







































Asian Themes in Social Sciences Research 
ISSN: 2578-5516 

Vol. 2, No. 1, pp. 16-22 
2018 

DOI: 10.33094/journal.139.2018.21.16.22 
© 2018 by the authors; licensee Online Academic Press, USA 

16 
© 2018 by the authors; licensee Online Academic Press, USA 

  

 
 
 
 

Human Capital is a Competitive Advantage of Businesses: 
Analysis of Automobile Firms of Pakistan 
 
 

Muhammad Mujtaba1* --- Sadaf Jamal2 --- Jawaid Ahmed Qureshi3 --- Yaseen Shaikh4 

 

1,2,3Department of Management Sciences, SZABIST, Karachi, Pakistan. 

 
4MS-Project Management, MUISTD, MUET, Jamshoro, Pakisatan. 
 

 
Abstract 

The purpose of conducting this research is to examine the significance of  Human Capital 
(HC) in automobile sector of Pakistan because leading automobile firms of the world have 
claimed that HC has major role beyond their success. This is quantitative research which is 
based on philosophy of positivism. The primary data of this study was collected from 
management and crucial employees of main Light Transport Vehicle automobile firms of 

Pakistan. Result of this research indicates that there is strong impact of human capital on 
firm performance; it performs the function of oxygen in hard-hitting competition where every 
firm is busy to take a lead in open market. This study is very constructive not only for the 
automobile industry but this work will also create awareness and need of HC in all 
manufacturing firms of Pakistan in the scenario of globalization. 
 

Keywords: Human capital (HC), Competitive advantage, Automobi le 
Licensed:  This work is licensed under a Creative Commons Attribution 4.0 License.  
Funding: This study received no specific financial support.    
Competing Interests: The authors declare that they have no competing interests. 

 
 
1. Introduction 

Human Capital (HC) is ultimate weapon of business firms’ globalization where everyone is busy to launch 
innovative product to take lead in competition. HC is only resource of f irm who conceptualized creative ideas 
to develop innovative products by using their knowledge, skills and experience; it gives edge to business firm 
against its competitors (Wang, Shieh and Wang, 2008). The worldwide fast growing competition and 
economic integration have increased the concentration of organizations on the development of HC (Butt and 
Katuse, 2017). Think creatively, diagnose problem and establish novel solution of customer needs indicate the 
uniqueness of Human Capital; it performs the role of oxygen for firm in competition (Aryee et.al, 2016). 
HC is not only one time solution of firm performance but it is long tenure competitive advantage if firm 
continue to invest on the HC development and keep its moral high through motivation (Liang and Gang, 
2017).  

According to Liu et.al, (2017) the China is one of the emerging economy of the world and the Chinese 
firms are competitive almost in every field of business due to innovation and reduction in price of product and 
it happened due to HC. The race of competition, where frequent changes are required  to meet the customer 
needs, the talent war has taken the place among revivals, where primarily focus of firms management is to 
align functions of Human Resource department with continuously developing the Human Capital for 
favourable long term position of firm against its competitors,  therefore, in the light of global competition, the 
critical strategy behind the firm performance is “One Company- One way to Success- Consistently Valuing 
People”, like any fine gardener recognizes, to encourage healthy growth, beside to fertilizing as well as 
watering, he also has to prune and weed, however, in many companies, Human Resources Professionals spend 

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large efforts on planting, watering and occasionally fertilizing it, but particularly no one is cutting away 
deadwood or development inhibiting underbrush (Bartlett, Christopher and Ghoshal, 2002).  

According to Morris, et, al, (2017) due to globalization, the firms need to understand and address the 
functions of Human Resources Management at micro level to develop the their Human Capital. Whereas, 
firms needs to invest on employees to develop their knowledge and keep them motivated so that they can show 
their full commitment and loyalty with firm through generate new ideas, and identify the hurdles and 
solution-in progress of firm (Aleo and Sergi, 2017). Lee and Mah (2017) argued that economic incorporation at 
worldwide has carried broad change in the industry of automobile to deliver more comfortable, cost -effective 
or high quality automobiles to its customers at national level as well as catch the attention of other markets 
customers at regional level to raise the profitability, there is example of Korea, Taiwan, China and Indonesia.  

