Business Development When Considering Whether Term Paper

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However, in combination with other resources and capabilities, they can enable a firm to realize its full competitive advantage.

In conclusion, states Barney, sustained competitive advantage depends on the unique resources and capabilities that a firm brings to competition in its environment. Managers must look inside their firm for valuable, rare and costly-to-imitate resources, and then exploit these resources through their organization.

What this means is that a company has to make the most of its talent -- the men and women who are committed to help the organization succeed. Too often, a firm forgets that these unique individuals can make or break the future of a company. In many cases an organization has people who are more bored or tired than empowered, more distrustful than energized. Even worse, in too many organizations, very little managerial focus is on the concerns of how to build employee capability and motivation.

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In so many companies, essential and valuable human capital is being misused or not used at all.

When companies started looking for answers and developed the SWOT approach for a sustainable advantage with external competition, some lost sight that that competency-based strategies are dependent on people: The bottom line: people are the essential strategic resource, and an organizations strategy must be built on a strong human resource foundation. As increasing numbers of companies recognize this important point, they will place more value in their employees and truly realize the potential they have within their organization.

Reference Barney, Jay B. Looking inside for competitive advantage

The Academy of Management Executive. (Nov 1995).9.4; pg. 49-62.....

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