Conclusion

Gaining Competitive advantage or being unique from competitors with providing superiority product and services for customers will help organizations to survive in the market and increase their market share and as well as increase the profit. Human resource management and its strategies playing a vast role by Identifying unique skills within the organization and developing the same to gain competitive advantage, Changing human behaviours strategically and effectively, ensuring the retention of skilled workers with facing to the talent competition, managing employees during the organizational changes, are challenging and it is an arduous task. effective Human resource management and its strategies will help the organization to overcome the above challenges in order to be unique from its rivals. 

Challenges Facing - The impact of Limited Resources and Budget

In order to implement both cost leadership & differentiation strategies, it is necessary to introduce new technology, training and development. furthermore, to sustain the competitive advantage organizations are required to anticipate its future needs and will require to nurture existing talents. conducting frequent training and development, recruiting skilled professionals, research and development will help to gain and sustain the competitive advantage. Lack of financial resource will be a challenge for the HR department to implement the above activities. (Rklefa, A., Alhgig, N and Mehta, R 2018) 

Reference :

• Rklefa, A., Alhgig, N and Mehta, R (2018) Biggest Challenges Facing Hr Departments. IOSR Journal of Business and Management, 20 (4), PP 14-18.