Pakistan automobile industry has great potential to perform import role in development of country as 
same industry is performing remarkably in east Asia countries,  the Finance-Ministry (2017) has explained in 
its Economic Survey Report (2016- 2017), that the Pakistan automobile industry can contribute major role in 
the GDP of country because presently, it is one of the fast growing and having reasonable contribution in the 
GDP of Pakistan, but there is great potential in this industry to improve the production to attract local as well 
as foreign (i.e. South Asian countries) customers through improvement of firms performance with help of HC; 
in this connection the Government of Pakistan has given tariff incentives in new auto policy to attract new 
investments in this industry, now its depend upon the automobile firms to improve their performance bring 
innovate and maintain the quality of vehicles to attract local and foreign customers to avoid import of vehicles. 
Production-Ministry (2017) has explained in its Industries and Production Report (2016- 2017), that it is 
great need of time that automobile firms of Pakistan must deliver the innovative and quality of   products to 
decrease the import of vehicles. HC has shown great potential to maintain firm performance for extensive time 
and considered as ultimate economic resource of firm (Tripathy, Alana and Sahoo, 2017). 

There is dearth of academic research in automobile industry of Pakistan, especially in the context of HC 
importance in firm performance to attract local and foreign customers, this is age of competition where firms 
must focus on the mind of customers and produce only those products which provide something new which 
must catch the attention of the customers (Butt and Katuse, 2017). This is quantitative research which is based 
on philosophy of positivism. The primary data of this study was collected from management and crucial 
employees of major Light Transport Vehicle automobile firms of Pakistan (i.e. Indus Motors, Pak Suzuki Co. 
and Atlas Honda Motorbikes) 
 

2. Literature Review 
2.1. Human Capital 
According to Vidotto et. Al, (2017) the  Human Capital is the type of intellectual capital, which is combination 
of unique knowledge and motivational characteristics such as education and skills, thoughts and association 
which formed into the mind as well as in the actions of person. HC consists to those employees who equipped 
with distinctive knowledge, expertise and capability to change the situation of market in the favour of their 
employer (Lin, et. Al, 2017). Aryee et.al, (2016) they argued that the success behind the renowned 
manufacturing corporations (like Apple, Honda, Toyota, IBM or Sony) is based on the philosophy of gathering 
best talent (HC) to remain dominate on market. Choices of “Make” or “Buy” available to business firms make 
their HC pool (Quinn, 2005).   
Morris, et. Al, (2016) there is need to understand the importance of HC in context of firm survival in 
competition, which is rapidly changing. Whenever top management invest additional resources on potential 
employees, their worth will automatically increase in terms of unique talent, and that uniqueness performs 
important role in competition (Lin, et. Al, 2017). Business firms are functioning in competitive environment- 
dynamic and complex, and this environment has much focused on the significance on HC- high potential, 
knowledge, skills, innovative, who helps in development of organizational strategy and having capability to 
develop routes for the implementation of strategy and having the potential to execute the strategy towards 
improve the firm performance (Partouvakis and Karakasnaki, 2017). Tripathy, Alana and Sahoo (2017) 
broadly, they called HC as complete package or force of combined knowledge of different fields which has 
established to move the firm effectively on zigzag track of competition towards destination. In sequel perusal 
of different literature work in domain, the concept of HC is consists of two dimensions such as knowledge and 
motivation, the knowledge dimension is embedded in employee, whenever employ ees leave the organization it 
will go with him;  whereas motivational dimension is attached with position when employee leave the 
organization it will be automatically detached from him. 
 
2.2. Knowledge 

Knowledge is vast term, which create relationship between knower and known, here knower is subject (i.e. 
individual) whereas known is object (i.e. anything). In context of HC, it focused only on scare knowledge (i.e. 
intellectual and critical thinking, technical knowhow, having ability to identify the customer needs, cultural 
barriers, market trends), and this knowledge embedded in employees through relevant domain education, 
skills, experience and professional networks (Morris, Snell and Bjorkman, 2016).  Education and skills are 
essential obligation of HC, which comes through educational institutions, long and short terms trainings, and 



