How Does HRM Create Value:Revisit of Resource-based View

Resource-based view has been the most important theory foundation in strategic human resource management studies since 1990s.However,the traditional resource-based view treats all internal factors as resources,without further analysis and classification of them,therefore brings some confusion in both theoretical and empirical research in the field of strategic human resource management.This paper points out that the internal factors can be classified into three types:resource,capability and culture.Human resource management creates economic value for the firms by changing the bundles of resource,capability and culture.