scholarly journals Calculating Human Capital: The Market Based Valuation of the Human Resource

2007 ◽  
Vol 21 (3) ◽  
pp. 206-231 ◽  
Author(s):  
Roman Bechtel
Keyword(s):  
Human Capital ◽  
Human Resource ◽  
Value Added ◽  
Product Market ◽  
Market Mechanism ◽  
Sustainable Competitive Advantage ◽  
Resource Value ◽  
Resource Based View ◽  
Resource Valuation ◽  
Tacit Consent

According to the Resource Based View of strategic management, analyzing the human resource of a specific firm in terms of its potential to serve as a source of a sustainable competitive advantage requires an examination of – among others – the resource value. The question of how to parameterize this value, i.e., how to calculate human capital, straightly leads to an integration of RBV reasoning with market based models of the competitive environment at the factor and product market side. However, there seems to be a tacit consent among strategy scholars that the only adequate market mechanism to be used for resource valuation is the product market with the economic rents effectively created there. Yet this regularly ends in a tautology criticism of the RBV. It thus is the particular purpose of this paper to examine what market mechanism really is the adequate one to use for the calculation of human capital. For this, a deductive methodology is used. In advancing the idea of a product market orientation, one encounters some major dilemmas ultimately leading to the conclusions that a product market based resource valuation is neither useful nor possible and that the resource value must be measurable independent from any product market success – thus invalidating the tautology criticisms at the same time. This is in direct and flagrant contradiction to the prevailing academic view. As a consequence of this, e.g., “Value Added Approaches” and “Return Based Approaches” of Human Capital Management are discredited as not conform to theoretical requirements and not useful for practical business management, whereas factor market based methods alone prove helpful.

scholarly journals Human Resource Management practices that translate into sustainable competitive advantage

2019 ◽  
Vol 3 (1) ◽  
pp. 115
Author(s):  
Ewa Bułat
Keyword(s):  
Resource Management ◽  
Human Resource Management ◽  
Human Resource ◽  
Management Practices ◽  
Design Research ◽  
Value Added ◽  
Business Strategies ◽  
Business Success ◽  
Sustainable Competitive Advantage ◽  
Hrm Practices

 Aim: The aim of the paper is to delve into the Human Resource Management (HRM) practices which undoubtedly translate into enhanced business performance. The article combines the theoretical study of HRM with its application to professional practice in order to provide a comprehensive analysis of the reasons and ways of implementing good HRM processes. Design/Research methods: A desk case study approach has been adopted to conduct a descriptive-comparative analysis of two prosperous corporations operating in distinct sectors. Conclusions/findings: It is suggested that the analysed companies have been consistently outperforming their competitors due to their HRM practices which can be linked back to the seminal motivation theories and concepts relating HRM to performance. It seems that especially the application of AMO framework and Path-Goal Theory to workplace scenarios can yield good results, regardless of the industry. Originality/value of the article: This study not only provides an insight into the HRM practices which appear to contribute most to improved productivity, but it also attempts to shed some light on the how and why of their application. So far, much of the empirical research has confirmed a significant statistical connection between HRM practices and business success, but relatively little attention has been paid to understanding the exact mechanisms through which conceptual HRM practices can be implemented. An attempt to address this gap is the value added of the paper. Implications: The findings may prompt the upper echelons of power in companies to fit the appropriate HR practices into their business strategies to achieve the organisational objectives.  

scholarly journals Artificial Intelligence Based Strategic Human Resource Management (AISHRM) For Industry 4.0

2020 ◽  
pp. 7-13 ◽  
Author(s):  
K R Samarasinghe ◽  
Dr. Ajith Medis
Keyword(s):  
Artificial Intelligence ◽  
Human Capital ◽  
Resource Management ◽  
Human Resource Management ◽  
Conceptual Model ◽  
Human Resource ◽  
Industry 4.0 ◽  
Business Environment ◽  
Strategic Human Resource Management ◽  
Sustainable Competitive Advantage

Industry 4.0, known as industry revolution 4.0, is going to be a business environment in which the labor market will get replaced by machines that can think like humans. Value chains of companies will get interconnected with data. Robots with artificial intelligence will be performing operations that were previously done by humans. Further, those will achieve more accuracy and efficiency in such activities. With this revolution, companies require to focus more on strategic human resource management, as human capital is going to be a much more valuable asset in industry 4.0 where organizations will be able to create sustainable competitive advantage through human capital. Artificial intelligence (AI) is going to be the fuel in industry 4.0. AI based machines will represent the majority of the labor force. This paper is to introduce AISHRM conceptual model which stands for the use of “Artificial Intelligence based Strategic Human Resource Management for industry 4.0”. This conceptual model developed based on the strategic human resource management theory of “resource-based view of a firm” or “resource advantage theory”.

scholarly journals Keunggulan Bersaing Berkelanjutan Sekolah Alam Berbasis Model Resource-Based View

