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  • Essay / Essay on Resource Based View - 1718

    IntroductionIn the globalized world we now live in, economies are growing rapidly, in turn pushing businesses to compete in the provision of products and services. The best services and products have been produced due to the increase in the improvement of human resources. A company must implement unique survival techniques in its environment to gain a competitive advantage. The sources eventually shifted from financial resources to technological resources and now to human capital. These propose that the success of a business depends on employee attitudes, skills and competencies. It is the ability to build trust and confidence, communicate effectively, and work within a diverse group (Armstrong, 2010). This essay will take a close look at how the Resource-Based View (RBV) helps organizations create resources critical to maintaining competitive advantage. First, the key concepts used in the essay will be defined. Second, human resource models will be identified and then discussed in depth on how they contribute to generating sustainable competitive advantage. Finally, a conclusion will be presented.Key Concepts DefinedResource Based View (RBV) is a theory representing a principle that a company's source of competitive advantage lies in its internal resources. Thus, within a firm, certain types of resources are owned and controlled and have the potential to generate competitive advantage and increase performance through resource scarcity and imitability (Ainuddin et al., 2007 ). Competitive value can be enhanced or eradicated by factors in the external environment (Songonuga, 2007). According to Barney (2002), firm resources consist of possessions, capabilities, organization...... middle of paper...... ed: Kogan page. Barney, j. B. (2002). Obtain a sustainable competitive advantage. 4th ed. Prentice Hall: Houghton Mifflin. Barney, J.B. (1991). Firm resources and sustained competitive advantage. Management Journal. 17(1):99-120. Australia: Griffith University. Crilly, T, Jashapara, A., Trenholm, S., Peckham, A., Currie, G. and Ferlie, E. (2013). knowledge mobilization in healthcare organizations; synthesize evidence and theory using organizational form, resource-based view of the firm, and critical agenda perspectives. NHIR Service Delivery and Organization Program; 2013Davidson, M., C., G, McPhail, R and Barry, S. (2011). Hospitality HRM: past, future and future. Center for innovation in tourism, sport and services. 23(4): 499-503, Texas A&M University. Edgar, F and Gare, A. (2005). HRM practices and employee attitudes: different measures – different results. 34(5): 534-549,622