A review of the role of human resource development in assisting an organization to achieve successful business performance in a global marketplace.
Written in 2008; 1,551 words; 4 sources; APA; $ 50.95
Paper Summary:
The paper discusses that today's global marketplace has changed the definition of the role of human resources in the business world. The paper then examines those changes and its effect on the role held by human resource managers.
Outline:
Introduction
The Role Of HR In Today's Marketplace
Assessment Of The Extent Of Global Participation
Challenges: Differences In Culture And Management Styles
Challenges Of A Global Marketplace
Summary and Conclusion
.
From the Paper:
"Bray (2006) states: "Barney (1991) developed a model that demonstrates that, for a resource to be the source of sustained competitive advantage, it must create value (V) for the firm; it must be rare (R); it must be inimitable (I); and it must be nonsubstitutable (S)." Bray states that when this model is applied that human resources has the "highest probability among all resources of being the source of sustained competitive advantage for the firm." (2006) With this in mind, Bray argues that a firm should "focus its entire pool of human resources..." (2006) When human resources is considered in the organization Bray states that human resources is distinguished as: "...individuals (or an elite group of individuals such as top management teams) and human resources as the total pool of human capital." (2006) However in Barney (1991) the emphasis was placed on HR resources referring to both manager and worker characteristics and the work of Wright McMahan and McWilliams (1994) posited that "...the larger pool of human capital that constitutes the entire organization is more likely to be a source of sustained competitive advantage." (Bray, 2006) A resource, according to Bray "must also be rare if it is to be a source of sustained competitive advantage." (2006) In fact, the organization that is globally based has a better change at acquiring the 'rare' human 'resource' because it has a larger pool to choose from. Bray specifically states: "Therefore, firms that, because of their international operations, can draw from more than one labor pool have a greater potential for developing a human-resource-based sustainable competitive advantage than do domestic firms that can draw from only one labor pool. Transnational organizations by virtue of transnational representation and a transnational process are particularly able to draw upon the rare components of their multiple labor pools, and are, thus, more likely to develop sustainable competitive advantages." "
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