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by doing the repetition of action, it is not fixed at particular point, it is continuous process and based on 
innovation of technology or paradigm in the market, which compel to organization to invest and train their 
potential employees in new technology or pattern to take lead in competition (Bartlett, Christopher and 
Ghoshal, 2002). Experience is also important because it provides practical understanding and implication of 
knowledge, as the experience increase, it strengthen the knowledge, it is a lived or on job experience which 
enable the employee to encounter different problems and resolve them with best market practices in real 
scenario, and leaning of employee will increase as many as individual face the challenges and resolves them 
with best practices (Quinn, 2005). The Professional network is one of the key component to explore new ideas 
and business, it is combination of professionals who hold and share diverse knowledge with each other not 
only within organization but also outside of the organization because the external network also performs 
indispensable role into corporation’s capability to explore new ideas and new production, and failure to 
discover latest ideas as well as knowledge can lead towards poor performance (Rogan and Mors, 2017) 
 
2.3. Motivation 

“Can do” and “will do” are two different conceptual dimensions of HC, “Can do” is the capacity of 
employee to perform the work and it represent the knowledge, whereas “Will do” is the willingness of 
employee to perform the work and it represent the motivational dimension, both dimensions interdependent 
on each other to explore new idea to understand the customers’ need and become the competitive advantage of 
firm’s performance (Aryee, et, al, 2016). There is need of motivational factor which energize the employee to 
use his knowledge and go some extra miles than other employees, generate some new ideas and perform 
central role in the operations of organization, actually the motivational factor boost the speed, constant self-
renewal and flexibility (Bartlett, Christopher and Ghoshal, 2002).  The firms need those employees who have 
knowledge, they retain them longer period of time by keeping them motivate all the time  (Liang and Gong, 
2017). Compensation and benefits is one of important motivational element which financially bound to 
employee to stay in firm, in fact, the  agreement on compensation and benefits between employer and 
employee is mutual investment, if employer invest more than the expectations from employee must be high 
whereas if employer invest less than  expectations must be less from employee, in less expectation case the 
employee will  just performed his duties as per job description, he will not go extra mile to explore new ideas, 
(Aryee, et. al, 2016).  Barrachina, Cabrales and Cabrera (2017) they described that, in the process of developing 
HC the organization firstly, select the high potential employees from available human resources, secondly, the 
organization spend sufficient amount on their development through different trainings, thirdly, once they 
complete their trainings, then the organization increase their responsibilities (i.e. Job enrichment) along with 
promotions and sufficient increase in their compensation and benefits. Make choice of career focused and 
energetic employees who accept the challenges and wanted to do more, then set up team of experts who help 
and coach to these rising star of firm (Davis, 2017). Aryee, et. al, (2016) they defined that innovative behaviour 
of employee is based on seeds of empowerment and conducive environment, which give individual  free hand to 
utilizing firm’s resources and peace of mind to do brainstorming at every  time to explore the customer need. 
Organizations whose aim is innovation, they expect high commitment from potential employees by providing 
them learning environment to develop new ideas (Barrachina, Cabrales and Cabrera, 2017). According to 
Davis, (2017), this is era of talent war, where established organizations have focused to maximize HC by 
creating dynamic work climate, broadly, it has reduced the bureaucracy and increase decentralized structure 
(i.e. Team work) so that decisions can be taken at the spot and avoids unnecessary procedures.    
 
2.4. Competitive Advantage 

Before1980s the tangible assets were considered the competitive advantage and more focus was given to 
production to meet demand, but is the era of globalization- where every firm is compelled to bring innovative 
product in market to leads in market, and the innovation is outcome of mind of human who bring new ideas on 
basis of his knowledge (Lepak and Snell, 1999). Barrachina, Cabrales and Cabrera (2017) they argued that  
innovation is based mainly on two important phases (i.e. generation phase and adoption phase), generation 
phase includes acknowledgment of opportunity, do research, design, development, marketing as well as 
distribution, whereas adoption phase is based on two processes (i.e. initiation process and implementation 
process), initiation process includes all actions that attached to identify the need, such as aware of a likely or 
potential innovation, assessing its appropriateness, make judgment and decide to  take up (adopt) the 
innovation, while implementation focus to take all actions that relates to innovation. The conceptual 
framework of this is study is prepared according nature and objectives of research. 
 



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Figure-1. Conceptual Framework. 

