Seminar paper from the year 2011 in the subject Business economics - Personnel and Organisation, grade: 1,3, University of applied sciences, Munich, course: Human Resources, language: English, abstract: Human Resources Development (HRD) is an investment into one of a company's most important factor for future success: the Human Capital. For a structured approach to HRD the HRD cycle with its 4 stages is introduced: Identification of HRD needs, design of HRD interventions, delivery of HRD interventions, and evaluation of HRD interventions. All stages are briefly described and main models and approaches are mentioned. Finally future challenges of HRD are listed showing that a lot of the major topics prevail challenging in the foreseeable future.