Question 1: 

The field of human resource management and the role of the Human Resource Professional in the new economy has changed drastically, especially due to corporate governance. The most important paradigm shifts in HR governance has had an impact on human resource management on both the macro and micro levels and against the background of the important drivers of this new economy. The focus lies within three main areas of human resource management, namely, recruitment and selection, orientation and induction, and training and development. *Fictious scenario

Note: All your arguments must relate to the field of human resource management.

Critically discuss the concept of corporate governance in the new economy and its impact on HR governance.
Your discussion must include the following aspects:

• Corporate governance versus human resource governance

• How will the HR function contribute value to the organisation

• HR governance systems for public services

• An HR corporate governance framework for South African organisations

• How HR operational areas can be included in HR governance

Answers to Above Questions on Human Resource Management

Corporate governance is defined as the process of applying rules and regulations in order to manage the operations in an organisation in an efficient way. It indicates the ways in which companies are managed and governed, by way of assigning powers and accountability to responsible person. The concept of corporate governance in the new economy is somewhat different from applying rules and regulations over employees, as employees plays a crucial role in the effective functioning of an organisation, and because of their rising importance, the way of applying governance has also changed significantly, requiring management to be lenient while managing their employees.