How Training and Development Helps in Competitive Advantage
TRAINING AND DEVELOPMENT
ASSIGNMENT ON
HOW CAN TRAINING AND DEVELOPMENT HELP IN ACHIEVING COMPETITIVE ADVANTAGE FOR AN ORGANIZATION
SUBMITTED TO: SUBMITTED BY:
Prof. Anurag Shankar Shrishti
Economic liberalization and policies of globalization have created a hyper-competitive environment, innovation and fierce competitiveness have raised issues of survival, effectiveness, sustainability, etc. Increasing demand for skilled performers and increasing high attrition of capable workforce forced the companies to shift focus on attracting and retaining high-performing employees in the extremely competitive business environment. Companies have recognized the need to enhance the employee’s opportunity to develop skills and abilities for full performance within the position and for career advancement and growth which would lead to retention of talented workforce in return increase firms performance in terms of profitability and productivity. Companies have realized that in today's competitive business milieu, the quality of people one employs will make all the difference. Lately, human resource management has emerged as an essential factor for sustained competitive advantage. Research highlights that organizations develop sustained competitive advantage through management of scare and valuable resources (Barney,1991). The human resource enables organizations to achieve optimization of resource, effectiveness, and continuous improvement consistently (Wernerfelt, 1984). An organization takes time to nurture and develop human capital in the form of knowledge, skills, abilities, motivation, attitude, and interpersonal relationship, and makes it difficult for competitors to imitate (Becker & Gerhart, 1996).
Competitive advantage is a management concept that has been so popular in the contemporary literature of management nowadays. The reasons behind such popularity include the rapid change that
ASSIGNMENT ON
HOW CAN TRAINING AND DEVELOPMENT HELP IN ACHIEVING COMPETITIVE ADVANTAGE FOR AN ORGANIZATION
SUBMITTED TO: SUBMITTED BY:
Prof. Anurag Shankar Shrishti
Economic liberalization and policies of globalization have created a hyper-competitive environment, innovation and fierce competitiveness have raised issues of survival, effectiveness, sustainability, etc. Increasing demand for skilled performers and increasing high attrition of capable workforce forced the companies to shift focus on attracting and retaining high-performing employees in the extremely competitive business environment. Companies have recognized the need to enhance the employee’s opportunity to develop skills and abilities for full performance within the position and for career advancement and growth which would lead to retention of talented workforce in return increase firms performance in terms of profitability and productivity. Companies have realized that in today's competitive business milieu, the quality of people one employs will make all the difference. Lately, human resource management has emerged as an essential factor for sustained competitive advantage. Research highlights that organizations develop sustained competitive advantage through management of scare and valuable resources (Barney,1991). The human resource enables organizations to achieve optimization of resource, effectiveness, and continuous improvement consistently (Wernerfelt, 1984). An organization takes time to nurture and develop human capital in the form of knowledge, skills, abilities, motivation, attitude, and interpersonal relationship, and makes it difficult for competitors to imitate (Becker & Gerhart, 1996).
Competitive advantage is a management concept that has been so popular in the contemporary literature of management nowadays. The reasons behind such popularity include the rapid change that
Bibliography: http://www.ukessays.com/essays/management/training-and-development-as-source-of-competitive-advantage-management-essay.php http://www.evancarmichael.com/Sales/5247/Talent-Development--the-New-Competitive-Advantage.html http://www.fareastjournals.com/files/FEJPBV3N2P3.pdf http://domsiitr.info/allpaper/Achieving%20Competitive%20advantage%20through%20HR%20Practices_Archana%20Sharma_HRM021.pdf http://www.my-world-guide.com/upload/File/Reports/e/egipt/Competitive%20Advantage%20Through%20the%20Employees.pdf http://www.slideshare.net/Alistercrowe/training-to-gain-a-competitive-advantage http://domsiitr.info/allpaper/Achieving%20Competitive%20advantage%20through%20HR%20Practices_Archana%20Sharma_HRM021.pdf