What is more important: human resource management and marketing management?

What is the importgance of marketing in human resource management?

• Answer:

  Take the experience of a well-known cell phone manufacturer we’ll call CellTech. In the mid-1990s, CellTech was at the top of its game. But later in the decade, new players flooded the market, and analog cell phones slipped along the product lifecycle curve toward commoditization. CellTech sought to stem its shrinking margins by developing the next wave of industry innovation: digital cell phones. Although CellTech had a new business strategy, it lagged in devising a new people strategy to support it. The company neither acquired nor developed the skills in its workforce that would enable it to create and produce the new technology in time. Because CellTech had never developed the human capital strategy process that would have enabled it to anticipate a new workforce need based on a changing business strategy, it was unable to execute its plan in a timely way. It lost significant market share and millions in potential revenues.