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Why is it important for a company to make its human resources into a competitive advantage and how can HR contribute to doing so?
Wiki User
∙ 15y ago
It is important for a company to make its human resources into a competitive advantage because if your company has good human resources, you are able to to receive more and more customers. (more customers more revenue ) !!!! It will also make your company more likable.
Wiki User
∙ 15y ago
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How human resource management can be instrumental in helping a company to create competitive advantage?
If we want to proof human resource as an instrument for gaining competitive advantages in a company we should focus on two things, one is competitive advantage and another is human resource management process. We know if any side of a company is more efficient than other companies in between a same industry is called competitive advantage. Competitive advantage is something that means, to achieve the goals how my internal resources support me. Competitive advantage is related to internal resources of an organization. On the other side we know human resource is the most important and most effective resource for any organization. Human resource is something that has no alternative for achieving the organizational goals. By using this tool one organization can gain it's goals The preconditions for achieving competitive advantage are many but low cost and high productivity are the most important for gaining competitive advantages. If a company has a efficient work force or human resource that is technologically advanced and flexible it's may be possible for that company to gain more competitive advantages into the respective industry. By formulating and executing the work force of a company it can achieve its goals and it can also increase its productivity. More productive the company more advantages in the market. Productive company can fulfill the demand of a market. BY: CHARITY YATTS
Why is human resources are more important than physical resources?
It is more important because without it, there would never be physical resources.
Why is human resource more important than physical resources?
because with out human resources there would be no physical resources
What is strategic decision making?
In general strategy is defined as "the long term direction of an organisation". However to be more spesific and basid on characteristic , it involves , strategy may be defined as the long term direction and scope of an organisation to achive competitive advantage through the configuration of resources within a changing environment for the fulfilment of stakeholders aspirations and expectations.
how can i contribute to the growth of your organization?
By using the limited available resources to maximise output. By using the limited available resources to maximse output By using the limited available resource to maximise output.
Difference between Competitive Advantage and Comparative Advantage?
Comparative advantage (of a country or firm, for example) is *given* by the access to certain resources that others don't have. Usually this is related to natural resources. I say "access" because it doesn't matter if you are or are not the owner. On the other hand, competitive advantages are *created* by combining different resources, primarily knowledge. In management this is equivalent to "rise barriers" for competitors, in the sense that a true competitive advantage is that one that is difficult to be copied by the competitors (although not impossible.) Due to the nature of the comparative advantages, it is usually said that they provide you a "static" advantage, something that others can surpass by using their competitive advantages, which are said to be "dynamic." Feel free to make corrections to my answer.
How human resource management can be instrumental in helping a company to create competitive advantage?
If we want to proof human resource as an instrument for gaining competitive advantages in a company we should focus on two things, one is competitive advantage and another is human resource management process. We know if any side of a company is more efficient than other companies in between a same industry is called competitive advantage. Competitive advantage is something that means, to achieve the goals how my internal resources support me. Competitive advantage is related to internal resources of an organization. On the other side we know human resource is the most important and most effective resource for any organization. Human resource is something that has no alternative for achieving the organizational goals. By using this tool one organization can gain it's goals The preconditions for achieving competitive advantage are many but low cost and high productivity are the most important for gaining competitive advantages. If a company has a efficient work force or human resource that is technologically advanced and flexible it's may be possible for that company to gain more competitive advantages into the respective industry. By formulating and executing the work force of a company it can achieve its goals and it can also increase its productivity. More productive the company more advantages in the market. Productive company can fulfill the demand of a market. BY: CHARITY YATTS
What is Equity strategic alliance?
Strategic Alliance: Is an alliance(a business strategy) in which two or more firms own different percentages of the company they have formed, by combining some of their capabilities and resources for creating a competitive advantage in the market. For Example: In Pakistan (Karachi), "own % of RBS,Barclays and CitiBank" when combine together their resources & capabilities they form a competitive advantage now named as "FAYSAL BANK".
What is business strategies?
A term used in business planning that implies a careful selection and application of resources to obtain a competitive advantage in anticipation of future events or trends.
What are the advantage of natural resources?
An advantage of Natural Resources would be the option for renewable resources.
Why is important for a company to make it's human resouses into a competitive advantage?
human resources in a company are the changing assets. its forward looking workforce can prove to be the vital assets for the company to grow, in terms of know how, in the field of gathering knowledge from the outside competitive world and put to its advantages, beside covering the entire gamout of business of the company forward.
what is required for the effective management of human resources in a firm to gain a competitive advantage in the marketplace?
timely and accurate information on current ee and potential ee in the labor market
What has the author Claire Garner written?
Claire Garner has written: 'An exploration of human resources management and development strategies to enable competitive advantage in the UK publishing production sector'
New opportunities and innovative strategies?
An innovative strategy guides decisions on how resources are to be used to meet a firm's objectives for innovation and thereby deliver value and build competitive advantage.
How would effective use of resources contribute to the profit of a business?
How would effective use of resources contribute to the profit of a business?
How would effective use of resources contribute to the profit of a business -?
How would effective use of resources contribute to the profit of a business?
What is advantages of natural resources?
An advantage of Natural Resources would be the option for renewable resources.
