ABSTRACT: This report seeks to analyse the diamond industry from a global point of view. In the interest of the new company, all of these two should change their pay and reward system. Today, having a sustainable competitive advantage has become one of the most important factors that largely determine the success of a business. 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. " Employee’s job performance is an important issue for all employers. " Fast turnaround so planes are in the air longer Is Competitive Advantage enough? This firm put more attention to its various stakeholders including employee and management. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly . * Sustainable, competitive advantages are advantages that are not easily copied and, thus, can be maintained over a long period of time. The core of their success was defined by their technological superiority and the way Wal-Mart treats her associates (customers, employees and suppliers). Crossroads Inc. is a medium-sized organisation, with 1,500 workers employed at three sites: one in Scotland, County Durham, and Kent. Looking for a flexible role? 1 Starbucks Coffee Starbucks Coffee shops are almost always strategically placed to ensure a competitive advantage . This essay on Crocs Company: Sustainable Competitive Advantage in the Global Marketplace. Strategy For Sustainable Competitive Advantage Management Essay. Competitive advantage is gained when a firm acquires attributes that allow it to perform at a higher level than others in the same industry. If staff is required then the company should try to find them inside the company by upgrading their employees if it not possible then new jobs are created and fill by the outside market. 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. Contemporary, if there are no unions, or company does not recognize unions, then leaders would not know the needs of staff, they could not adjust the management detail. Training needs for Crossroads Inc should be based on the following different methods: Performance Analysis: What tasks the analyst is currently performing? ...Sustainable Competitive Advantage Moreover the Crossroad Inc should invest in its corporate cultures that are going to be form through the merger of two opposite culture. Planning & forecasting in the modern age is a matter of life & death for organizations of modern age. Using SWOT analysis helps in identifying areas in which the business has … 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. Sam had the idea of reaching small towns in rural areas where the people had to travel many miles to do their shopping. We're here to answer any questions you have about our services. 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: Every functional department of Crossroads Inc should be responsible for carrying out and preparing its performance appraisal report. The new company should understand that the training and development program should be designed by utilizing the latest available methods that has proved its efficiency in the pharmaceutical firm. The strategic advantage one business... ...necessarily be a competitive advantage but it becomes a basis to develop sustainable competitive advantages. Crossroads should establish and maintains a procedure to ensure proper capabilities of personnel working. The report shall examine the five forces together with the macro-environment factors. 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). The objective is to provide people with knowledge and skill, which, together with experience, improve their competence and capabilities. John M. Olin School of Business , Washington University. Michael Porter’s Viewpoint... ...Case 8: Sustaining Competitive advantage Like all good plans, HR Manager of Crossroad Inc should builds employment plans on premises basic assumptions for employment requirement by forecasting three things: The HR department should first check that either there is any job placement or company is expanding their business so that new jobs are open for new candidates. The process will not only facilitate the goal achievement but will also serves as potential source of loyalty across the organization. 2 Imperfect mobility Human Resource Management 38(2) , 111-118. ...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. 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. Ensuring that employees are aware of the relevance and importance of their activities and how they contribute to the achievement of the quality objectives. These issues should be tackled by the HR Manger. Robbins, & Judge. Human Resource and the Resource Based View of the Firm. When a new employee is selected, an orientation of the new employees should be conducted… Orientation is basically a one to two hour activity in which the new employees should be informed about the organizational structure, term & conditions of employment, the duties of incumbent, the ethical & behavioural requirement for the new employee and the so. According to Boselie and Paauwe (2004), top performing firms has HR professionals who have the main input in the strategic planning. (Prior to the iTunes store, the only means of acquiring digital music was illegal file swapping.) This was a big market that was initially ignored by the major players before Wal-Mart. 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. Training by concerned department Manager. temporary competitive advantage can not maintain. 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. A company can gain a cost advantage by becoming the lowest cost producer in its industry. 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. If such sort of feelings arouse in employees it can change the employee’s attitude and their resistance towards the planned change. Plessis, D. (2007). 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. Human resource management is a critical area of concern in today dynamic business environment, due to increased competition. The process of product innovation that. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. It is for this reason organization plan and forecast for human resource so as to remain competitive. Training and development should serve as an investment in the form of human capital for Crossroads Inc. 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. This notwithstanding, are there issues that can rob the industry of its profitability? Crossroads Inc. develops and produces medicines for the global market in competition with industry giants such as Bosch, Pfizer, Lilly, gsk etc. 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. 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). 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. advantage is simply a competitive advantage that lasts for a longer period of calendar "Cadburys Strategies For Sustainable Competitive Advantage Marketing Essay" - read this full essay for FREE. Organizations can achieve a competitive advantage by using their resources to provide greater value for customers than competitors can. The performance appraisal system in the company will help the organization to better focus its efforts on the attainment of the organizational goals and objectives by giving timely feedback regarding an individual employee that how best he is going to achieve his objectives. Once the internal environment along with external environment is scanned, a draft forecast should be prepared. VAT Registration No: 842417633. Coff argues that human capital is the key to sustainable advantage because of causal ambiguity and systematic information creating them incomparable (Coff, 1994). Eventually Wal-Mart grew to become market leader among the US discount department stores. The propose HR planning process for Crossroads Inco has been depicted. The training needs assessment find out the deficiency in the current level of skills the employee possessed and the skills that a job required. Providing training or take other actions to address identified needs. 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. 1 Building on these underlined assumption this dissertation the link between a firm’s success and the competitive advantage. all distill down to a variety of quality products that AB/InBev uses to meet their customer demands. (2005). No meals They have achieved cost leadership by attracting price sensitive customers and offering lowest price consumer goods. 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. Newman, D. R., & Hodgetts, R. M. (2005). 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. ...THE DYNAMIC DIAMOND INDUSTRY: IS IT FEASIBLE FOR ITS PLAYERS TO GAIN SUSTAINABLE COMPETITIVE ADVANTAGE? Journal of Management , 120-122. 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. 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. Coff, R. 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