Reference no: EM133163763

Answer the following questions based on the case.

Case : Rebuilding Competitive Advantage 

As the U.S. economy moves from recession to recovery, businesses are obsessively focused on risk management, cost containment, supply-chain sustainability, resource efficiency, and maintaining their competitive edge. Yet a company's success-or lack thereof-in any or all of these areas will be moot unless it recognizes and deals with its vulnerabilities related to retention and succession. Business results will be predicated by an organisation's approach to executive talent management.

Bill Conaty, who spent four decades in human resources leadership roles at General Electric (GE), effectively synthesized this agenda. He stated that gaining a decided advantage over the competition starts with attracting the right talent to the organisation. He added that companies must also invest in executive talent development, assessment, and retention because they're just as critical to business performance. The market leaders in any industry recognize that attracting and developing the best executive talent is a continual, institutional priority, no matter what the economic environment. Conaty said. He pointed out that development needseven for people at the most senior level-are not fatal flaws for a corporation or an individual unless they go unaddressed. 

Claudio Fernández-Aráoz of Egon Zehnder International says that despite [today's high] unemployment numbers, companies still need to focus on attracting superior executives because demographics already indicate that the number of managers in the right age bracket for leadership roles will drop by 30 percent in just six years. "Companies need to beef up their ability to attract great leaders," Fernández-Aráoz contends. "While over the long run companies should focus on becoming more attractive by developing the type of culture, environment and team that outstanding executives want to join, they also need to immediately focus on winning the coming fight for executive talent one leader at a time." And that's not just about money. Companies can attract superior talent by demonstrating active support for the candidate's interests, describing the role realistically, and involving the hiring manager (not just HR) in closing the deal, he adds. Further, by enlisting the involvement of C-level executives while recruiting for top positions and ensuring that compensation for a new recruit is fair to current employees, companies can more effectively integrate new leaders. 

When it comes to assessing executive talent, Sumner Redstone, majority owner and chairman of the board of his family controlled National Amusements, Inc., and majority owner of CBS Corp. and Viacom, told me recently during an exclusive interview that it all comes down to his "Three C's. "I insist that anyone I'll hire, particularly an executive, bring what I call the 'Three C's.' That's competence, commitment, and the most important one, character," Redstone said. "Without character, I'm not interested in their competence or commitment."

The final piece of building, rebuilding, or maintaining a company's prized management advantage over the competition is retaining the best executives. Former Medtronic CEO Bill George offers his own advice. To keep your top business leaders onboard, George says you 

1 BMHR5103/SEP18/F 

have to challenge them. "Put them in tough jobs. Make them responsible for something. Promote young people; flatten the organisation; and give people opportunities to lead right now and they'll stay with you and be true to you." Exceptional companies, he believes, must reward business leaders for their performance and not simply reward their decision to stay with the company. 

QUESTION 1

From the above case, which functions of human resources management are missing? In what ways, if any, are the missing functions relevant to building competitive advantage? 

QUESTION 2

The case discusses layers of diversity not reaching the workforce. Strategically, in order to remain sustainable, organisations must make sure that their diversity principles apply to all levels be it at middle managers, supervisors, and non-management employees. 

Based on the above statement, discuss what are the changes in workforce diversity will affect HR management? Support your answer.