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First, the statement will be examined and then the role of human resource managers will be discussed within this context.
The competition amongst the businesses around the globe is getting tougher and tougher (Dyer, 1993). Businesses are employing new techniques and adopting new strategies to reach the customer through developing a competitive edge over their customers. The reasons for this increased competition are global competition, knowledgeable customers, demanding stockholders and constant changes in technology (Dyer, 1993). The businesses which reach the top have always been successful in finding the competitive advantage that proves to be sustainable over the time (Dyer, 1993).
Financial resource of an organization or the use of technology has been the main source of competitive advantage of the organization in the past. These resources are essential for the success of the organization, but not sufficient. For this reason, the companies with large employee base have started viewing their human resource as the source of creating customer delight and rapid innovation which places the organization ahead of its competitors. The performance of the organization will suffer if the human resource processes and policies are misaligned, failing to reinforce the business strategy.
Since many years, many organizations have tried to shift their competitive advantage to the human resource by managing it more effectively (Dyer, 1993). At the end of the day, it is the human capital of the organization which formulates strategies, identify business opportunities, innovate new products and target the right market segments (Dyer, 1993). The uniqueness in services and products is created and maintained by the human resource of an organization (Pilenzo, 2009). Therefore, if the human resource is managed well, the organization can develop a competitive advantage which cannot be duplicated over time (Pilenzo, 2009).
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Whether Ethical Sourcing A Source Of Competitive Advantage. Ethical sourcing is a term that is created and defined by an individual organization's principles and practices. It is a perfect merge of sustainability, values imbibed in a business practice and social duty built into an organizations supply chain process.
This research is being carried out to evaluate and present models except for the matrix structure in which there is some sense of focus targeted on vertical organizations synonymous with subordinate-superior relations. This is at times necessary but may become an inhibitor in rapidly changing environments.
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In the present day and age, it is even more difficult to find sources of sustainable competitive advantage than it was ever before, with constant changes in strategy to cater for changing realities and frequent action to take advantage of emerging opportunities.
It is seen that the company has been known for its service quality towards customers, however, it has been confronting with major problems in the competitive market. Analysis of the company background reveals that it has been facing with depleting competitive advantage in the market.
Unlike the traditional concept, compensation and monetary incentives are no more the most important factors to stick on to a job. To maintain continuity in an organization it is very essential that turnover of staff is reduced. Today's world is knowledge-based with dynamic changes taking place by the hour.
onitor the international business environment, where the activity of other organizations largely influences the business operations of another (Schwab, 2009). With the rapid growth of technological advancement, every firm tries to secure its own competitive advantage in order to
itor closely the international business environment, where the activity of other organizations largely influences the business operations of another (Schwab, 2009). With the rapid growth of technological advancement, every firm tries to secure its competitive advantage in order
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