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Knowledge and Human Resource Management - Term Paper Example

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This paper describes how Organizations have to survive and be profitable in a fiercely competitive product market, with changing customer and investor demands. And why the contextual environment plays a significant role in determining the kind of HR systems that will be instituted within a particular country…
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Knowledge and Human Resource Management
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Download file to see previous pages Quality has increasingly become the major criterion that determines productivity, rather than a singular focus on costs which was the guiding principle earlier(Yanovitch, 2007). The new organizational approach, therefore, focuses on employee participation in decision making and a new set of human resource practices have evolved, focusing upon improvement in employee welfare through training, compensation and profit sharing, to motivate them in achieving this objective. People are increasingly being viewed as an organization’s most valuable resource.  While it may not be difficult for competitor companies to imitate products that are produced by one Company, imitating the people/employees or replicating their skills is next to impossible.
The importance of creativity and innovation in the global marketplace which is fiercely competitive, explains why human resources are so important because people are the ones who possess the necessary knowledge and skills required to come up with innovative solutions and human resources of one Company cannot be easily replicated by another Company.  Firms must, therefore, try to recruit and retain workers who possess the kind of knowledge and skills that can generate innovative solutions.
In the knowledge economy, creativity and innovative ideas become the driving force, the brain is more important than brawn and human capital …… becomes of paramount importance. (Warhurst, 2008:72). The knowledge and professional expertise that workers possess originally or upon having received some formal training related to their line of work is a valuable factor in granting a competitive advantage to a business (Potter 1999).  Enhancement of professional knowledge of the employees through proper training helps change the workplace; and as a result, training and subsequent assessment play an important role in the identification of those employees an organization would seek to retain. ...Download file to see next pagesRead More
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