development of a sustained competitive advantage is
supported by other theories, such as, for instance, the
knowledge-based view (Price, 2007) that emphasises the
critical role of unique knowledge ownership; the role
behaviour theory, which maintains the necessity of
different role behaviours for different means of strategy
implementation and views HRM as a primary means of
behaviour management; and the human capital theory,
which assumes that the value of human resources, just as
any other type of capital, lies in their ability to contribute
to organizational productivity (Schuler, Jackson, 2005).
Stavrou and Brewster (2005) point out to the following
four perspectives that acknowledge the significance of
human resource management in the establishment of
sustained competitive advantage: 1) organizational learning,
i.e. creation of competitive advantage through innovation,