... completely new concept whereby labour is regarded not so much as a cost but as an asset or resource, which needs to be developed to its maximum ability, so that emphasis is on the individual employee and on his or her motivation, training and development The third opinion reflects the idea that HRM represents the 'beginnings of a new theoretical sophistication'. The second opinion is compatible with Legge's opinion, of the new terminology reflecting the actions of the Conservative Government. The first opinion is likely to be a naïve, unrealistic viewpoint because as will be discussed there are at least some differences between personnel management and HRM. This essay will explore which of these theories is true. I will conclude that the introduction of a conservative government helped to shape HRM but that HRM is substantially different enough from Personnel Management to be considered a 'new theoretical sophistication'. There is evidence ...

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