The reasons why HR is important can vary depending on if you look at the issue from a manager or employee perspective. Below is a list of typical functions of a human resources department that will help you better understand the essential role of HR in a company. Why Is HR Important for Managers?
The Sherman Antitrust Act of 1890 was the first measure passed by the U.S. Congress to prohibit abusive monopolies, and in some ways it remains the most important. Trusts and Monopolies. A trust was an arrangement by which stockholders in several companies transferred their shares to a single set of trustees.
The government then created the Interstate commerce Act, which would prevent these railroad companies to stop gorging the prices and make all prices fair. Also, railroad companies had to come up with a fair and standard price to travel on trains. The prices also had to be visible to the paying customers. To make sure that those standards were being followed, the government came up with the I.C.C. or Interstate Commerce Commission.