Abstract:
India has immense human resource and major part of this resource is channelized to
foreign nations through Business Process Outsourcing and call centre Units. Factors of
Production are different in nature and type like men, money, material, capital and
technology. The Major differences between these factors are those with emotions and
without emotions. There are different strategies to deal with these factors. This paper
particularly deals with human factor. The management of human factor is especially
needing to deal with emotions, intelligence, physical and mental efforts, knowledge and
skills involved with human factor. Best utilization of human resources leads to good
human resource practices and of course these resources are very much needed for
Entrepreneurial development. Now a day’s getting employment is very big and difficult
task and young graduates are waiting for placements. Graduation does not mean
certification, it should equip the graduates to get placement or to give placement for
others. As for as the status of unemployment is concerned, the recent survey made by
Centre for Monitoring Indian Economy (CMIE, 2018) shows there are 31million
Indians are unemployed and looking for job. This survey is also accounts only educated
unemployed. But still unemployed means it must include illiterates and less educated
also. Hence the problem of unemployment is very serious one. Lot of educational
institutions is coming up day by day and produces more number of educated
unemployed. Hence, self employment or entrepreneurship is the only solution to solve
this unexplainable issue. It not only requires qualification, even without qualification
entrepreneurs can shine with good communication, inter-personal skills, and problem
solving and self-confidence skills. Human resource practices are very much helpful for
successful management of entrepreneurial environment. Therefore, the development of
Entrepreneurship with the inclusion of best Human resource practices is need of the
hour. Government should also take effective steps to develop entrepreneurial qualities
like attitude, skills and knowledge among the student community and general
practitioners. All the government and private agencies must co-ordinate for effective
implementation of Best HR practices in Entrepreneurial Ventures.
