solved Part 1, 100–200-word responses for part a and b.1(a)How does

Part 1, 100–200-word responses for part a and b.1(a)How does human capital provide a basis for competitive advantage?Human capital is the sum of the skills, knowledge, and general attributes of the people in an organization. (Hitt, Miller, Colella & del Carmen Triana, n.d., pg.9, 2017) A competitive advantage exists when a company can deliver the same benefits as competitors but at a lower cost or deliver benefits that exceed those of competing products. Human Capital is the force that will provide the strategy for developing the wealth of a business. Human Capital is an intangible asset because it includes all the assets or abilities of employees within an organization. These competencies differ between the skills, experience, education, and potential of each employee. What are the five characteristics of high-involvement management, and what evidence exists to support the effectiveness of this approach?The five characteristics of high involvement management are selective hiring, extensive training, decision power, information sharing, and incentive compensation. Evidence such as technology and staff support this approach. The right, ambitious career-minded people will gravitate to a company that invests in their human capital. Today’s workforce seeks jobs that offer career progression, and a company that invests in its people does just that. To reap the most benefits from employees, your business needs to actively invest in them. This may be done in various ways, by offering training, clear career progression, and offering engagement processes by knowing your employee’s strengths and helping them develop those. Your business has to spend money on developing its workers to maximize the return on your human capital investment. (Farrugia, 2017)References:Hitt, M. A., Miller, C. C., Colella, A., & del Carmen Triana, M. (n.d.). Fifth Edition. Retrieved from https://platform.virdocs.com/r/s/0/doc/385608/sp/17197678/mi/57051938?cfi=%2F4%2F2%2F8%2F8%2F8%2C%2F9%3A42%2C%2F9%3A42COMPETITIVE ADVANTAGE THROUGH HUMAN CAPITAL. (n.d.). Retrieved from https://www.castilleresources.com/blog/2017/09/competitive-advantage-through-human-capitalPart 1(B)Many people consider human capital to be the greatest asset of a company. In fact, this is the philosophy adopted by so many of the most successful and innovative companies in the world, such as Google and Apple. Many studies indicate that there is a link between great human capital and high-performing companies. So, what is a competitive advantage? Competitive advantage is when a company achieves a certain kind of superiority over other companies and is always one step ahead of the competition. “There are many strategies that contribute to achieving a competitive advantage, but maximizing your human capital is a major contributor to achieving a competitive edge in the marketplace” (Bubenik). By attracting and hiring the best employees with the best knowledge, skills, education, work ethics, and personal values, a company can achieve a highly significant advantage. Human capital is an intangible asset and like any other investment, it must be analyzed and chosen carefully. After all, finding the right candidate is not an easy task, and retaining the right employee might prove to be an even more challenging task. However, if done right and efficiently, the return on the investment is extraordinary for the company as well as the workforce. That is when high-involving management comes into play. “High-involving management involves carefully selecting and training associates in order to provide them with significant decision-making power, information, and incentive compensation” (Hitt, Miller, Colella, 2017). The five categories for high-involvement management are selective hiring, incentive compensation, info sharing, decision power, and extensive training. The studies on the topic suggest that the implementation of High Involvement Management Practices (HIMP) are linked to organizational commitment. In other words, the implementation of these practices reduce considerably employee turnover. In addition, there are more positive effects that are linked to the implementation HIMPs, such as increase in employees’ productivity, wages, career progression within an organization, and job satisfaction (What Works Centre for Local Economic Growth). Besides, as mentioned, HIMPs attract the best employees. “At the end of the day, your people are your competitive edge” (Bubenik, 2019). References Bubenik, S. (2019, February 19). Can hr strategies create a competitive advantage for your company? Retrieved May 09, 2021, from