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Firm-based resources may be tangible or intangible. Tangible resources include: physical assets such as financial resources and human resources including real estate, raw materials machinery, plant, inventory, brands, patents and trademarks and cash. [19]
In most companies, compensation & benefits design and administration falls under the umbrella of human resources. HR organizations in large companies are typically divided into three sub-divisions: HR business partners (HRBPs), HR centers of excellence, and HR shared services.
In economics, labor or human resources refers to the human work in the production of goods and rendering of services. Human resources can be defined in terms of skills, energy, talent, abilities, or knowledge. [4] In a project management context, human resources are those employees responsible for undertaking the activities defined in the ...
Intellectual capital is the result of mental processes that form a set of intangible objects that can be used in economic activity and bring income to its owner (organization), covering the competencies of its people (human capital), the value relating to its relationships (relational capital), and everything that is left when the employees go home (structural capital), [1] of which ...
Resources can be classified both as tangible and intangible: Tangible: Financial (cash, securities) Physical (Location, plant, machinery) Intangible: Technology (patents, copyrights) Human resources (tacit knowledge) Reputation (Brands) Culture
Citing Dorothy Leonard (or Leonard-Barton), Teece et al. define (higher-level) Dynamic Capabilities as the "ability to integrate, build and reconfigure" these tangible and intangible assets. "Dynamic Capabilities thus reflect an organizations ability to achieve new and innovative forms of competitive advantage given path dependencies and market ...
Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. [ 1 ] [ 2 ] A narrower concept is human capital , the knowledge and skills which the individuals command. [ 3 ]
Intangibility refers to the lack of palpable or tactile property making it difficult to assess service quality. [1] [2] [3] According to Zeithaml et al. (1985, p. 33), “Because services are performances, rather than objects, they cannot be seen, felt, tasted, or touched in the same manner in which goods can be sensed.” [4] As a result, intangibility has historically been seen as the most ...