RESOURCE BASED STRATEGIC HRM ON

STANDARD CHARTERED

GROUP NO:3 T.VINCY(09BA064) M.ANGEL GRACE(09BA066) J.B.JENNIFER(09BA045) MONALISA RODRIGUES(09BA018) VINY VARGHESE(09BA193)

Question
Critically examine the concept of resources based strategic HRM, where Standard Chartered can develop human resources capable of learning faster, to launch priority banking

Competitive Advantage
Competitive advantage is defined as the strategic advantage one business entity has over its rival entities within its competitive industry. Achieving Competitive Advantage strengthens and positions a business better within the business environment.

COMPETITIVE ADVANTAGE

 A competitive advantage exists when the firm is able to deliver the same benefits as competitors but at a lower cost (cost advantage), or deliver benefits that exceed those of competing products (differentiation advantage). Thus, a competitive advantage enables the firm to create superior value for its customers and superior profits for itself.

Michael Porter identified two basic types of competitive advantage:

Cost advantage Differentiation advantage EG: SONY

RESOURCES

DISTINCTIVE ADVANTAGE

COST ADVANTAGE OR DIFFERENTIATION ADVANTAGE

VALUE CREATION

CAPABILITIES

ORGANISATION COMPETITIVE POSITION

PRODUCTIVITY

SUPERIOR PERFORMANCE ORGANISATION COMPETITIVE POSITION

FLEXIBILITY

INNOVATION

PROVIDING HIGH LEVEL CUSTOMER SERVICE

VIEW OF DIFFERENT AUTHORS IN RELATION WITH RESOURCE BASED STRATEGIC HRM:

HARRISON UNIQUE TANGIBLE AND INTANGIBLE ASSEST

ULRICH

KNOWLEDGE HAS BECOME DIRECT COMPETITIVE ADVANTAGE

BARNEY

EXPERIENCE ,KNOWLEDGE,JUDGEMENT,PROPENSIT Y AND WISDOM OF INDIVIDUALS ASSOCIATED WITH THE FIRM

KAMOCHE

A BUNDLE OF TANGIBLE AND INTANGIBLE RESOURCES AND CAPABILITIES REQUIRED FOR PRODUCT AND MARKET COMPETITION

History
Standard Chartered was formed in 1969 through a merger of two banks: The Standard Bank of British South Africa, founded in 1863, and the Chartered Bank of India, Australia and China, founded in 1853. Both companies were keen to capitalize on the huge expansion of trade and to earn the handsome profits to be made from financing the movement of goods between Europe, Asia and Africa.

Chartered Bank
Founded by James Wilson following the grant of a Royal Charter by Queen Victoria in 1853. Chartered opened its first branches in Mumbai (Bombay), Kolkata and Shanghai in 1858, followed by Hong Kong and Singapore in 1859. Traditional trade was in cotton from Mumbai (Bombay), indigo and tea from

Kolkata, rice from Burma, sugar from Java, tobacco from Sumatra, hemp from
Manila and silk from Yokohama. Played a major role in the development of trade with the East which followed the opening of the Suez Canal in 1869 and the extension of the telegraph to China in 1871. In 1957 Chartered Bank bought the Eastern Bank together with the Ionian Bank's Cyprus Branches. This established a presence in the Gulf.

Standard Bank
Founded in the Cape Province of South Africa in 1862 by John Paterson. Commenced business in Port Elizabeth, in January 1863. Was prominent in financing the development of the diamond fields of Kimberley from 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885. Expanded in Southern, Central and Eastern Africa and, by 1953, had 600 offices. In 1965, it merged with the Bank of West Africa, expanding its operations into Cameroon, Gambia, Ghana, Nigeria and Sierra Leone.

KEY FACTORS FOR THE SUCCESS OF STANDARD CHARTERED :

One of the key competitive advantage is the ability to differentiate what the

business supplies to its customers from what could be supplied to them by the competitors. Standard chartered has achieved competitive advantage by having HR Strategies which ensure that the organization has higher quality people than its competitors ,by achieving and nurturing the intellectual capital possessed by the business and by focusing on organization learning .

In Standard Chartered Bank, they have five core values that they all work by they are Courageous, Responsive, International, Creative and Trustworthy and they bring these to life every day in how they work with their customers, colleagues,

communities, suppliers and the shareholders.

Behaviors they role model to live these values : Challenging the status quo. Sharing our learning. Working collaboratively end-to-end. Being outcome driven, and

Driving sustained continuous improvement in a disciplined and coordinated manner.

Why We are an Employer of Choice

International mindset to broaden our employees Perspective International mindset. Exposure to growth markets. International career opportunities. Unique footprint. Performance and achievement culture for our employees to excel Superior financial performance. Performance-based reward and recognition. Personal and professional satisfaction. Can-do attitude.

Opportunity to grow and succeed A great place to learn and grow. Early responsibility. Flexibility to plan career growth. Dynamic and high growth markets.