Human Resource Management: Jay Barney's Sustainable Competitive Advantage
Essay on Barney’s sustainable competitive advantage 1991
According to the Strategic Management Society (2017) Jay Barney is a presidential Professor of Strategic Management and Pierre Lassonde Chair of Social Entrepreneurship at the University of Utah. He is an American professor and has a great contribution in the field of strategic management. In 1991, Jay Barney came up with a new theory “Firm resources and sustained competitive advantage.” According to Barney (1991) resources that are valuable, rare, inimitable and non- substitutable are sources of a firm’s competitive advantage if used efficiently and effectively. And this has been regarded as the resource based view (RBV) in the field of strategic management which is different from the attractiveness of external and internal environment analysis of porter’s five forces of competition (1979). Even today also many organization regards resource based view (RBV) as the contributing factor for the in depth knowledge about the available resources and the sustained competitive advantage including human resource management (HRM). Therefore this essay is about the contribution of Barney in the field of human resource management and the relationship of strategic human resource management along with the sustainable competitive advantage.
I will like to explain the Barney’s (RBV) resource based view model along with the diagram below: Fig: Barney’s Resource Based View (RBV)
From the above figure it is clear that to have the
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