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To What Degree Does Our Knowledge of Personnel Practices in the Uk Indicate There Has Been a Transformational Shift in the Way That Personnel Practices Are a Source of the 'New Competitive Advantage?

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To what degree does our knowledge of personnel practices in the UK indicate there has been a transformational shift in the way that personnel practices are a source of the 'new competitive advantage?

Introduction:

Understanding employees’ practices is necessary both for company proprietors and for personnel within a human resources unit. The individuals in a corporation are too vital for its achievement. Personnel practices, now usually regarded as function of human resource department, involve several components that are important for the accomplishment of any business (Understanding Personnel Practices). Today, in the light of emerging new knowledge-based economy, it is important to revisit how far UK has succeeded in transforming its highly-efficient management expertise to acquire new competitive advantages; their direction and trends will have vital implications for future with fiercely competitive global environment and current economic recession that started from 2007.
Today, service sector in UK contributes around 75 percent of its GDP. In particular, its banking, insurance, and business services dominate, requiring high-skilled management professionals. The contribution of UK industry and manufacturing to GDP has declined over the years, which in 2008 was 22.8 percent. Both manufacturing and energy are in long-term decline. (Economy Watch) Not surprisingly, throughout this shift towards service sector, there has been a rise in the role of relatively new human resources department designed to meet new requirements and a corresponding fall in traditional unions. These traditional union systems were the result of exploitation of labors working in European cities by the capitalists during the industrial revolution in the eighteenth and nineteenth century; political, social, and economic realities of today are far more different. As Jacobs puts

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