Past year answers for Human Resource Management
بسم الله الرحمن الرحيم *UiTM paper Please re-check the answers befor you use it as your references or for your revision as all of these are being answered by students. PAST YEAR ANSWERS JUNE 2014 (PART B): QUESTION 1 What are the 5 ways to build human capital so it becomes the competitive advantage of the organization? Definition of competitive advantage An advantage that a firm has over its competitors, that allow it to generate greater sales or margins and/or to get more customers than its competitors. There can be many types of competitive advantages such as the firm’s cost structure, product offerings, distribution network and customer support. Define human capital A measure of the economic value of an employee’s skill set. This measure builds on the basic production input of labour measure where all labour is thought to be equal. The concept of human capital recognizes that not all labour is equal. The quality of employees can be improved by investing in them...