Post on 04-Apr-2018
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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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