1.Explain the concept of human capital as a source of competitive advantage.
2.Describe the two intangible resources (i.e. nonphysical economic assets) that you believe contribute most to success
3.New hires are not selected based on their technical skills alone. Based on your observations, what other factors do managers consider when hiring new employees?
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1. Explain the concept of human capital as a source of competitive advantage.
As strategies have evolved over the years, the prime resource has evolved from finance and organization to human capital (Bartlett & Ghoshal, 2002). The concept of core competency with its emphasis on knowledge and learning has also failed as people are found to find this too intensive(Hamel & Prahlad, 1994).Human capital has however turned out to be a source of more sustained advantage than any other resource as other resources can be imitated or leapfrogged by competition(Hofer & Schendel, 1978). New products and innovation are driven by people who have exclusive expertise and knowledge as also building relationships with customers that result in loyalty and sustained revenues.
Human capital is the only resource which does not decrease its value when it is used; on the other hand its value increases when it is used. ...
The paper tries to understand the impact of human capital on organization success.