How are human resources related to competitive advantage? What are the criteria to judge the strategic impact of human resources?
What will be an ideal response?
Firms hold a competitive advantage when they possess or develop resources that are valuable, rare, inimitable, and organized. We can use the same criteria to talk about the strategic impact of human resources when it creates value, which can be done through efforts to decrease costs or provide something unique to customers; is rare, which it can achieve by recruiting and training people with skills, knowledge, and abilities that are better than competitors' and hard to find; is difficult to imitate, which it can do by recruiting people whose capabilities and contributions cannot be copied by others; and is organized, which it achieves by deploying people as needed based on their experience, skills, and potential.
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