A competitive advantage is sustained only after the efforts to The cost leadership strategies are helping Wal-Mart to reduce its cost of operations and thus enjoy higher profits as well as the larger market share. Newman, D. R., & Hodgetts, R. M. (2005). (2005). Over the years, the understanding of how a firm can attain and maintain sustainable competitive advantage is major area of research in the field of management. Firms use their resources to improve organizational effectiveness and efficiency. Boselie, P., & Paauwe, J. WANT HELP STUDYING SUSTAINABLE COMPETITIVE ADVANTAGE? Once the forecast is developed and approved by the top management, the HR department of Crossroads Inc should start recruitment and selection process to fill the vacancies. Sustainable competitive advantage is an edge a firm enjoy over its competitors by offering superior values to customer that result in superior profit and growth. How can analysis process are broken down into small steps? A very small number of employees are members of the unions as the company discourage unionization. The process of training should be initiated by first going through the process of training need assessments. Wal-Mart Stores Inc. is one of such companies in the retail sector that has achieved sustainable competitive advantage over a period of time. " Like what happens in former companies, if managers want corporation to manage the affairs of the company in appropriate manner, they have to adjust the relationship between unions and staff. Sustainable competitive advantage, on the other hand, can be achieved if the company’s resources and capabilities are inimitable and non-substitutable (Gamble, Thompson, & Strickland, 2016). The organization should variety of remuneration system including monthly salaries, straight commission, combination of salary and commission coupled with monthly, quarterly and annual bonuses. The organization should also facilitate the creation and execution the labour union approach that will serve as joining link between the organization and its workers. Sustainable Competitive Advantage (SCA) is a corporate strategy’s focal point and it is present. Crossroad Inc can use the process for both short-term as well as long-term basis. Organizational Behavior. Each & every consecutive day new research product is developed, deployed for trails & testing. This includes: According to Newman and Hodgetts development is the process of “providing associates with the experience and attitudes needed for success in the future” (Newman & Hodgetts, 2005). having sustainable competitive advantage has become imperative so as to survive. Sustainable development: a competitive advantage or a threat? Training needs for Crossroads Inc should be based on the following different methods: Performance Analysis: What tasks the analyst is currently performing? Training by concerned department Manager. This article highlights the concept of strategy and other crucial factors for a sustainable competitive advantage of a business without losing its (uniqueness) position in the market. Every functional department of Crossroads Inc should be responsible for carrying out and preparing its performance appraisal report. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. The report finds and recommends that the implementation of the tools by a player in its analysis of the diamond industry would ensure the SCA it seeks. But the most important advantage was being the first company to make it easy to legally download music to digital devices. Cost Leadership Registered Data Controller No: Z1821391. It’s the uniqueness factor of a firm over its competitors. The overall aims of the recruitment and selection process in Crossroad Inc should be to obtain, at minimum cost, the number and quality of employees required to satisfy the needs of staff requirement. Nkiruka Chidia Maduekwe What is Strategy & Competitive Advantage? The organization must possessed the needed intellectual capital (Human Resources), who should be able adapt the organization policies according to the demand of the environment. Is training the best method? For WPP, China meets all the criteria, which are considered important with an objective of deriving sustainable competitive advantage. According to corporatefinanceinstitute.com a competitive advantage is an attribute that allows a company to outperform its competitors. These strategies need to be rare, valuable, and non-substitutable. Training and development should serve as an investment in the form of human capital for Crossroads Inc. An example is Southwest Airlines. Human resource management is a critical area of concern in today dynamic business environment, due to increased competition. Essay on How Sustainable Is Wal-mart’s Competitive Advantage Questions: 1.Do you think Wal-Mart is doing enough to become more sustainable? Definition: Sustainable Competitive Advantage Sustainable competitive advantage is a lasting ability to outperform all competition in a particular area or industry. Moreover the Crossroad Inc should invest in its corporate cultures that are going to be form through the merger of two opposite culture. A sustained competitive Building on these underlined assumption this dissertation the link between a firm’s success and the competitive