The effective development and management of a firm's ________ may be the primary determinant of its ability to formulate and implement strategies effectively.

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Human capital, defined as the knowledge, skills, and abilities of a firm's employees, can be a critical resource for a company to gain and maintain a competitive advantage. Effective management and development of human capital can lead to increased innovation, better decision-making, and enhanced productivity. A company with a strong human capital strategy may be better equipped to formulate and implement strategies effectively. Technology, a competitive edge, and a capital base are all important resources, but without skilled and motivated employees, a company may struggle to fully leverage these resources to achieve its goals.

The Effective Development and Management of a Firm's ________ May