Answer to Question 1
Because it is an organization's people who are responsible for gaining and keeping a competitive advantage, hiring and retaining the right people are critical to business strategy execution. The resource-based view of the firm proposes that a company's resources and competencies can produce a sustained competitive advantage by creating value for customers by lowering costs, providing something of unique value, or some combination of the two. To create value, the hiring programs, policies and practices of an organization must either lower the costs of the organization's products or services; enhance the differentiation of the organization's products or services in the eyes of customers, or both. Staffing serves as a gatekeeper in influencing the level and composition of an organization's talent. This can add value to the organization through employees' competency levels, experience, judgment, social relationships, etc.
Human resources can be a source of competitive advantage because they meet the criteria for being a source of sustainable competitive advantage: they add value to the firm, are rare, cannot be imitated, and cannot easily be substituted with other things.
The resource-based view of the firm focuses attention on the quality of the skills of a company's workforce at various levels, and on the quality of the motivational climate created by management.
Answer to Question 2
False
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