Findings – The important conclusion reached is that increasing the core competencies of the firm, in
particular in HR, is the key element to the success of the firm. Moreover, it is posed that the growing
involvement of the HR in the development and implementation of business strategy will lead to the
increased effectiveness of the organisation and the industry as a whole. Finally, the competitive
advantage a firm enjoys can come from the distinctive capabilities which provide it with a core
competence in HR