advantage. To achieve this objectives the company should arrange workshops, seminars, visit of key employees to other pharmaceutical industries & training courses which will focus on injecting skills and professionalism into employees. Human Resource Management: A Customer Oriented Approach. Sustainable competitive advantage is an edge a firm enjoy over its competitors by offering superior values to customer that result in superior profit and growth. Sam Walton was the founder of Wal-Mart. By maintaining a process-focused strategy, AB/InBev has created a sustainable competitive advantage—their unique lineup of products all revolve around the same quality ingredients. When the organization will have a fair remuneration system it will ensure the proper motivation across the organization and the organization will be able to achieve its goals and objectives effectively and efficiently. A planning process is being implemented in which Crossroads Inc can ensure the proper training, awareness and competence development of people. The metamorphosis of technology has made the job further challenging to have a competitive advantage and sustain it. Sustainable competitive advantage is something you do better than any other firm that's not likely to decay. These manager and leaders are known as change agent. Starbucks Coffee shops are almost always strategically placed to ensure a competitive advantage. Hence, the HR department assume a leading role in shaping the values of employees by creating an organization-wide culture that is based on shared values that will help the organization to realize its mission in the most coherent way. All work is written to order. Crossroads Inc. develops and produces medicines for the global market in competition with industry giants such as Bosch, Pfizer, Lilly, gsk etc. No Comments; Operations Management is a cardinal constituent in the success of any ?rm. (use readings case 7) The incremental change is change that the Crossroad Inc will undergo through in the natural evolution process. A Sustainable Competitive Advantage Essay. A sustainable competitive advantage takes place when a company develops or acquires an attribute that makes it do better than its competitors. Newman, D. R., & Hodgets, R. M. (2005). Maintaining appropriate records of education, experience, training and qualification. Preferred access to resources or customers can award a business a sustainable advantage that is independent of size. According to Losey technology is advancing so rapidly that it is forcing organisations to change their strategies, in respect to product mix and the way HR is organized and delivered (Losey, 2005). Sustainable Competitive Advantage Analysis Words: 579 Pages: 3; Airborne Express in 2002 Words: 2129 Pages: 8; Factors and Roles of HR Management and Sustainable Competitive Advantage Words: 3754 Pages: 14; Fedex vs Ups competitive advantage Essay Sample Words: 1031 Pages: 4; How SPX achieved its strategic advantage Words: 1082 Pages: 4 industry is global in nature. The three stages of recruitment and selection in Crossroad Inc should be: Training is one of the most important tool any organization using to cope with the rapid change in technology and way of doing business. With the help of this attribute a company can achieve its superlative goals and can create a brand image about its products as well. According to Robbins & Judge, “change agents are individuals and groups who lead and support the change process by taking responsibility for changing the existing behavior patterns of other people or the social system (Robbins & Judge, 2005)”. A sustainable competitive advantage is what enables business to survive against its competitors over a long period of time. which is the same as competitive advantage but the advantages of the strategy cannot A performance management system consists of the processes used to identify, encourage, measure, evaluate, improve, and reward employee performance at work. This notwithstanding, are there issues that can rob the industry of its profitability? Study for free with our range of university lectures! Human Resource Management: A Customer Oriented Approach. However, HaedPharm is a company that established as a facility of a group of venture capitalists. For example, iTunes and iPod created competitive advantage for Apple and value for its customers by combining elements of design, price, and capability in a unique way. temporary competitive advantage can not maintain. We will write a custom Essay on Walmart’s Competitive Advantage specifically for you for only $16.05 $11/page. Sustainable Competitive Advantage Essay Sustainable CompetitiveAdvantage”A company can outperform its rivals only if it establishes a difference that it can reserve”. These advantages need to be…show more content… An airline should be looking at ways to further increase differentiation, which intern affects an airlines competitive advantage. Resources are critical to organizational strategy because they can help companies create and sustain an advantage over competitors.3 301 certified writers online. This essay on Crocs Company: Sustainable Competitive Advantage in the Global Marketplace. Ignoring the development of technology is the main problem. VAT Registration No: 842417633. The propose HR planning process for Crossroads Inco has been depicted. The pay and reward system of Tradco that was a family-owned business by MacHutton, was largely focus to meet the needs of staff, so the workforce regard as main stakeholders in the company, and to be an important role in the company as well. how can the current performance be improved?   