Essay On Resource Based View

1718 Words4 Pages
bulb-icon

Recommended: The quest for competitive advantage

Introduction
In the globalized world, in which we now live economies are rapidly growing, in turn pushing firms to compete in products and service delivery. The best services and products have been produced due to the increase in the bettering of the human resources. A firm needs to implement unique survival techniques within its environment for competitive advantage. Sources have ultimately evolved from being financial resources to technological resources and now its human capital. These propose that the success of a firm is dependent on the attitudes of the employees, skills and competencies. These are the ability to build trust and assurance, communicate effectively and work within a diverse group (Armstrong, 2010). This essay will examine closely how the Resource Based View (RBV) helps organisations build resources that are essential in sustaining a competitive advantage. First, the key concepts used in the essay will be defined. Secondly, models in human resources will be identified, and then thoroughly discussed on how they contribute to generating sustained competitive advantage. Lastly, a conclusion will be presented.
Key concepts defined
Resource Based View (RBV) is a theory representing a principle stating that a firms’ source for competitive advantage lies in its internal resources. Hence within a firm there certain types of resources owned and controlled which have the potential to breed competitive advantage and increase the performance through the rareness and imitability of the resources (Ainuddin et al., 2007). The competitive value can be improved or eradicated by the factors of the external environment (Songonuga, 2007). According to Barney (2002), firm resources consist of possessions, abilities, organisational ...

... middle of paper ...

... ed: Kogan page.
Barney, j.B. (2002). Gaining Sustainable Competitive Advantage. 4th ed. Prentice Hall: Houghton Mifflin.
Barney, J.B. (1991). Firm Resources and Sustained Competitive avantage. Journal of Management. 17(1):99-120. Australia: Griffith University.
Crilly,T, Jashapara,A.,Trenholm,S.,Peckham,A.,Currie,G., & Ferlie,E. (2013). knowledge mobilization in health care organisations; synthesizing the evidence and theory using perspectives of organisational form, resource based view of firm and critical programme. NHIR Service Delivery and Organisation programme; 2013
Davidson, M.,C.,G,McPhail, R & Barry, S. (2011). Hospitality HRM: past, future and future. Centre for Tourism, sport and service innovation. 23(4): 499-503, Texas A &M University.
Edgar, F & Gare, A. (2005). HRM practices and employee attitudes: different measures- diff results. 34(5): 534-549,622

Show More
Related

  • The Mayo Clinic: A Performance Management Assessment

    2102 Words  | 5 Pages

    Competitive advantage matters greatly to those responsible for the management of healthcare institutions. Together with rapidly escalating healthcare costs, increasingly complex medical technologies, and growing regulatory and legal pressures, healthcare organizations face a critical need to improve the quality of care at reduced costs (Cu...

    Read More

  • Career Action Plan

    2084 Words  | 5 Pages

    Kusluvan, S., Kusluvan, Z., Ilhan, I., & Buyruk, L. (2010). The Human Dimension A Review of Human Resources Management Issues in the Tourism and Hospitality Industry. Cornell Hospitality Quarterly, 51(2), 171-214.

    Read More

  • Human Resources Management at REI, Inc.

    2489 Words  | 5 Pages

    In a competitive economic environment, human resource management has taken more of a strategic, hands-on role in many companies to handle the challenges they face to stay competitive. Companies must find ways to bring in customers and keep good, well-motivated employees on the job. With this in mind, companies that are successful must have sound HRM practices and provide a positive workplace for employees. Looking at the Top 10 Companies to work for, we want to know if HRM practices have an effect on that company being one of the best places to work. We will look at REI, number 9 in the top ten companies to work, to see if Strategic Human Resource Management plays a role in their success.

    Read More

  • Analysis of the Acquisition of Creative Design by Hammond Cards, Inc.

    2358 Words  | 5 Pages

    Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard business review, 86(1), 25-40.

    Read More

  • Outlook for the Automotive Industry

    1383 Words  | 3 Pages

    Porter, Michael E. "From competitive advantage to corporate strategy." Harvard Business Review (1987): 43-59. Print. May 2014.

