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Question:
In today?s economy with its focus on knowledge and services, it is now widely accepted that the key that opens the door to business success is talent. "People are our best asset? has become a predictable mantra.
(a) What are the key elements related with the concept of human resource development?
(b) How does the Human Resource Management (HRM) Strategy link to the overall Business Strategy of an organisation? Make use of example(s) to substantiate your answer.
(c) One of the three concepts of strategy, as formulated by M.Porter, is competitive advantage.
(i) What are the generic strategies that an organization can use to gain competitive advantage?
(ii) How will HRM Strategy and practices help in achieving competitive advantage?
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