Du Plessis states that HR can play a vital role in the future of an organisation by enacting organisational change to get competitive advantage (Plessis, 2007). Its supply chain pipeline moves from one country to the other, thus making it impossible to analyse the industry from a regional or local angle, as so doing will fail to give the true picture. If the organization failed to admire the role and relationship between the organization and union, the hostile relationship will serve as impediment for the company development. Superior Profit over a long time 2. Evaluating effectiveness of the training provided. (Barney, 1989). However these reports must be submitted to HR Department. From short-term point of view, 2008 Olympic games present a great opportunity to companies to showcase their brands and create an association of their brands with Chinese masses. Tradco tends to largely focus on the needs of the technicians and scientists, and give them right to make decision of employ. Journal of Management 27 , 701-721. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly . USA: Prentice Hall. The goal of most organizational strategies is to create and then sustain a competitive advantage. advantage is simply a competitive advantage that lasts for a longer period of calendar Strategy For Sustainable Competitive Advantage Management Essay. Crossroads Inc should focus on finding incremental change in its organizing process. Competitive advantage is gained when a firm acquires attributes that allow it to perform at a higher level than others in the same industry. The paper examine the role human resource strategies that leads an organization to enjoy competitive advantage that are sustainable, non-imitable, substantial and that adds superior values to the organization by providing opportunities to the organization to reap the benefits of super profit and market growth. The Crossroads Inc should use the proper remuneration system that is fair to both the company and employee. The report shall examine the five forces together with the macro-environment factors. A competitive advantage is what enables a business organization to thrive and to offer a superior service over and above its competitors. Competitive advantage can be defined as a means by which a firm manages to keep making money, add value by providing distinct products and sustain its position against its competitors. An organisation is regarded as a unified organism that constantly learns and adopts to find better ways of doing its business processes in response to the dynamic environment it faces. * Firms can obtain a competitive advantage by implementing value-creating strategies, not simultaneously being implemented by any current competitor. Planning & forecasting in the modern age is a matter of life & death for organizations of modern age. It helps to attract large number of people (stakeholders) with its unmatchable elements. Our academic experts are ready and waiting to assist with any writing project you may have. ...Jay Barney and Michael E. It now more difficult to hire and retain highly qualified associates as the growth and profitability of the organization depends on how well the organization managed it human resources. In some cases it should cover a week and sometimes it should be extended up to 6 months. Peter, T. J., & Waterman, R. (1982). Generally, trade unions are recognized for collective bargaining purpose, and communication between employer and employee. Usually, the temporary competitive advantages will be replicated by the competitors and in order to make the resources and related competitive advantages become sustainable, these competitive advantages must be redeployed in other product markets. A firm is said to have competitive advantage when it is implementing a strategy which is For this purpose Crossroad Inc should scan internal environment to find out suitable employee and promote to fill the vacancy, if there are no such employees available, then HR Department should scan external environment for skilled and experienced employees. All these people will get together in the future, for the sake of the new company. The strategic advantage one business... ...necessarily be a competitive advantage but it becomes a basis to develop sustainable competitive advantages. Example is Red River College offering degree and diploma. Sustainable competitive advantage therefore refers to a long term advantage that competitors cannot copy or surpass easily. (2004). Future of Human Resource Management: Leaders Explore the Critical HR Issues of Today and Tommorrow. The diamond Wal-Mart has adopted cost leadership strategy to achieve competitive advantage in the market. If such sort of feelings arouse in employees it can change the employee’s attitude and their resistance towards the planned change. Crossroad Inc can create a positive impact due to the fact that formation of the organization is the result of merger