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Why human resources is a key source for competitive advantage
Effective use of human resources for competitive advantage
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Competencies are resources that give an organization advantages over their competition within a specific market. Competencies are difficult for competitors to mimic and what an organization does best. Competencies and strengths are very similar and at times can be confused. The primary difference is strengths are closely aligned with internal existing behaviors that come naturally while competencies are skills, knowledge, and behaviors that are developed and translate to strategic advantages. EMI has developed key competencies that will allow us to compete in an extremely competitive environment while maintain our corporate mission. Personnel Competencies. Using people as a competitive advantage is the foundation of EMI’s competencies.
I think that defining core competencies begins with a simple question: what does a firm ourperform its competitor? For example, if a firm can offer the faster delivery in the cheaper price than other firms, and this was possible because of the firm's superior delivery system, then the superior delivery system would be defined as that firm's core competency. Chase Bank is one of my favorite companies, and I think that its core competency is the largest number of bank-owned ATMs in the United States of America. This core competency gives customers the higher accessibility without additional fees than other banks.
Strengths are gifts that we have that we us to our benefit, but we must use them in a holistic, Bible-based, and asset-based view. Strengths on the other hand are what we use to help define our unique design. Strengths are what we rely on primarily, such as if we are good at intellectual, we will primarily use those strengths instead of using emotional or physical strengths because we do not have a good measure on them. When we focus solely on our weaknesses, we will not fully understand our unique design. Weaknesses are wake the evil one uses that make us doubt are life calling because we are missing the mark on what our stre...
Resources entail intangible, tangible, and human resources. Capabilities to describe the environment and strategic environment. Core competencies include knowledge and technical capability. In this section, we will attempt to describe in detail the three segments: resources, capabilities, and core competencies. 4.2.1 Tangible Resources Tangible resources include four different areas of importance.
Identifying and understanding your own personal strengths is key to being a successful leader. Knowing your strengths means you can focus your efforts to maximize results, in yourself and in others. Strengths Finder 2.0 is designed to uncover your strengths and utilize these strengths to your advantage (Rath, 2007). Identifying and applying these strengths to your leadership style, will enhance your effectiveness as a transformational leader.
The development of a competency model is built by forming a collection of attribute, talents, expertise, behaviors, or traits, which is needed to outline the desired type of person for a leadership post. A competency should be used as a guide not as the ultimate terms for developing a leadership assessment plan. By using the competency model as a guide an organization can avoid synthetic or process which often fail to address certain organizations’ cultures, environments, and distinctions. Competency model is an assortment of competencies when conveyed together delineates a positive execution in specific work setting. Competency models are also a core part of human resource operation like staffing, training and development, and performance management.
Everyone has strengths and weaknesses. As Roth states in Strengths Finder 2.0, we as a present day world tend to focus on and try to overcome our weaknesses rather that building up our strengths. Using our natural talents can help us do the best we can and help us be a better asset. After taking the strengths assessment, I found that my top five strengths themes ended up being: relator, discipline, competition, responsibility, and significance.
Some strengths that would be good to apply in a business context would include teamwork, fairness, honesty, curiosity, and perseverance. Teamwork is an important aspect of business, since you are always working with someone. For instance, you could be working with an employer, an employee, or a customer. In each of these cases you must be willing to work with the other person to receive an outcome that is desired by both people. Without teamwork, no businesses would be able to work effectively or efficiently. When having to do teamwork within a business you must be able to set aside all differences that are not relevant, such as you do not like that person’s hair color, or they bought someone a coffee one day and not you, or anything that does not
Strenghts: The Strength of a business are positive elements. It is the Capital, Skills or Knowledge that a company has over its competitors.
Finding and retaining high performing employees is a challenge all business organizations face. Employees search for jobs where they can be successful, appreciated, and have the opportunity to grow and advance. Effective employers develop career plans that are easy to follow, sustainable, customizable, and provide rewards and recognition when appropriate to entice and retain high performing employees. Using competency models management and human resources can define attributes of top performers that are important to the company for short term and long term success. There are numerous variations of competency models and several methodologies to build the appropriate competency model for an organization. Input from executive management, human resources, top performing employees, and external sources will assure the ideal skills, abilities, knowledge, and personal attributes are defined for the competency model. Successful career paths follow a structure of competencies outlining the needs of each level. Through the teamwork of human resources, management, and each employee the career path will be reviewed, evaluated, and updated for the employee’s needs in line with the company’s values and goals using the defined competencies.
Resources are organization’s productive assets and capabilities are what an organization is capable of doing. The relationship between resources and capabilities of a company forms a competitive advantage. Capabilities and resources help in gaining value and competitive advantage over competitors.
...M. E. (2008). Competitive advantage: Creating and sustaining superior performance. New York: Simon and Schuster.
This modern era is the era of competition and we all are here to do our best to survive. To prove our existence we all need to show that we have skills in our hand and we are here to make our mark. In an organization even to fit in, we need to stand out. There are some skills and competencies which help us survive in the organization and there are others which make us different. We need both to be an asset to the company.
Core competency became a critical point to let a business of seaport survive in the strong competence of industry. Core competency is a specific factor that a business sees as central to the way the company or its employees work. It fulfills three key criteria:
Spencer and Spencer (1993): ―Competencies are skills & abilities-things you can do -acquired through work experience, life experience, study or training.
We can define competitive advantage as simply what a given company excels best at. This could be the distinguishing factor as to why consumers purchase from your company and not the competition. This could also be understood from the perspective of quality that a business can create for the consumer.