2020 ◽  
Vol 4 (1) ◽  
pp. 73
Author(s):  
Abdul Kholik ◽  
Sobrul Laeli
Keyword(s):  
Human Capital ◽  
Competitive Advantage ◽  
Intellectual Capital ◽  
Relational Capital ◽  
Sustainable Competitive Advantage ◽  
Resource Based View

Kompetisi atau persaingan dalam dunia pendidikan di era globalisasi merupakan suatu hal yang tidak bisa dielakkan. Dengan adanya persaingan, lembaga pendidikan dihadapkan pada berbagai ancaman dan peluang baik itu eksternal maupun internal sehingga memberikan pengaruh yang cukup besar terhadap keberlangsungan lembaga pendidikan tersebut. Salah satu strategi yang dapat diterapkan lembaga pendidikan khususnya sekolah alam dalam memenangkan persaingan adalah dengan menciptakan Sustainable Competitive Advantage, dan model Reosuce-Based View, yaitu salah satu model yang bisa digunakan untuk mendapatkan keunggulan bersaing secara berkelanjutan. Model ini memandang bahwa organisasi bersaing berdasarkan sumber daya dan kemampuan yang dimilikinya. Perbedaan sumber daya dan kemampuan organisasi dengan organisasi pesaing akan memberikan keuntungan kompetitif untuk mempertahankan keunggulan maupun untuk dapat bertahan di tengah-tengah persaingan. Tujuan penelitian ini adalah ingin melihat lebih dalam tentang bagaimana sekolah alam memaksimalkan sumber daya yang mereka miliki sehingga dapat menciptakan keunggulan bersaing yang berkelanjutan sehingga dapat berkompetisi dengan sekolah lain pada umumnya. Metode yang digunakan dalam penelitian ini adalah deskriptif kualitatif dengan jenis penelitian studi kasus. Data primer dikumpulkan dengan studi lapangan yang menggunakan teknik observasi, wawancara mendalam dan kuesioner. Data sekunder dikumpulkan dengan desk study terhadap literatur dan dokumen terkait. Hasil penelitian ini menunjukkan bahwa Sekolah alam Al-Giva menciptakan keunggulan bersaing secara berkelanjutan (Sustainable Competitive Advantage) dengan cara memaksimalkan intellectual capital atau sumber daya internal tidak berwujud yang meliputi human capital, structrual capital, dan relational capital.  Dari ketiga aspek inilah keunggulan bersaing secara berkelanjutan didapat, karena ketiga aspek ini sama-sama bernilai, langka, sulit ditiru, dan tidak dapat digantikan. Nilai kebaruan dalam penelitian ini adalah memotret implementasi model resource-based view di sekolah alam dalam menciptakan sustainable competitive advantage.

Human Capital Management for Sustainable Competitive Advantage in the New Economy

2009 ◽  
pp. 441-450
Author(s):  
Benjamin Oyegoke Akinyemi
Keyword(s):  
Human Capital ◽  
Competitive Advantage ◽  
Human Resource ◽  
Critical Role ◽  
New Economy ◽  
Sustainable Competitive Advantage ◽  
Capital Management ◽  
Human Capital Management ◽  
Competitive Edge ◽  
Primary Means

The critical role of human capital (HC) in creating and sustaining the competitive edge at organizational and national levels is recognized by researchers and practitioners. Human resource (HR) is the major driver of organizational success and the principal element that makes a business. Financial resources and technology are essential but people are the primary means by which progress is made. Leveraging, therefore, the HC to gain and sustain competitive advantage in an environment of accelerated pace of change is highly imperative. The purpose of this article is to discuss the significance and leveraging of human capital (HC) for sustainable competitive advantage (SCA) in the new economy. It gives an overview of the human capital management (HCM) concept, distinguishing it from personnel management and human resource management (HRM) and discusses HCM’s significant role as key differentiator for organizational SCA.

scholarly journals INTEGRATING HUMAN RESOURCE DEVELOPMENT AND KNOWLEDGE MANAGEMENT FOR SUSTAINABLE BOTSWANA PUBLIC SECTOR PERFORMANCE

2021 ◽  
Vol 53 (4) ◽  
pp. 105-120
Author(s):  
Theophilus Tshukudu ◽  
Keyword(s):  
Human Capital ◽  
Knowledge Management ◽  
Competitive Advantage ◽  
Human Resource Development ◽  
Human Resource ◽  
Information Needs ◽  
Resource Development ◽  
Sustainable Competitive Advantage ◽  
Training Development ◽  
Catch Up

Human resource development and knowledge management are increasingly becoming influential disciplines which are critical to the survival and success of organizations. Human capital resources are key for organizations to gain competitive advantage. With the spread of information and worldwide communications, competitive advantage based on only technology and on only human resources development strategies may only be maintained for short periods of time before competitors catch up. The only source of sustainable competitive advantage is to learn faster and more creatively than competing organizations. That could only be achieved through the swift and effective HRD strategies combined with knowledge management. It has been established that through learning, training, development, knowledge and knowledge management can organizations thrive through human capital. Helping people grow by empowering them with knowledge in a way boosts performance in a sustainable way. To memorize information for extended periods of time is not practical, it is telling that information needs to be stored (managed properly) for reference and for sustainability

scholarly journals Talent Mobility Program: Diagnostic Process and Facilitating Systemic Change at the Telkom Group