    Read More

  • UNRIOS Analysis Of UNICEF

    974 Words  | 2 Pages

    Pitts and Koufopoulos (2012) argue that resources and capability are highly important internal factors that should be taken into account by the organization in order to obtain the successful performance in the long run.

    Read More

  • HR Metrics and Analytics

    1123 Words  | 3 Pages

    Boudreau, J. W. and Ramstad, P. M. (2003). Strategic HRM Measurement in the 21st Century:

    Read More

  • Business Analysis: Bega Cheese

    1906 Words  | 4 Pages

    S, Tywoniak 2007, Making sense of resource based view, Academy of Management Conference, University of Technology, Australia.

    Read More

  • Human Resources at Proctor and Gamble

    1821 Words  | 4 Pages

    Human resource management (HRM) encompasses the activities of acquiring, maintaining, and developing the organization's employees (human resources). "The traditional view of these activities focuses on planning for staffing needs, recruiting and selecting of employees, orienting and training staff, appraising their performance, providing compensations and benefits, and making their career movement and development." HRM involves two aspects:...

    Read More

  • Interview With a Human Resources Manger

    1933 Words  | 4 Pages

    Organizations’ other resources can be hired, retained and discarded at any time but human resources needs special treatment. It needs to be carefully hired, deserve an extra effort to retain it and requires training & development to upgrade and improve its capabilities. Other resources depreciate with the passage of time but when the human resource gains more and more experience, it becomes more beneficial for the organizations. These characteristics have brought human resources to be the central element for the success of an organization. (Mohammed, Bhatti, Jariko, and Zehri, 2013, pg. 129, para. 2)

    Read More

  • Caterpillar Inc (CAT): Porter's Five Forces Analysis

    1238 Words  | 3 Pages

    It is also perhaps not feasible to evaluate the attractiveness of an industry independent of the resources a firm brings to that industry. It is thus argued that this theory be coupled with the Resource-Based View (RBV) in order for the firm to develop a much more sound strategy. It provides a simple perspective for accessing and analysing the competitive strength and position of a corporation, business or organisation.

    Read More

  • Resources and Capabilities Report: McDonald´s

    1805 Words  | 4 Pages

    Acedo F.J 2006, ‘The Resource Based Theory: Dissemination and main trends’, Strategic Management Journal, Vol. 27, pp. 621-636.

    Read More

  • Human Resource Management In The Workplace

    796 Words  | 2 Pages

    Human resource is the most valuable and unique asset of an organization. The successful management of an organization’s human resource is an exciting, dynamic and challenging task , especially at a time when the world has become a global village and economies are in a state of flux. The lack of talented resource and the growing expectation of the modern day employee has further increased the difficulty of the human resource function.

    Read More

  • Human Resources and Organizational Strategy

    2373 Words  | 5 Pages

    ...an approach of partnership is critical for organizations that want to gain competitive advantages. Butler, Ferris & Napier (1991) state this as, “the more management believes that HRM contributes to corporate success, the more its role will be integrated into the firm’s strategic planning process.” (as cited by Rose & Kumar, 2006, pg. 3). Additionally, organizations that apply energy and resources to HRD benefit from an increase in human capital. López-Cabrales, Real & Valle (2011) state the benefits of building human capital as, “If the company adopts appropriate procedures of personnel management, human capital can be orientated to the achievement of sustainable competitive advantages” (pg. 5).

    Read More

  • History Of Human Resource Management

    1796 Words  | 4 Pages

    Human Resource Management (HRM) is fundamentally another name for personnel management. It is the process of making sure the employees are as creative as they can be. HRM is a way of grouping the range of activities associated with managing people that are variously categorised under employee relations, industrial/labour relations, personnel management and organisational behaviour. Many academic departments where research and teaching in all these areas take place have adopted the title department of human resources management. HRM is a coordinated approach to managing people that seeks to integrate the various personnel activates so that they are compatible with each other. Therefore the key areas of employee resourcing, employee development, employee reward and employee involvement are considered to be interrelated. Policy-making and procedures in one of these areas will have an impact on other areas, therefore human resources management is an approach that takes a holistic view and considers how various areas can be integrated.

    Read More

More about Essay On Resource Based View

Open Document