Question

"espedal" How do strategic leaders manage their firm’s resource portfolio effectively to exploit its core competencies and leverage its human capital and social capital to achieve a competitive advantage

Answer 1

Strategic leaders manage the organization's resource portfolio effectively to exploit its core competency by organizing them into capabilities, structuring the organization to use the capabilities, and developing and implementing a strategy to leverage its human capital and social capital resources to achieve a competitive advantage.

Strategic leadership is required to help firms successfully navigate the dynamic and uncertain environment in which they need to compete today.

Human capital is the firm's repository of valuable knowledge and skills whereas social capital provides access to critical resources.

Human capital is the organization’s intellectual capital, which includes competencies, knowledge, skills and creativity.

According to the definition given in the Oxford dictionary Social capital is  “the networks of relationships among people who live and work in a particular society, enabling that society to function effectively”.

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