Prahalad and Hamel (1990)are of the view that general managerial epithet, "people are our greatest asset''is a tired cliche. how true is this
Answers
It is absolutely true that " people are our greatest asset " is a tired cliche.
New generation companies are spending far higher on licensing costs, installation of machinery, purchasing assets etc.
They hardly bother to revise the pay settlements of their employees.
Performance linked bonuses indicate that employee's worth is only being judged by numbers or quality metrics.
In order to counter stiff competition businesses are ignoring their human resources and the need of investing in staff for long term growth.
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There is a general managerial epithet that "people are our greatest asset''.
But according to the Prahalad and Hamel (1990), it is a tired cliché as right people are the greatest assets.
On the other hand, the wrong employees are considered as the greatest liabilities.
If the right people get right places in an organisation, it can be the great for a company.