Options for Human Capital Acquisition

An \u27options\u27 view of human capital acquisition explains value creation through timedeferred, sequential, path-dependent investment choices and addresses gaps in the resourcebased theory explanation of the relationship between human resources and competitive advantage. Firms will invest in options for human capital, using alternative employment arrangements like temporary/contractual/part-time workers and internships, or by outsourcing the work, when uncertainty associated with human capital is high and investments in human capital are largely irreversible. We discuss various options for skills and employees, two interrelated components of human capital. These are flexibility options, options to wait or defer, options to abandon, learning options, and switching options. The opportunity cost of not having options is quantifiable, which makes the real options approach valuable for strategic HRM decisions

A Conceptual Framework of Reverse Logistics Impact on Firm Performance

This study aims to examine the reverse logistics factors that impact upon firm performance. We review reverse logistics factors under three research streams: (a) resource-based view of the firm, including: Firm strategy, Operations management, and Customer loyalty (b) relational theory, including: Supply chain efficiency, Supply chain collaboration, and institutional theory, including: Government support and Cultural alignment. We measured firm performance with 5 measures: profitability, cost, innovativeness, perceived competitive advantage, and perceived customer satisfaction. We discuss implications for research, policy and practice

Managing Uncertainty: Lessons from Xenophon\u27s Retreat

Propositions on dynamic capabilities and organizational politics are developed from management literature and are then evaluated using case analysis. The goal is to identify complementary aspects of these perspectives to change from an ancient example that can offer insights for management thought and practice today. Initially chronicled by Xenophon, roughly 10,000 Greek mercenaries spent over two years confronting demanding circumstances as they fought their way into and out of ancient Persia. The mercenaries\u27 response to changing circumstances offers a unique case for integrating literature on responses to uncertainty that range between rational and haphazard explanations. The analysis suggests uncertainty management is a complex phenomenon imperfectly represented by existing models

Leveraging Internal Competency and Managing Environmental Uncertainty: Propensity to Collaborate in International Markets

Purpose – The choice of an international market entry mode involves two critical considerations, leveraging internal competencies and managing environmental uncertainties in host countries. The purpose of the paper is to explicate how these two considerations affect the propensity to collaborate in international markets. Design/methodology/approach – The paper builds on existing theories and develops hypotheses showing relations between competencies and uncertainty and collaboration in international markets. Findings – Conceptual relations show that the goals of leveraging competencies and managing environmental uncertainty in host countries have varying effects on the level of international collaboration. Originality/value – The effects are shown through the integration of different theories and empirical findings. Furthermore, the significance of collaboration in international market entry decisions is established. Directions for future research are also provided

Generating Opportunity from Uncertainty

Learning to deal with uncertainty makes organizations more robust. Leaders can take steps to help their organizations take advantage uncertainty. When continued success transitions from informed decision to luck, small differences in the ability of organizations to handle uncertainty can have a large impact. An example from military history is used to outline current day lessons for military and business leaders

Entrepreneurial Capabilities and Resources: Sustainable Competitive Advantage through Innovation and Opportunism

Firm resource theory specifies the conditions under which resources and capabilities may lead to sustainable competitive advantage. Using the emerging organization as an example, we use firm resource theory to identify some of the resources important to the entrepreneurial capabilities of innovation and opportunism

Recognizing Risk in Human Capital Investments: A Real Options Approach to Strategic Human Resource Management

An issue that has not yet been explored in the field of strategic human resource management (SHRM) is that of managing the ‘risks’ involved in human capital management of the firm. We address this issue using the real option theory framework. We argue that certain HR practices manage risk and generate opportunities for the firm by creating \u27options\u27 for its human capital management. These HR options help ensure stability of returns from human capital and thus sustain competitive advantage. Different types of HR options and the role of certain HR practices in creation of these options are discussed

Dynamic capabilities and knowledge management: an integrative role for learning?

Modern strategic management theories try to explain why firms differ, because new sources of competitive advantage are keenly sought in the dynamic and complex environment of global competition. Two areas in particular have attracted the attention of researchers: the role of dynamic capabilities, and the firm's abilities for knowledge management. In this paper, we argue that there is a link between these two concepts, which has not been fully articulated in the literature. The aim of the paper is therefore to ascertain the conceptual connection between them as a basis for future research. Our proposed framework acknowledges and critiques the distinct roots of each field, identifies boundaries, and proposes relationships between the constructs and firm performance

Choosing an organisational form: the case of collaborative procurement initiatives

This paper deals with different organisational forms of collaborative procurement and provides insight into when to use which form. Different forms from the literature are compared with empirical examples to give an overview of forms, which are then described in terms of strategy, skills and organisation. Whilst acknowledging variations, the paper distinguishes between two main forms: virtual networks and third-party organisations. Using empirical data and four theoretical perspectives (transaction cost economics, resource-based view, contingency theory, agency theory), the paper reflects on when which form can be used and presents an overall framework to help choose an organisational for