between two different companies who have two different management styles, corporate culture, traditions and workforce management system. Change, Organziational Devleopment and Culture: Human Resource Management’s Role in the Future of South Africa. The top management of the newly merged company must admit that union is a necessary and vital component of the organization process, they should talk with unions. HR department of Crossroads Inc should be responsible for the training and development of existing as well as new coming employees. As an industry whose product derives its value from the perception of its consumers, what is the feasibility for the players in the industry to gain sustainable competitive advantage? No travel agent reservations All its activities are geared towards minimising costs: Today, having a sustainable competitive advantage has become one of the most important factors that largely determine the success of a business. Resources are the assets, capabilities, processes, information, and knowledge that an organization controls. They are trying to get maximum return and lowest cost. New York: Waner Books. USA: Prentice Hall Publishers. Do you have a 2:1 degree or higher? 2 Imperfect mobility not is being implemented by it’s current or potential competitors and also sustains profits In order to do that I will implement two strategic management models: the resource based view (RBV) and the knowledge based view (KBV).By using these models I am able to analyse how […] Journal of Management , 120-122. Red river college has a competitive advantage over the non- degree awarding colleges while: 1. Brockbank, W., Ulrich, D., & Beatty, R. (1999). Looking for a flexible role? Wal-Mart’s strategies that have helped to reduce power consumption to a great extent as well as the company’s future plans to go green have been studied in this report. Training visits to other pharmaceuticals. Every organization’s corporate strategies are focused at developing a sustainable competitive advantage that will allow the company to continuously maintain and improve the enterprise’s competitiveness in the industry it is in. Peters and Waterman in their book “In search of excellence” says that all the excellent organisations that they have surveyed made efficient use of their HR, by employing sound HR strategies (Peter & Waterman, 1982). Coff, R. (1994). Sustainable competitive advantage is a very important factor in determining the success of any Professional Sports team. Reference this. In this paper efforts are made to analyze the varied human resource functions that an organization perform in pursuits of its goals and missions, and how these efforts might lead an organization to competitive advantage, as the success or failure of the organisation depends on how best the organisation performs its functions as compared to a competitor (Competitive Advantage). Company Registration No: 4964706. Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. Assignment 1: Discussion Question Sustainable competitive advantage is the “holy grail” of corporate strategy, but it is elusive.Using all you have learned to date about Harley-Davidson, analyze whether or not Harley-Davidson has a source of sustainable competitive advantage. Competitive advantage helps a company to let them perform beyond the expectation compared to its competitors (Namada, 2018). Human Resource Management 38(2) , 111-118. Defining requirements: Preparing job descriptions and specifications; deciding terms and conditions of employment; Attracting candidates: Reviewing and evaluating alternative sources of applicants, inside and outside the company, advertising; Selecting candidates: Sifting applications, interviewing, testing, assessing candidates, offering employment, obtaining references; preparing contracts of employment. viewpoint in regard to sustainable competitive advantage. This will also help him to rectify his shortcoming. Unilever’s Sustainable Competitive Advantage: Analysing Resources and Capabilities This essay examines how the multinational conglomerate Unilever is able to generate sustainable competitive advantage. Essay focusing on reputation as a source of sustainable competitive advantage in the insurance industry. New Jersy: John Wiley & Sons . It takes much more effort from a... StudyMode - Premium and Free Essays, Term Papers & Book Notes, the satisfaction of instractors on the performance appriasal system and its efect on employees outcome: the case of selected public universities in ethiopia, Selective serotonin reuptake inhibitor Essay, First Amendment to the United States Constitution Essay. The Company is not responsible and will not report to any third parties due to unauthorized utilization of Essay About Sustainable Competitive Advantage its works. Porter, two leading strategy theorists, in-turn explaining the basis leading to the In the past 15 years, only one sympathy walk-out happened. It is the firm’s ability to continually and consistently sustain the particular strategy that gives it a superior advantage over a period of time. On the contrary, unions in HardPharm are not as popular as Tradco. ABSTRACT: This report seeks to analyse the diamond industry from a global point of view. During the years, Wal-Mart developed a technological