Critically evaluate how the Resource based view approach to HRM can Essay

Critically evaluate how the Resource based view approach to HRM can help or fail to produce the performance outcomes an organisation requires - Essay Example isting resources within an organisation and in a new way instead of acquiring new skills for each new opportunity that presents itself in the business environment is ideal to improving organisational performance. Where organisations focus on RBV approach, resources are ideal in enabling the organisation to achieve better performance. In applying RBV approach, two types of resources are available for organisation to use to exploit opportunities in the business environment; this includes the tangible and intangible resources. However, tangible resources can be accessed easily in the market and as such; they bring little advantage for organisations when considered in the long-term basis since competitors can acquire the same resources. On the other hand, intangible resources denote resources that are not physical and those that are at the disposal of the organisation to use in improving performance. For instance, an organisation can use brand name or trademark to create uniqueness over competitors (Wright, Dunford & Snell, p.711). In essence, it is impossible for competitors to buy brand reputation of other firms in an attempt to improve their competitive nature in the business environment. Conversely, while RBV aid in improving an organisation’s competitive edge, it has to be noted that for such goal to be realised, the approach has to consider two critical assumptions that include heterogeneity and immobility (Colbert 2004, p.351). This paper examines how RBV approach to human resource management can help or fail to produce the performance outcomes that an organisation requires. RBV approach to human resource management proposes the view that various resources within an organisation are the key to realising positive outcomes and this includes human capital or resources. These internal resources are also viewed as important in providing an organisation the required competitive advantage in the business environment. This is because when resources within an

Economics by Boyd and Smith Assignment Example | Topics and Well Written Essays - 1000 words

Economics by Boyd and Smith - Assignment Example According to the paper a store of value such that it holds its own value over a longer duration of time, although it does not elevate money so superior because there are other stores of value such as land. However, it is a portable store of value that is available in various convenient denominations, and lastly, it is a unit of account that provides a common measure for the value of commodities and services in exchange, which enables buyers and sellers to know how much of the goods to sell or purchase. Â  Federal eserve controls the money supply by : Setting the reserve requirement for banks, through buying and selling treasury bills and notes and by moderating the supply of money through lowering or raising the interest rates which are passed to the banks and finally to the consumers. This discussion outlines that the assumption of constant velocity implies that if an assumption is additional, the money velocity is constant, and then the equation yields a fundamental theory of the money effects known as the money’s quantity theory useful in determining the nominal GDP. Raising the inflation from 6 to 8 percent will mean that the currencys interest rate catches up with the higher inflation rising by 6 points a year from their original value leaving the real return on that currency unchanged. Fiscal and Monetary policies play a role in causing ending hyperinflations, usually done by the central bank or the government to ensure the control of flow of money, and; therefore, minimizing both the exchange rates and the government’s expenditure. The interest rate that is nominal is the stated rate of return on a financial asset e.g. the interest rate that a bank pays on deposition certificate while the real interest rate is the rate, which is nominal on ret urn and one adjusted for inflation.