2020 ◽  
Vol 2 (3) ◽  
pp. 251-256
Author(s):  
Soraya Agustina Situmorang ◽  
Lelo Yosep Laurentius ◽  
Hendry Hartono
Keyword(s):  
Human Capital ◽  
Human Resources ◽  
Human Resource ◽  
Business Strategy ◽  
Systemic Change ◽  
Group Analysis ◽  
Diagnostic Process ◽  
Sustainable Competitive Advantage ◽  
Product Model ◽  
Critical Position

This study aims to understand that the talent mobility program in the Telkom group is a strategy, process and practice of human resources. This qualitative study evaluates the talent mobility program with the 2017-2019 CIPP (Context, Input, Process, Product) model in the Telkom Group. Data were collected through document studies, observations, questionnaires, FGDs from former program participants, program participants, and in-depth interviews with Telkom Group Human Capital Management Director, TELKOMSEL Vice President People Development, Telkom Indonesia International Finance & Human Capital Director, and Chair of the Trade Unions Telkom Group. Analysis and interpretation of data shows that (1) the program contributes to assessing the effects of the human resource strategy on the Telkom Group's business strategy; (2) The program has dynamic planning and human resource control so that it is integrated with the business strategy and critical position in the Telkom Group; (3) The program is a method of accounting for human resources, namely the calculation of investments made to recruit, evaluate and train the potential of top talent to create a sustainable competitive advantage of the Telkom Group; and (4) The talent pool system in the program serves to accommodate the recognition of the needs, goals, and achievements of the top talent in the Telkom Group. The findings lead to a recommendation that the long-term organization availability of the Telkom Group depends on this talent mobility program. This is because the talent mobility program is a diagnostic process and facilitates systemic change in the Telkom Group through human capital.

scholarly journals Realizing Sustainable Organizational Competitive Advantage by encouraging Sustainable Human Resource Development

2019 ◽  
Vol 2 (1) ◽  
pp. 85-93
Author(s):  
Budiman
Keyword(s):  
Human Capital ◽  
Human Resources ◽  
Competitive Advantage ◽  
Human Resource Development ◽  
Human Resource ◽  
High Performance ◽  
Resource Development ◽  
Management Support ◽  
Sustainable Competitive Advantage ◽  
The Times

The competition is so tight that the company must have a competitive advantage. One of the biggest drivers of a strategic edge is the human capital it provides. In the past, human resources is merely a service operation as a competitive advantage for an organization. Yet, human capital is now one of the most critical aspects of building a competitive advantage. This paper discusses how human resource development strategies have a sustainable competitive advantage and how to transfer good strategies, policies, or superior knowledge to subordinates. This research employs a qualitative approach to the discussion of the data produced by the method of explanation. The findings indicate that high-performance human capital can respond to the times are needed to achieve a sustainable competitive edge. For this reason, sustainable human resource development is required by taking into account several things, namely: integration of HR activities with the company's mission and objectives, environmental observation; management support for HR; formulating and implementing HR policies and plans; alignment of HR with its activities; expanding the role of human resources by holding specialist training according to their talents following the ideals of the company and evaluation of the individual's own contribution.

Reassessing the Export Competitiveness of Vietnam

2019 ◽  
Vol 5 (5) ◽  
pp. 539-549
Keyword(s):  
Human Capital ◽  
Comparative Advantage ◽  
Value Added ◽  
Industry Trade ◽  
Export Competitiveness

In this paper, primarily the export specialisation pattern of Vietnam has been examined from the perspective of domestic value added exports. In addition, an effort has been made to identify presence of exaggeration in gross exports measures of industries level competitiveness. Empirical findings suggest that the export specialisation of Vietnam has reversed, and there is presence of exaggeration in the estimates of comparative advantage of ‘human capital and technology intensive’ industries that has also caused in ballooning up their shares in gross exports. Such pattern has arisen because intra-industry trade has become increasingly significant in Vietnam. Received 11th March 2019; Revised 17th October 2019, Accepted 20th October 2019

Combination of human resource management methods during in times of change

2020 ◽  
pp. 144-150
Author(s):  
V.A. Morozov
Keyword(s):  
Human Capital ◽  
Resource Management ◽  
Human Resource Management ◽  
Crisis Management ◽  
Human Resource ◽  
Management Strategies ◽  
Strategic Human Resource Management ◽  
Crisis Period

This article focuses on the aspects of human resource management strategies in crisis management, as well as the comparison of classical and modern ways to overcome the consequences of crises for human capital. The possible consequences of ongoing and possible crises, as well as ways to prevent and overcome them, are investigated. Personnel strategies in human resource management are disclosed. The presentation of strategic human resource management in a crisis period is given.

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