HRM Practices develop product differentiation and cost leadership strategy, enabling Organizations to attain competitive advantage: A narrative review

Abstract

Human resource management practice (HRMP) has been broadly acknowledged and widely recognized by almost every organization. Many studies have been conducted to review the application of human resource management (HRM) and other aspects that have manifested and been determined to be true in a variety of scenarios. HRM practices have been found to be essential and effective in the delivery of services and socioeconomic growth. In well-established organizations, up-to-the-level performance and competition are impossible without the required skilled, well-motivated people working in a good human resource management program development. In both small and big educational institutions, a framework that relies on human resources management strategies for program implementation is required in an educational setting the most essential practices of human resource management are selection and recruitment, appraisal of performance, training and development, and reward and rumination systems. It is very pertinent for an organization to comprehend methods of attracting, retaining boast the Morales of those in the marketplace who are skilled and competent. Organizations by the virtue of implementation of soft dimensions of HRM become able to gain a competitive edge. From the available literature it very evident that through the procedures and practices of human resource management not only the performances of an organization are enhanced but it becomes able to get what is called “competitive advantage”.