Human Resource Management And Competitive Advantage

It is important for a company or organization to have competitive advantage in our constantly evolving world. Organizations must adapt to changes in the environment, technology, and the continuously changes in the demand of consumers. Competitive advantage by definition is â€Å"anything that a firm does especially well compared to rival firms† (David, 2012,p.8). Meaning that when the firm is capable of producing or doing anything that the competition cannot do, or even if it is something that the competition aspires to have that represents a competitive advantage. In this paper I will briefly explain how human resource management, communication, motivation, organizing, planning, and pricing contribute to creating competitive advantage. Human Resource Management (HRM) can be described as â€Å"the comprehensive set of managerial activities and tasks concerned with developing and maintaining qualified workforce human resources in ways that contribute to organizational effec tiveness† (Denisi/Griffin, 2014,p.4). Today the role of human resource management is considered to be critical because people are a valuable source for any organization competitive advantage. The human resource management operation demand enthusiastic committed, professionals, who are able to balance constitutional and humane concerns with the requirements of the organization to survive and be profitable. As I mentioned earlier human resource management can be an important source ofShow MoreRelatedHuman Resource Management : A Competitive Advantage Essay1352 Words   |  6 PagesIV. HUMAN RESOURCE MANAGEMENT AS A COMPETITIVE ADVANTAGE â€Å"It allows a firm to gain an edge over rivals when competing. It comes from a firm’s ability to perform activities more distinctively and more effectively than rivals. † Competitive advantage refers to the ability of an organization to formulate strategies for the exploitation of opportunities that are to be presented in external environment. Liberalization created a hyper-competitive environment to respond to this turbulence, Indian organizationsRead Moreâ€Å"Gaining Competitive Advantage Through Human Resource Management†1830 Words   |  8 Pagesorganization realizes from human capital investment is directly proportional to the quality of its human resource strategy, processes and overall management. For our purposes, human capital is defined as individual, as well as collective, skills, talents, and capabilities. The outcomes of an organization’s HR processes are critical capabilities, like enhanced leadership, managerial competency, employee efficiency and proficiency, and workforce collaboration. HR management can be a major change agentRead MoreCourse Summary: Human Resource Management: Gaining a Competitive Advantage2306 Words   |  10 PagesSummary Human Resource Management Chapters 1,2,4,5,6,16 Chapter 1: Gaining a Competitive Advantage * Competiveness ability to maintain share in industry (related to effectiveness) * Human Resource Management policies, practices, systems that influence employees’ behaviour, attitude and performance analysing and design of work, planning, recruiting, selection, training, compensation, performance management, employee relations * HRM practices should be strategic * HR has 3Read MoreWhy Strategic Human Resource Management (SHRM) is so important? How is human resource management (HRM) strategic to gain competitive advantage?2893 Words   |  12 PagesExecutive Summary Nowadays, Strategic Human Resource Management becomes very important for the organizations in the business world environment. The purpose of this assignment is about what the Strategic Human Resource Management (SHRM) is and why SHRM is so important? How is human resource management (HRM) strategic to a firms viability and how it might help to lay a basis for sustained competitive advantage? And what are the strategies for the managers to pursue their goals for labor productivityRead MoreStrategic Human Resource Management (Shrm): a Paradigm Shift for Achieving Sustained Competitive Advantage in Organization7616 Words   |  31 PagesEuroJournals, Inc. 2010 http://www.eurojournals.com Strategic Human Resource Management (SHRM): A Paradigm Shift for Achieving Sustained Competitive Advantage in Organization Benjamin James Inyang Department of Business Management, University of Calabar P.M.B. 1115 Calabar, Nigeria E-mail: benji1955.unical@yahoo.co.uk Tel: +234 8033773403 Abstract The human resource of an organization offered the potential synergy for sustained competitive advantage, when properly deployed, maintained and utilized. FromRead MoreStrategic Human Resource Management (Shrm): a Paradigm Shift for Achieving Sustained Competitive Advantage in Organization7632 Words   |  31 PagesEuroJournals, Inc. 2010 http://www.eurojournals.com Strategic Human Resource Management (SHRM): A Paradigm Shift for Achieving Sustained Competitive Advantage in Organization Benjamin James Inyang Department of Business Management, University of Calabar P.M.B. 1115 Calabar, Nigeria E-mail: benji1955.unical@yahoo.co.uk Tel: +234 8033773403 Abstract The human resource of an organization offered the potential synergy for sustained competitive advantage, when properly deployed, maintained and utilized. FromRead MoreHuman Resource Management And Human Resources1243 Words   |  5 Pages Human resource management Introduction As storey (2001) explains that human resource management concept is typical approach to business which quest to achieve competitive advantage through the strategic disposition of dedicated and committed human work force using array of values, culture, personnel and structural techniques. In simple word Human resource denotes to employees that help to run and drives an organisation which is also the main workforce of any organisationRead MoreStrategic Human Resource Management Essay example1594 Words   |  7 PagesIntroduction An organization consists of several departments but working together towards the achievement of set objectives. One of the most important departments of an organization is the human resource department. It is mainly charged with the duty of, recruitment, promotions, placement and rewards in an organization. For an organization to maintain operations and increase profit, it has to strategically manage its affairs. This enables an organization to assess its strategies and formulateRead Moreâ€Å"Critically Assess the View That Human Resource Management Practices Should Be Designed to Fit the Business Strategies and Objectives†Ã¢â‚¬Æ'1310 Words   |  6 PagesQuestion: â€Å"Critically assess the view that human resource management practices should be designed to fit the business strategies and objectives†Ã¢â‚¬Æ' Dynamism is increasingly becoming a feature of the business environment, so what can businesses do to attain and sustain a competitive advantage? They need to set out clear goals and objectives and then ensure that all internal processes and activities are designed in a manner to attain these goals and objectives. Furthermore, some of these practicesRead MoreResearch Proposal: Strategic Hrm1623 Words   |  7 Pagesâ€Å"Perspectives on Human resource strategy: A key role contributing to organization performance in Cambodian Context† By Chit Uys Stevexo July 21, 2011 The strategic management of an organization s human resource has been recognized as one of the keys to business success. This particular strategy generally involved the optimization of the employees potentials mainly through training and performance assessment. This organizational strategy has been integrated in several businesses mainly to