Critical Article Review: Understanding Management and Business Competition: A Framework for Human Capital Analysis
Knowledge management literature highlights the truth that in the present economy, the attainment of the constant competitive advantage depends on the business&rsquos ability to develop and deploy its understanding-based assets (Rodriquez &lifier Patricia, 2003, 43). Within the article, Rodriquez and Patricia condition that individuals are the most challenging business assets to become controlled (McManus, 2006, 24). Thus, professionals have typically based their competitive methods on additional factors like product and process technology, use of financial assets, financial systems of scale and guarded market niches (Crawford &lifier Cabanis-Brewin, 2005, 12). They check out the means by which business assets are utilized and combined, the reasons which determine the achievement of the sustainable competitive advantage and also the character of obligations produced by business assets (Badiruet al., 2007, 23).
Turner (2007, 16) claims that they notice a firm because the accumulation of unique assets of the diverse character which certain qualities needs to be symbolized to ensure that business assets to become supply of sustainable competitive advantage. Additionally they state that these assets needs to be rare, valuable, without substitutes and hard to mimic (Phillips, 2005, 31). Additionally they state that business understanding that’s used frequently is a that differentiates between tacit and explicit understanding, although you will find a number of other understanding. Tacit understanding is achieved via experience (Levine, 2002, 17). It’s a type of understanding that many of us are thoroughly familiar. In comparison, explicit understanding is sent via formal, systematic language, and switches into the type of software, parents, diagrams, amongst others (Lewis, 2004, 34).
However, despite the fact that individuals are the most challenging business assets to become controlled as stated by Rodriquez and Patricia within the article, those are the most critical business assets too. Thus professionals aren’t designed to search for other alternative as stipulated through the two authors but search for means by which they are able to enhance their performance and efficiency. This really is because of the truth that even when they choose to adopt utilization of technology, people will be still needed to operate and operate that technological system or machines. The authors state that certain characteristic needs to be presented to ensure that business assets to become supply of sustainable competitive advantage. The content does not mention these qualities thus which makes it ineffective.
Badiru, A, Badiru, B, and Badiru, A, 2007, Industrial project management software: concepts, tools, and methods, New You are able to, CRC Press
Crawford, J, and Cabanis-Brewin, J, 2005, Optimizing human capital having a proper project office: choose, train, measure, and reward people for organization success, Oxford, Auerbach Guides
Levine, H, 2002, Practical project management software: tips, tactics, and tools, New You are able to, John Wiley and Sons
Lewis, J, 2004, Team-Based Project Management Software, Washington, Beard Books.
McManus, J, 2006, Leadership: project and human capital management, New You are able to: Butterworth-Heinemann
Phillips, J, 2005, Trading inside your company’s human capital: methods to prevent investing not enough–or an excessive amount of, Washington, AMACOM Div American Mgmt Assn.
Rodriquez, J, and Patricia, P, 2003, Understanding Management and Business Competition: A Framework for Human Capital Analysis, Journal of Understanding Management, V (7), No. (3), 2003, 82-91
Turner, R, 2007, Gower guide of project management software, New You are able to, Gower Posting, Ltd.