Skill-based competition

Article Abstract:

The management of technical skills is becoming more important in the survival of business firms. When a firm hires personnel, it acquires the raw skills of its people, skills that must be developed to produce the firm's products and t accomplish its objectives. In order to compete effectively, firms must decisively manage their employee skillbase. Firms should audit their skillbase management and ask whether certain skills are being adversely affected by outmoded corporate structures. The skills of competitors should be monitored in order to determine their competitive competence. The firm as a whole should realize that skillbase management should incorporate the disciplines of human resource management and capital budgeting. Lastly, firms should take into account the concept of metaskills, skills that develop and build up core skills. Metaskills enable firms to update and innovate their skillbase.

Training, Production management, Employee training

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Approaching acquisitions strategically

Article Abstract:

A strategic method of corporate acquisitions planning could improve the chances of success. A strategic acquisitions framework is offered with seven steps: formulating strategy, analyzing the acquiring company, assessing the role of acquisition in the acquiring company, coming up with acquisition criteria, selecting industry sectors for research, screening and choosing possible acquisition targets, and integrating the acquisition. It is recommended that companies acquired for investment purposes be allowed maximum operating independence.

Planning, Usage, Acquisitions and mergers, Strategic planning (Business)

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A reappraisal of HRM models in Britain

Article Abstract:

Five different models of human resource management are examined and evaluated in this article. They are the matching model, focusing on resources; the Harvard model, focusing on employer-employee relationships; the contextual model, focusing on strategy; the 5-P model, focusing on philosophies, policies, programs, practices and processes; and the European model, focusing on restraints on corporate autonomy.

United Kingdom, Personnel Administration NEC, Statistical Data Included, Models

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