https://www.forbes.com/sites/scholleybubenik/2019/02/18/can-hr-strategies-create-a-competitive-advantage-for-your-company/?sh=889a6558563aWhat Works Centre for Local Economic Growth. (n.d.). Retrieved May 09, 2021, from https://whatworksgrowth.org/resources/in-work-progression-toolkit-high-involvement-management-practices/Hitt, M. A., Miller, C. C., & Colella, A. (2017). Organizational behavior (5th ed.). Hoboken, NJ: John Wiley & Sons.Part 2. For both parts a and b 100-150 wordsPart 2(a)My wife and I launched our very own trucking company at the end of 2019. We started with Hot Shot trucking which was pretty simple. Our first step was to obtain our L.L.C. by registering with Florida Sunbiz, next we got a lease from Enterprise corporate fleet. Once we found a driver, we got our Ram 3500 on the road and began making passive income. During the summer of 2020 we decided to transition into tractor trailers that allowed for larger and heavier loads. We financed a semi truck and continued business as usual on a larger scale. Our fixed costs after purchasing the truck is our overhead, this included the semi’s monthly payment, our insurance and the price of my drivers company issued cell phone. Our variable costs is the weekly salary paid to my driver, fuel/ifta costs, tolls and of course D.O.T. infractions. Our total fixed overhead is $1,600/mo and my average weekly earnings is $2,000. After paying my driver the 33% we agreed upon my break even point to remain afloat was $5240. As long as we received payments equaling this amount monthly we could maintain our obligations. Part 2(BBreak-even analysis is an extremely valuable method because it will assist you in identifying the benefit streams in your market. The break-even point of a business is the volume of earnings or profits required to cover its expenditures. In other words, that is the stage where the corporation is neither profitable nor incurring a loss. Computing the break-even point will provide executives with a straightforward yet useful quantitative method. In its simplest type, break-even analysis determines if the profits raised by a service or product is sufficient to offset the related manufacturing costs of the service or product (Hayes, 2021). Management teams may use this data to make a variety of strategic choices, like pricing, planning fair deals, and obtaining loans. With regard to my life, I also use break-even point analysis sometimes. For instance, when shopping, I have to determine which goods are the most cost effective and worthwhile by evaluating their quality, price, and quantities to obtain a better deal. As such, it is a method for determining whether an enterprise can be profitable by contrasting its total profits to its aggregate costs. There are many specific applications for the situation, but all of them include administrative accounting and cost management. The key difference to grasp of administrative accounting is one of sales and rewards. Not all earnings accrue to the company. Multiple products cost more to manufacture than they generate in sales. Due to the fact that expenses outweigh sales, these goods are a disadvantage — not a gain.ReferenceHayes, A. (2021, March 30). Break-even analysis. Investopedia. https://www.investopedia.com/terms/b/breakevenanalysis.asp Part 3For both parts a and b, 100-200 word responses.Part 3(a)1. Multinational Employees With A “Global Mindset” Perform Betterhttps://www.shrm.org/resourcesandtools/hr-topics/global-hr/pages/multinational-workers-need-global-mindset.aspx2.Effective Workplace Conversations on Diversityhttps://shrm.org/resourcesandtools/hr-topics/behavioral-competencies/global-and-cultural-effectiveness/pages/effective-workplace-conversations-on-diversity.aspx?_ga=2.50396330.222730553.1620492038-2091503813.16204920383. The Identity-Based Brand: New Criteria for Creating value Through HRhttps://www.shrm.org/resourcesandtools/hr-topics/behavioral-competencies/leadership-and-navigation/pages/identitybasedbrand.aspx Part 3(b) One of the biggest driving forces behind globalization is outsourcing, or relocating manufacturing, production, or distribution duties to other countries. Intercultural competence is another topic. It is an asset in an increasingly globalized world where we are more likely to interact with people from different cultures and countries who have been shaped by different values, beliefs, and experiences. A global mindset is the ability to recognize and reflexively adjust to cultural signals so that an individual’s effectiveness is not compromised when dealing with people from different backgrounds. References:Shrm. (2020, August 10). Intercultural Competence as a Key Enabler of Organizational Growth and Success. Retrieved from https://www.shrm.org/resourcesandtools/tools-and-s…