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Knowledge is the product of those expert services companies. It is the critical element that allows the firm to function in its specific business sector. The understanding of the firm lies inside the human capital of the company, the consultant workers. This literature review will look firstly in current academic literature on what this knowledge is and how this knowledge could be managed within professional services companies. Secondly the paper will examine relevant theories and practices associated with Strategic Human Resource Management (SHRM) and also the way these concepts and practises can help out with managing the companies' knowledge. Finally the paper will attempt tie together knowledge, SHRM and also the way the utilization of SHRM can affect the firms' competitive edge. Within the professional services sector, such as consulting, a worker's knowledge of the business in which the organisation operates, is critical to the achievement of that company. This knowledge is applied to the clients issues encountered as a way to come up with certain responses and solutions to those issues (Browning, Edgar, Gray, and Garrett, 2009; Teo, Lakhani, Brown, & Malmi, 2008). This knowledge can also be the organisations competitive advantage and must be harnessed as an advantage (Aït Razouk, Bayad, & Wannenmacher, 2009) to ensure its most effective use. Harnessing or managing this understanding can be challenging as knowledge in itself is an abstract, complicated notion which can be both tacit and explicit and is present in all levels from the individual to the organisation (Thite, 2004). Knowledge is also a private attribute and element of the management of the understanding is that the management of the human beings that have it (citation needed if any). However, what is knowledge and what types of knowl...