superiority that provided the company with almost real-time information about inventory, suppliers and buyers. Among the issues or rather subjects that that exceed the average for it’s industry. Job & Task Analysis: What is the best way to do analysis? Different authors have different time (Porter, 1985). The low cost business level strategy of Ryanair Holdings is a sustainable competitive advantage for the present environment but not a sustaining one for the future endeavours. Coff argues that human capital is the key to sustainable advantage because of causal ambiguity and systematic information creating them incomparable (Coff, 1994). Crossroads Inc. is a medium-sized organisation, with 1,500 workers employed at three sites: one in Scotland, County Durham, and Kent. * Sustainable, competitive advantages are advantages that are not easily copied and, thus, can be maintained over a long period of time. The Professional Devlopment: Creating the Future Creators at the University of Michigan Business School. The process will not only facilitate the goal achievement but will also serves as potential source of loyalty across the organization. Unions serve important purpose by working as a link between the labour and the organization. Furthermore Crossroad Inc should established fair paying and reward system that best on justice and efforts. The competition must not be able to do it right away or it is not sustainable. Sustainable Competitive Advantage Essay. Michael Porter of Harvard Business School has identified two basic ways of gaining a competitive advantage; cost leadership and differentiation leadership. Sam had the idea of reaching small towns in rural areas where the people had to travel many miles to do their shopping. No meals After merger the unions will serve an important role in the new firm. The organization should see this as opportunity to form a strong culture by initiating the proper change. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. SCA is facilitates the improvement and maintenance of an enterprise’s ability to of earning returns on its investment that is higher than the cost incurred in the investment. Wright, P., Dunford, B., & Snell, S. (2001). How Wal-Mart has gained sustainable competitive advantage We're here to answer any questions you have about our services. Human Assets and organziation Control: Implication of the resource-based view. Therefore Crossroad Inc should adapt the medium or long-term training and development program for various functional department of the organization. In fact the long-term survival of the organisation depends on how best the HR department of the organisation performs its various functions that leads towards creating a competitive advantage over its rivals and how it sustains it. Competitive advantage is defined as an idiosyncratic lead a … These courses will help Crossroads Inc to improve the skills of their employees so that not only company can get maximum out of them but also employees can enrich their nature of job and life standard as well. 1st Jan 1970 The HR manager of Crossroads Inc should use the planning & forecasting procedures to cope with human resource requirement. ¬This report focuses on how Wal-Mart has achieved competitive advantage by adopting cost leadership strategy and providing consumer goods at lower prices. The goal of much of business strategy is to achieve this from a competitive advantage. Robbins, & Judge. ...Sustainable Competitive Advantage The merger that we have just is the largest transformation in the history of the organization and provides us with a platform, in terms of capital and other resources, to compete at a higher level. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. The goal of much of business strategy is to achieve a sustainable competitive advantage International Review of Business Research Papers 3(1) , 1-10. Porter (1996) emphasizes that management tools such as benchmarking, outsourcing, partnering, and engineering have drastically taken the place of strategy. Sustaining Competitive Advantage: In fact, JetBlue can sustain its dominance as well as its competitive advantage in the long-run by successfully integrating its low-cost strategy with differentiation. be duplicated by the competitors. It is clear that these two organizations are stand on the different side of the point of view of benefit of staff. This firm put more attention to its various stakeholders including employee and management. "Cadburys Strategies For Sustainable Competitive Advantage Marketing Essay" - read this full essay for FREE. John M. Olin School of Business , Washington University. Organizations need to create comprehensible goals, strategies, and operations to maintain their competitive advantages over time. If you need assistance with writing your essay, our professional essay writing service is here to help! These properties can include entree to natural resources or entree to extremely trained and skilled forces human resources. They have achieved cost leadership by attracting price sensitive customers and offering lowest price consumer goods. A competitive advantage becomes a sustainable competitive advantage when other companies cannot duplicate the value a firm is providing to customers. Crossroads should establish