As civilization progresses rapidly into the age of globalization, technology and competition, an inevitable shift in organizational paradigm is to be expected. In a fast-paced business environment, the fierce competition between businesses challenges products’ life cycles. As competition increases, a product’s life cycle shortens, and is faced with the threat of premature elimination. Today, much emphasis is placed on overall cost efficiency to maintain business sustainability and competitive edge. To achieve cost efficiency, a business must look at its resources and determine the correct strategy to deployment, which will help the business attain its business goals. One of the strategic moves to keeping a business cost effective is to implement a strategic approach to human resource management (Sondhi and Nirmal, 2013, p.4).
While it is still important for businesses to develop external competitiveness through introduction of new services, products or innovations, the business must prioritize its development of internal human assets as it is through the employe...
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Omerzel, D. and Gulev, R. 2011. Knowledge resources and competitive advantage. Managing Global Transitions, 9 (4), pp. 336-357.
Simon, S. 2013. The Essentials of Employee Engagement in Organizations. Journal of Contemporary Research in Management, 6 (1), pp. 64-65.
Sondhi, V. and Nirmal, P. 2013. Strategic Human Resource Management: A Reality Check. Review of Management, 3 p. 4.
Wright, P., Mcmahan, G. and Mcwilliams, A. 1993. Human Resources and Sustained Competitive Advantage: A Resource-Based Perspective. Center for Effective Organizations, p. 11.
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