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It has frequently been argued that leveraging the human resources of a firm can result in generating capabilities through which a firm can easily achieve success even in the toughest market conditions.However, all of us have seen that in the recent economic crisis many organizations selected the route of downsizing and other cost-cutting measures that negatively affected the employee value proposition.
Thus, achieving and maintaining competitiveness of the organization is a key element of strategic human resource management.
This paper looks into the concept of integration of corporate and business strategy with human resource strategy and investigates the issue in some key multinational corporations.
This later area is more widely recognized as international HRM, involving same elements as HRM within a single country, yet added complexity due to diversity of national contexts and inclusion of different national categories of workers.
A major aspect of international HRM research has developed understanding of micro-level variables related to the cross-national transfer of employees and management practices.
identifying and analyzing external opportunities and threats that may be crucial to the organization’s success.
Human resource management gas the unique potential to supply “competitive intelligence (CI)” that can be useful in the strategic planning process.A second area of research has been developed in comparative HRM research.Third, much of the research in international HRM has focused on aspect of HRM in MNEs.Thus, in today’s intensely competitive and global marketplace, maintaining a competitive advantage by becoming a low-cost leader or a differentiator entails having a highly committed and competent workforce.Competitive advantage lies not just in differentiating a product or service or in becoming a low-cost leader but in also being able to tap the organization’s special skills or core competencies and rapidly respond to customer’s needs and competitor’s moves.Concomitant with these developments has been increasing awareness that the management of a global workforce is a critical dimension of international business.A major aspect of multinational corporations’ (MNCs) management relates to the area of strategic international human resource management.This research paper is about the effectively linking corporate and business strategy with the human resource strategy in order to achieve competitive advantage.In this chapter, a background to the research is presented along with the objective and need of this research.In other words, competitive advantage lies in the management’s ability to consolidate corporate wide technologies and production skills into competencies that empower individual business to adapt quickly to changing opportunities.Organizations have been forced to reevaluate the importance of human resources due to the transition from a labor-intensive approach to a more knowledge-driven approach of the business world.