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CASE STUDY. Going further, Investment is the process of capital creation and as any banker like Parvez Balaporia will remind us, is only viable when

CASE STUDY. Going further, Investment is the process of capital creation and as any banker like Parvez Balaporia will remind us, is only viable when (i) < (r). That is to say, the rate of return is more than the cost of borrowing. Hence exploiting the resources is built into the economist's paradigm. Is HR really exploitative when we seek to enhance internal customer satisfaction and promote a healthy work environment? Alternatively, is the exploitation so subtle that it is not perceived? This takes us into value Based Management. The above notwithstanding, we could emphatically state that the HR expert can and should obviate this problem by ensuring that human development takes place all the time, that value addition is universal and employees are proud to belong to the organization. This issue of belongingness, we shall address later, but for now let it be noted that belongingness means two things: The organization belongs to me and also I belong to this organization. This comes from giving respect to the human being even when differing with his/her views. Concern for the individual is the hallmark of a good leader. The HR expert is above all a leader and a producer of leaders through his facilitation. Once this is achieved, the task of converting core competence into competitive advantage becomes relatively simple. Before we jump to the conclusion that HRM is an end in itself, let the premise upon which we act be made absolutely clear. To the positive economist HRM is a behavioral interpretation of the various ramifications brought about by the micro production function. That is taking things a little off the track. What we say is that the organization is a microcosm of the larger society and is a part of the political economy within which it exists.

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