|By: Pfeifer, Jeffrey, Veiga, John F., Academy of Management Executive, 10795545, May99, Vol. 13, Issue 2 |
|Database: Business Source Premier |
|Executive Overview |
|There's a disturbing disconnect in organizational management. Research, experience, and common sense all increasingly point to a direct |
|relationship between a company's financial success and its commitment to management practices that treat people as assets. Yet trends in |
|management practice are actually moving away from these very principles. Why is common sense so remarkably uncommon when it comes to managing|
|people? Why do organizations habitually overlook readily available opportunities to boost their financial performance? Drawing on extensive |
|empirical research, an irrefutable business case can be made that the culture and capabilities of an organization--derived from the way it |
|manages its people--are the real and enduring sources of competitive advantage. Managers today must begin to take seriously the often heard, |
|yet frequently ignored, adage that "people are our most important asset." |
|Over the past decade or so, numerous rigorous studies conducted both within specific industries and in samples of organizations that cross |
|industries have demonstrated the enormous economic returns obtained through the implementation of what are... [continues]
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