Georgiadis, Andreas and Pitelis, Christos N. (2010) The interrelationship between HR, strategy and profitability in service SMEs: empirical evidence from the UK tourism hospitality and leisure sector. CEP Discussion Paper, No. 972. Centre for Economic Performance, London School of Economics and Political Science, London, UK.
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Abstract
We investigate the strategies, HR attributes and their synergies that are associated with superior performance in service SMEs using data from the UK Tourism Hospitality and Leisure (THL) sector. A major advantage of our analysis is that our sample includes information also on very small firms which makes results representative of the industry but also sheds light on a very little investigated area related to the nature of HRM and its link with performance of micro businesses. Our results suggest that high-performing SMEs in the THL sector are managed by more experienced entrepreneurs. Moreover, they employ a combination of technological and know-how firm differentiation strategies together with a highly skilled workforce, and/or a combination of (product) differentiation strategies based on quality of service and personal attention to customers, and a generous compensation package and attention to employees development.
| Item Type: | Monograph (Discussion Paper) |
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| Official URL: | http://cep.lse.ac.uk/ |
| Additional Information: | © 2010 The authors |
| Uncontrolled Keywords: | Value capture strategies, Human capital, Organisation Commitment to Employees, Profitability |
| Library of Congress subject classification: | H Social Sciences > HB Economic Theory H Social Sciences > HD Industries. Land use. Labor |
| Journal of Economic Literature Classification System: | J - Labor and Demographic Economics > J2 - Time Allocation, Work Behavior, and Employment Determination and Creation; Human Capital; Retirement |
| Sets: | Collections > Economists Online Research centres and groups > Centre for Economic Performance (CEP) |
| Rights: | http://www.lse.ac.uk/library/rights/LSERO.htm |
| Identification Number: | No. 972 |
| URL: | http://eprints.lse.ac.uk/28722/ |
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