resource based shrm team work

7/29/2019 Resource Based SHRM Team Work

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RESOURCE BASED STRATEGIC HRM ON

STANDARD CHARTERED


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Question

Critically examine the concept of resources

based strategic HRM, where Standard

Chartered can develop human resources

capable of learning faster, to launch priority

banking


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Competitive Advantage

Competitive advantage is defined as the

strategic advantage one business entity has

over its rival entities within its competitive

industry. Achieving Competitive Advantage

strengthens and positions a business better

within the business environment.


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COMPETITIVE ADVANTAGE


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A competitive advantage exists when the firm is able to deliver the

same benefits as competitors but at a lower cost (cost advantage), ordeliver benefits that exceed those of competing products

(differentiation advantage). Thus, a competitive advantage enables the

firm to create superior value for its customers and superior profits for

itself.

Michael Porter identified two basic types of competitive advantage:

Cost advantage

Differentiation advantage

EG: SONY


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RESOURCES

DISTINCTIVE ADVANTAGE

CAPABILITIES

COST ADVANTAGE OR

DIFFERENTIATION

ADVANTAGE

VALUE CREATION


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ORGANISATION

COMPETITIVE

POSITION

PRODUCTIVITY

FLEXIBILITY

PROVIDING

HIGH LEVEL

CUSTOMER

SERVICE

INNOVATION

SUPERIOR

PERFORMANCE

ORGANISATION COMPETITIVE POSITION


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HARRISON

UNIQUE TANGIBLE AND INTANGIBLE

ASSEST

ULRICH

KNOWLEDGE HAS BECOME DIRECT

COMPETITIVE ADVANTAGE

BARNEY

EXPERIENCE

,KNOWLEDGE,JUDGEMENT,PROPENSIT

Y AND WISDOM OF INDIVIDUALS

ASSOCIATED WITH THE FIRM

KAMOCHE

A BUNDLE OF TANGIBLE AND

INTANGIBLE RESOURCES AND

CAPABILITIES REQUIRED FOR PRODUCT

AND MARKET COMPETITION

VIEW OF DIFFERENT AUTHORS IN RELATION WITH

RESOURCE BASED STRATEGIC HRM:


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History

Standard Chartered was formed in 1969 through amerger of two banks: The Standard Bank of

British South Africa, founded in 1863, and the

Chartered Bank of India, Australia and China,

founded in 1853.

Both companies were keen to capitalize on the

huge expansion of trade and to earn the handsome

profits to be made from financing the movementof goods between Europe, Asia and Africa.


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Chartered Bank

Founded by James Wilson following the grant of a Royal Charter by Queen Victoria

in 1853.

Chartered opened its first branches in Mumbai (Bombay), Kolkata and Shanghai in

1858, followed by Hong Kong and Singapore in 1859.

Traditional trade was in cotton from Mumbai (Bombay), indigo and tea from

Kolkata, rice from Burma, sugar from Java, tobacco from Sumatra, hemp from

Manila and silk from Yokohama.

Played a major role in the development of trade with the East which followed the

opening of the Suez Canal in 1869 and the extension of the telegraph to China in

1871.

In 1957 Chartered Bank bought the Eastern Bank together with the Ionian Bank's

Cyprus Branches. This established a presence in the Gulf.


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Standard Bank

Founded in the Cape Province of South Africa in 1862 by John Paterson. Commenced

business in Port Elizabeth, in January 1863.

Was prominent in financing the development of the diamond fields of Kimberley from

1867 and later extended its network further north to the new town of Johannesburg when

gold was discovered there in 1885.

Expanded in Southern, Central and Eastern Africa and, by 1953, had 600 offices.

In 1965, it merged with the Bank of West Africa, expanding its operations into

Cameroon, Gambia, Ghana, Nigeria and Sierra Leone.


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KEY FACTORS FOR THE SUCCESS OF STANDARD CHARTERED :

One of the key competitive advantage is the ability to differentiate what the

business supplies to its customers from what could be supplied to them by the

competitors.

Standard chartered has achieved competitive advantage by having HR

Strategies which ensure that the organization has higher quality people than its

competitors ,by achieving and nurturing the intellectual capital possessed by the

business and by focusing on organization learning .


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In Standard Chartered Bank, they have five core values that they all work by they

are Courageous, Responsive, International, Creative and Trustworthy and they bring

these to life every day in how they work with their customers, colleagues,

communities, suppliers and the shareholders.

Behaviors they role model to live these values :

Challenging the status quo.

Sharing our learning.

Working collaboratively end-to-end.

Being outcome driven, andDriving sustained continuous improvement in a disciplined and coordinated manner.


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Why We are an Employer of ChoiceInternational mindset to broaden our employees Perspective

International mindset.Exposure to growth markets.

International career opportunities.

Unique footprint.

Performance and achievement culture for our employees to

excel

Superior financial performance.

Performance-based reward and recognition.

Personal and professional satisfaction.

Can-do attitude.

Opportunity to grow and succeed

A great place to learn and grow.

Early responsibility.

Flexibility to plan career growth.

Dynamic and high growth markets.


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resource based shrm team work

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