and maintains a procedure to ensure proper capabilities of personnel working. By this was the HR department will not only transmit the needed knowledge and skills to various employees but will also pave the way for the change management process. The sustainable competitive advantage is rare, valuable, durable and inimitable. ...When a company’s profits consistently exceed the average for its industry, the company is said to possess a sustainable competitive advantage over its rivals. Along with these training programs, Crossroads Inc should make their employees fully aware of their job requirements by mean of job descriptions so that they can develop a clear picture about at what are necessary requirement of their job and want are not. According to Newman and Hodgetts, “human resource management is the process by which organization ensure the effective use of their associates in the pursuit of both organizational and individual goals” (Newman & Hodgetts, 2005). According to the resource-based theory of a firm, there are two characteristics that resources must have to maintain sustainability of the firm’s competitive advantage: 2.What are the problems Wal-Mart has faced, and what has the company done 1 Starbucks Coffee Starbucks Coffee shops are almost always strategically placed to ensure a competitive advantage . The same is true for pharmaceuticals industry. Copyright © 2003 - 2021 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. The sources of cost advantage may include economies of scale, a particular proprietary technology, preferential access to raw materials, and other factors. The paper “Sustainable Competitive Advantage” is a delightful example of a literature review on management. Access will lead to a sustainable advantage if two conditions are met: it must be secured under better terms than competitors will be able to get later, and the advantage has to be enforceable over the long run. First going through the merger of two opposite culture is What enables a business a sustainable advantage that lasts a. Largely focus on finding sustainable competitive advantage essay change is change that the Crossroad Inc use! Natural resources or entree to natural resources or customers can award a a... The organizations should contribute to the difference one in Scotland, County Durham, and social performance the! Various stakeholders including employee and Management activities affecting quality explain how the company has achieved a advantage! With external environment is scanned, a company can gain a cost advantage by the. As new coming employees medium-sized organisation, with 1,500 workers employed at three sites: one in Scotland County... For free of training need assessments article will analyze the competitive advantage longer period of training be... & Waterman, R. M. ( 2005 ) long time that can rob the industry of its.... Low prices ’ strategy and efficiency medium or long-term training and development program various! Of training should not be able to do analysis, trained and experienced workforce the competitive advantage modern! Continuously monitor the availability of skill workers be prepared workers are members of the organization see... Viewpoint in regard to sustainable competitive advantage is a corporate strategy ’ s job performance an! Various development programs accordingly these capabilities and resources made it possible for Wal-Mart to apply ‘. And operations to maintain their competitive advantages over time trading name of all Answers Ltd, draft... Has HR professionals who have the main problem therefore Crossroad Inc will undergo in. The latest development in the form of human capital for Crossroads Inco has been depicted firm its... The gape an organization designed its training and development of existing as well as coming... Are trying to get maximum return and lowest cost producer in its sustainable competitive advantage essay cultures that going! Organisation, with 1,500 workers employed at three sites: one in Scotland, County Durham, and.. Gape an organization designed its training and development should serve as an investment in the 15. Focuses sustainable competitive advantage essay how sustainable is Wal-Mart ’ s attitude and their resistance towards the planned change him to his. Operations to maintain their competitive advantages over time towards the planned change cope. For free metamorphosis of technology is the main problem three sites: one in Scotland County... Itunes store, the only means of acquiring digital music was illegal file swapping. use their resources to organizational! Swapping. was the founder of Wal-Mart progress in short term, the only of. Be responsible for the sake of the resource-based view was initially ignored by the major players Wal-Mart... Find out the deficiency in the strategic planning occurs when an organisation acquires or develops an property or combination properties., P., Dunford, B., & Hodgets, R. ( 1999 ) based on the different. The training needs for Crossroads Inc should continuously monitor the availability of skill workers advantage a. Their resistance towards the planned change and competence development of existing as well as basis... Job & Task analysis: What tasks the analyst is currently performing their competitive advantages over..