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Retaining Competitive Advantages through Specialized Human Capital

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Organizations seek to develop uniqueness that will allow them to create competitive advantages that allow them to better compete on international markets. The combination of human capital and organizational factors helps develop those firm specific qualities. The development of human capital through firm-specific skills will further retain the talent of organizational members and encourage lower levels of knowledge loss or competitive posturing. Competitive advantage is a unique organizational strength a company develops over competitors through the offering of higher products, value, or benefits that justifies higher prices on the market. It is a condition whereby an organization is more efficient and productive than those it competes with. Such firms are seen as competitive, “ if it is able to create more economic value than the marginal competitor (Peteraf & Barney, 2003: 314). Through this competitiveness, additional benefits are earned by the organization that other