Human capital

Posted by Melda Research on February 20th, 2019

Question 1
Agree. Human capital is the most value asset an organization can have. In a knowledge and service-based economy such as the one existing today, human capital has been increasingly recognized as one of the major keys to competitive advantage. Skills and abilities are necessary for a given organization but are not generally applicable elsewhere. (Susan et al., 2003) The resource-based view of the firm recognizes that human capital contribute to competitive advantage due to its distinctiveness based on its firm-specific, intangible and socially complex nature. Therefore, proper management of human capital is important to sustain an organization in the competitive global environment. (Echols, 2006)

Question 2
The ability to retain employees in an organization is critical to its survival. While a moderate level of staff turnover can benefit the organization in terms of fresh approaches and ideas, an organization requires a strategy in place to retain high performers that provide it with its competitive advantage. It cannot afford to lose great talent. There are various reasons employee retention is critical to the survival of a firm. First, employee turnover is very costly as it could harm the reputation of the business and lower internal morale. Secondly, hiring is not an easy process as recruiting the right candidate is a time-consuming process. The business has to spend money and time for his overall development. Thirdly, an individual who leaves the organization is more likely to join the competitors. Employees, therefore, take all the policies, important information and strategies from the organization to its competitors. Additionally, employees who stay long with the organization perform better as they are more familiar with guidelines and policies. New employees take the time to adjust accordingly due to the learning curve effect. Organizations should therefore employee techniques to retain employees as a survival tactic. (Musser, 2001)
Question 3
Limitations are conditions, shortcomings or influences that the researcher cannot control. They place restrictions on the methodology and conclusions that a researcher uses or makes in a study. They include those characteristics of methodology or design that impact or influence the interpretation or application of the results of a study. They constraint the utility and generalizability of findings that are determined by the ways in which a researcher chooses to design a study and the method used to determine internal and external validity. The researcher is therefore required to mention any limitations that influence the results. (Tracy, 2012)
Question 4
Sustainability is important in business. Business sustainability entails the management and coordination of financial, social and environmental demands and concerns to ensure ethical responsibility and continuing success. In a broader sense, economic, social, and environmental demands are considered as the pillars of sustainability. They are at times referred to as the triple bottom line within the corporate world. A sustainability concept is a different approach from the traditional one that assesses all efforts in terms of their immediate effect on profits.
In traditional corporate cultures, environmental and concerns have often been seen as those that conflict with financial goals. For example, depletion of non-renewable resources is obviously not a sustainable practice. However, since alternatives normally require investments in infrastructure, the continued reliance on fossil fuels is the least costly short-term option. The objective of sustainability calls for a more extended timeline for return on investment. However, once initial investments are made, they can essentially lead to improved profitability. Similarly, investments in sustainable practices may initially cost a business large amount of funds but eventually lead to enhanced public image; public relations, recruitment and branding that all tend to lead to increased profitability. (Gomes et al., 2015)
Question 5
Semi-structured interviews are useful tools commonly used in gathering data for a research study. These types of interviews are conducted with a fairly open framework that allow for, conversational, focused two-way communication. Semi-structured interviews can be used both to provide and receive information. By utilizing this type of data collection, the interviewer has prepares a set of questions in advance and aims the interview to be in the form of a conversation. (Galletta, 2013) Consequently, the interviewer can alter the wording of the questions or order in which they are placed. Additionally, the interviewer can explain or depart from questions that may appear redundant. (Wengraf, 2001) However, not all questions are set and phrased prior to the interview. The greater part of the questions is created at some point in the interview, allowing the interviewer and the interviewee the flexibility to engage in discussion and probe for details. The person conducting the interview follows the guide and also follows typical trajectories in the process that may drift from the guide when appropriate. A semi-structured interview is important in a research study due to its nature that allows the interviewee to talk openly and freely while ensuring they get the in-depth information necessary for the study. They, therefore, provide comparable and reliable data. (Seidman, 2013)
Question 6
Transcribed interviews have several limitations in a research study. First, they can be very time-consuming: setting up, interview process, transcribing, analyze, feedback and reporting. Secondly, transcribed interviews are very costly. Thirdly, the persons conducting the interview may understand and transcribe interviews in different ways. (Sharan, 2009)

References
Echols E. (2006) Competitive Advantage from Human Capital Investment Tapestry Press
Galletta A. (2013) Mastering the Semi-Structured Interview and Beyond: From Research Design to Analysis and Publication NYU Press
Gomes, C. M., Kneipp, J. M., Kruglianskas, I., Rosa, L. d., & Bichueti, R. S. (2015). Management for Sustainability: Key practices . Ecological Indicators, 52116-127
Musser, L. R. (2001). Effective Retention Strategies for Diverse Employees. Journal Of Library Administration, 33(1/2), 63.
Seidman I. (2013) Interviewing as Qualitative Research: A Guide for Researchers Teachers College Press
Sharan B. (2009) Merriam Qualitative Research: A Guide to Design and Implementation John Wiley & Sons
Susan E. Jackson, DeNisi A, & Hitt (2003) Managing Knowledge for Sustained Competitive Advantage: Designing Strategies for Effective Human Resource Management John Wiley & Sons
Tracy S. (2012) Qualitative Research Methods: Collecting Evidence, Crafting Analysis, Communicating Impact: Collecting Evidence, Crafting Analysis, Communicating Impact John Wiley & Sons
Wengraf T. (2001) Qualitative Research Interviewing: Biographic Narrative and Semi-Structured Methods SAGE

Sherry Roberts is the author of this paper. A senior editor at MeldaResearch.Com in pre written essays online if you need a similar paper you can place your order from custom nursing essay.