Question
In: Operations Management
What is the Resource-Based Theory viewpoint of Strategic Human Resource Management & Human Captial?
What is the Resource-Based Theory viewpoint of Strategic Human Resource Management & Human Captial?
Solutions
Expert Solution
Answer: The resource based view (RBV) considers that the resources possessed by the company are a source of competitive advantage for the company. The human resource or human capital is one of the most important resources which a company possesses. It is the human capital which enables the strategies developed by the organization on the ground levels. The strategic human resource management (SHRM) is all about developing the human resource or human capital as per the strategic requirement of the company. Thus when the RBV is applied to SHRM it reveals that if the company strategically develops its human resource or capital as per the market conditions, this human resource or capital will help in developing a competitive advantage for the firm. SHRM can help the company to develop human resources as valuable, rare, inimitable resources which can help the company to create a competitive advantage at the marketplace. Hence the RBV of SHRM states that human resource or human capital can be developed by a company as a resource which can help the company to create a competitive advantage at the marketplace.
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