What are the criteria that apply to the strategic impact of human resources?
What will be an ideal response?
Firms can create a competitive advantage when they possess or develop resources that are valuable, rare, inimitable, and organized. The same criteria apply to the strategic impact of human resources:
• People create value: People can increase value by helping lower costs, providing something unique to customers, or both.
• Talent is rare. People are a source of competitive advantage when their skills, knowledge, and abilities are not equally available to all competitors.
• A group of well-chosen, motivated people is difficult to imitate.
• People can be organized for success. People can deliver a competitive advantage when their talents are combined and deployed rapidly to work on new assignments at a moment's notice, as in the effective use of teamwork and collaboration.
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