Managing Human Resources

TOPIC : COMPETITIVE ADVANTAGE.

PRESENTED BY : S. ADITHYA RAJU
Meaning :
:
A competitive advantage is an attribute that enables a company to outperform its
competitors. This allows a company to achieve superior margins compared to its
competition and generates value for the company .

A competitive advantage may include access to highly skilled labor, geographic

location, high entry barriers, and access to new technology.
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Key takeaways:

1. Competitive advantage is what makes an entity's products or services more

desirable to customers than that of any other rival.

2. Competitive advantages can be broken down into comparative advantages and

differential advantages.

3. Comparative advantage is a company's ability to produce something more

efficiently than a rival, which leads to greater profit margins.

4. A differential advantage is when a company's products are seen as both unique

and of higher quality, relative to those of a competitor.
Importance

1.
:A clear pathway for organization's competitive advantage.
2. Helps the organization increase its performance.

3. Allows to focus on resources (time, talent, and treasure) for maximum ROI.

4. Adds consistency and predictability to the revenue streams.

5. Helps to achieve organizational momentum.

6. Reduces unnecessary marketing, recruiting, and fundraising expenditures.

7. Helps to gain talent, brand alliances, and issue-focused investors (donors, foundations).

8. Helps in accurately measuring progress.

How HR Plays Important Role in Competitive Advantage:
:
1.HR can use data to analyze turnover rates and determine where problems may lie
2.HRcan help managers source the right talent to get the skills the company needs to
grow and be competitive. 
3.HR can provide insight into the going market rates for talent
4.HR can give insights into how other organizations within your industry are structured
5.HR can use data to show how the skill sets of the employees are evolving over time.
6.HRcan also design employee development pathways that consider the strategic and
long-term needs of the organization.
7.HR can use data to find potential employee issues before they become problematic.
8.HR can analyze which employees are high performers and alert the management
9.HR guidance on legal issues can keep the organization out of costly legal problems. 
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