the same direction of ensuring organisational success. This is done by ensuring the best employees required by each department in the organisation are recruited as at when needed, provided adequate training and duly motivated. Therefore, strategic human resource management renders support to the organizational success.

Advantages of Strategic human resource management include high customer satisfaction rates, rise in job satisfaction, increased productivity, allows resources to be managed efficiently, and among others.

All the best.