Nokia-Talent Management
Question 1
Introduction
Effects of Globalization
The battles for talent, recession, inadequate succession planning, brain-drain are all the effects, of a shrinking global economy and globalization, which present both threats and opportunities to companies. With companies striving to obtain a competitive advantage in the global market place, the shortage of appropriate skill-sets by individuals to meet unique requirements, is becoming more problematic. Holbeche (2009:3) states: “Talent and the ability to engage that talent to produce high performance teams are the buzzwords which can be heard in organizations in every sector, reflecting the growing awareness of the importance of being able to attract, manage and motivate and retain the right people.”
Competitive Advantage
Gitman and McDaniel (2009:225), defines competitive advantage as the factor that causes customers to patronize the firm and not the competition. Moore, K (December, 2010), sums up the importance of Human Resources (HR), when he states: “Human beings, not machines or processes create competitive advantage.”
Attracting
Knowledge as a competitive advantage Wilton, N (2011:75) states, that sustained competitive advantage stems from both tacit and explicit knowledge within the firm and the ability of employees to learn faster than their rivals. Tacit knowledge is defined as that knowledge that resides within the individual and is often more difficult to articulate and communicate while explicit knowledge is defined as procedural knowledge that is codified and systemized (Wilton, N. 2011:429).
Sources of Organizational Knowledge
Wilton, N. (2011:429) goes on further to say, citing Leonard (1998), that competitive advantage may arise from four groups of organizational attributes or core capabilities:-
• Employee Knowledge and Skill
• Physical technical systems – both individual technical competence and that accumulated in physical systems built over time
• Managerial
Introduction
Effects of Globalization
The battles for talent, recession, inadequate succession planning, brain-drain are all the effects, of a shrinking global economy and globalization, which present both threats and opportunities to companies. With companies striving to obtain a competitive advantage in the global market place, the shortage of appropriate skill-sets by individuals to meet unique requirements, is becoming more problematic. Holbeche (2009:3) states: “Talent and the ability to engage that talent to produce high performance teams are the buzzwords which can be heard in organizations in every sector, reflecting the growing awareness of the importance of being able to attract, manage and motivate and retain the right people.”
Competitive Advantage
Gitman and McDaniel (2009:225), defines competitive advantage as the factor that causes customers to patronize the firm and not the competition. Moore, K (December, 2010), sums up the importance of Human Resources (HR), when he states: “Human beings, not machines or processes create competitive advantage.”
Attracting
Knowledge as a competitive advantage Wilton, N (2011:75) states, that sustained competitive advantage stems from both tacit and explicit knowledge within the firm and the ability of employees to learn faster than their rivals. Tacit knowledge is defined as that knowledge that resides within the individual and is often more difficult to articulate and communicate while explicit knowledge is defined as procedural knowledge that is codified and systemized (Wilton, N. 2011:429).
Sources of Organizational Knowledge
Wilton, N. (2011:429) goes on further to say, citing Leonard (1998), that competitive advantage may arise from four groups of organizational attributes or core capabilities:-
• Employee Knowledge and Skill
• Physical technical systems – both individual technical competence and that accumulated in physical systems built over time
• Managerial