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The discussion provides recommendations on how organizations should align their strategies to achieve excellence.
Competitive advantage and Life cycle models explore the link between the set business strategy and the policies and practices within the human resource department. Comparing and contrasting lifecycle model and competitive advantage is essential in terms of their similarities and differences with respect to HRM.
Competitive advantage model includes differentiation as a way of achieve unique feature that can be of valued to the buyers. The resources that give a firm a competitive advantage should have value. Life cycle model encompasses all the relevant stages demonstrate the growth or maturity stage of a firm. For the HRM to have a gain competitive advantage, the policies and practices must be in keeping with the development stage in the life cycle model (Rees and Smith, 2014). The viability of human resource depends on how well the differentiated products are in tandem with the industry demands (Johnson, Scholes, and Whittington, 2002). Therefore, competitive advantage and life-cycle models help to shape the HRM policies and practices in response to industry demands in different life cycle stages.
Competitive advantage and life cycle models cannot be applied in isolation. A mature organization requires cost leadership and differentiation to survive in the industry. The viability of a firm to sustain competitive advantage stems from attaining maturity. Boxall and Purcell (2011) argue that a firm may set out to be the best in the industry by focusing on cost and product differentiation but it must have reached the maturity stage to position itself well in the market. The organization must be mindful of the lifecycle stages to initiate a change in the tactics used to approach the market. The HRM practices are geared towards reducing competition and offering products that are cost effective for all customers (Marchington and Wilkinson,
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This function deals with issues of staff management, particularly – over hiring, compensation and performance supervision (Goeldner & Ritchie, 2009 p. 89). Other roles of the function include safety wellness, development of the organization, employee motivation, communication, benefits, training and the administration of the functions of the human resources capital available at the organization.
Human resource management of an organization deals with a number of management decisions which have a major impact and influence on the people of the organization. The human resource management when dealt with in a strategic manner with strategic plans and well thought out and strategically devised practices, then this is referred to as Strategic Human Resource Management. The main aim of this paper is to compare and contrast the various approaches of strategic human resource management.
The change being planned in the organization will lead to transformation in three major areas: Communication, Commitment and Control. This will lead to change in employee roles and relationships, organizational structure, employee compensation structure as well as the way that employees work.
Human capital being the biggest driver of the organization mission highly emphasizes the utmost importance of strategic human resource management (Baruch and Peiperl, 2000) Q.1 Explain how planning makes the benefits possible In both organizations whose business agenda if focused on selling of goods or services, human capital is a valuable asset.
Strategic human resource management refers to a managerial process where the human resource manager comes up with policies and practices that have to link with the overall strategic objective in an organisation.
The report is concerned about the trend which is observed in present-day Organisations that are focusing on the survival rather than their growth and development. Organisations collapsed due to economic slowdown have alerted the existing ones regarding their survival in the highly uncertain environment where survival has become a tough matter of subject.
Strategic human resource management can be defined as an efficient management process of utilizing human resources to the best extent and it aims at enhancing the organizational efficiency (Fombrun et al., 1984). It is a complex process that is continuous in nature
Other significant properties in the firm include Arabian Ranches and Downtown Dubai (Perkins, Shortland & Perkins, 2006). Business scholars acknowledge that the success of every firm as born to strategic human resource
The two concepts are interrelated but one elicits higher performance than the other. There was need to develop this advanced form of human resource management as a result of the changing nature of technology, economy and market. There was a need to come up with a
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