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Essay / Research Paper Abstract
This 14-page paper focuses on the connection between human resources management and a company's competitive advantage in the marketplace. Topics touched on in this essay include the link between a strong workforce and a company's success, as well as how human resources managers and senior management can build a strong 21st century workforce. Bibliography lists 10 sources.
Page Count:
14 pages (~225 words per page)
File: D0_MTcomadv.rtf
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Unformatted sample text from the term paper:
the marketplace, as well as its balance sheet and profit, helped make that company competitive, as did access to financial resources, quality control and superior product and service development.
As time has gone on, however, senior management, as well as industrial psychologists and theorists, have learned something interesting: namely that the factor
driving financial resources and quality control is people. As a result, more companies are beginning to make the link between a finely tuned workforce and competitive advantage.
This paper will attempt to explain the link between these two factors, then explain how boosting one can have a positive effect on the other.
Examples of companies that have supported "human capital management" will also be mentioned, along with how such management has led to strong competitive advantage. The Link between Competitive Advantage and
Employees During the past several years, sociologists and institutional economists have been studying non-economic factors of regional competitiveness and success (Sander, 2001).
According to results of such studies, factors that offer the "most decisive influence" of regional competitive advantage include availability of highly skilled labor and the price/performance of this labor, with
permitting and other "non-economic" factors further down on the ladder (Sander, 2001). As such, regional, national and multinational companies are beginning to examine their workforces more carefully in order to
ascertain better management of what has been termed "human capital." In short, human resource systems and strategies are becoming important to a companys sustained competitive advantage (Twomey and Harris, 2000).
As a result, managing human talent is likely, in this day and age, to determine a business success or failure (Bhatt, 2002). Financial capital is no longer a scarce resource
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