Source: Self developed and it is equated like. 
Firm Performance = f (Knowledge (Capability) x Motivation) 

 

3. Methodology 
This is quantitative and cross sectional research study which is based on philosophy of positivism. The 

primary data of this study was collected from management and crucial employees of major Light Transport 
Vehicle automobile firms of Pakistan (i.e. Indus Motors, Pak Suzuki Co. and Atlas Honda Motorbikes). 
Population of this research work is consist of management and crucial employees, who were working in three 
well known automobile firms of Pakistan and deals with light transport vehicles such as Atlas Honda, Pak 
Suzuki and Indus Motors. The sample size of this was study 201 and convincing sampling method was used to 
collect data. Firstly, a close ended questionnaire was designed and refined after discussions with domain 
experts to confirm the validity of contents and context. Once the validity of questionnaire was finalized then a 
pilot test was conducted from 30 respondents to check the reliability before starting comprehensive survey. 
The reliability result of pilot test was .78 which indicated that the reliability of research work for further 
process to conduct survey.  
 

4. Data Analysis and Discussion 
4.1. Reliability 

Primary data was collected from 201 respondents through comprehensive survey. Firstly, the reliability 
analysis was done by using SPSS. Results of same are exhibited at Table 1 which indicated that overall 
reliability (Chronback’s Alpha) is 0.926>.07 whereas are individuals variables reliability are ranging from 
0.706 to 0.850>.07. It depicts that the scale used for this research is satisfactorily reliable for testing 
hypotheses.  
 

Table-1. Reliability. 

Variable No. of Items Chronbach’s  Alpha Value 

Overall Reliability 30 .926 
Formal Education and Skills (FES) 3 .706 

Experience (EX) 3 .765 
Professional Network (PN) 3 .776 
Compensation and Benefits (CB) 3 .748 

Career Enhancement (CE) 3 .723 
Empowerment and Conducive Environment (ECE) 3 .737 

Competitive Advantage (CA) 6 .843 
Firm Performance (FP) 6 .850 

    *Reliability is good at 0.7>.  
 
4.2. Correlation Analysis 

Correlation test was applied to examine the relationship among variables the correlation, all results of test 
are exhibiting significant value of .000 as shown at Table 2. It depicts that there is sufficient relationship 
among all variables. The strong correlation in context of independent variables and dependent variable is 
identified between Compensation and Benefits and Firm Performance with Pearson value of .640 with 
significance level at .000, whereas the Competitive Advantage as mediating variable has strongest relation 
with Firm Performance, the correlation value of this relation is identified with value of. 721 as Pearson 
Correlation and it is significant at .000.  

 



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Table-2. Correlations. 

  FES EX PN CB CE ECE CA 

Firm 
Performance 

Pearson 
Correlation 

.584** .597** .597** .640** .611** .619** .721** 

 Sig.(2-Tailed) .000 .000 .000 .000 .000 .000 .000 
 N 201 201 201 201 201 201 201 

   **.Correlation is significant at the 0.01 level (2 -tailed). 

 
4.3. Regression Analysis 

According to nature of research, the conceptual framework was divided into two models for the purpose of 
regression analysis to get accurate results such as Model-1: To check the impact of independent variables on 
mediating variable and  Model-II: To check the impact of mediating variable on dependent variable.  

Firstly, the regression analysis was applied to on Model-1 to check the impact of independent variables on 
mediating variable. Results are indicating at Table 4 that Coefficient is F=  44.955 with significant value of  
.000b, it shows that overall impact of model is significant. Whereas table no.3 indicating that R=.763 this 
shows that independent variables are impacting on mediating variable, this shows that 76.3% variance in 
mediating variable because of independent variables.  
 

Table-3. Model Summary. 

Model R R Square Adjusted R Square Std Error of the Estimate 

1 .763a .582 .569 .575 
a. Predictors:(Constant),FES,EX,PN,CB,CE,ECE. 

 
Table-4. ANOVA a. 

Model Sum of Squares df Mean Square F Sig. 

 Regression 89.073 6 14.845 44.955 .000b 
1 Residual 64.065 194 .330   

 Total 153.138 200    
a. Dependent Variable: Competitive Advantage (CA). 

b. Predictors:(Constant), FES,EX,PN,CB,CE,ECE. 

 
Table-5. Coefficients a. 

Model Unstandardized 
Coefficients 

Standardized 
Coefficients 

t Sig. 

B Std. Error Beta   
1 (Constant) .399 .126  3.164 .002 
 Formal Education and Skills (FES) .145 .061 .163 2.376 .018 

 Experience (EX) .074 .064 .083 1.159 .248 
 Professional Network (PN) .006 .063 .006 .090 .929 

 Compensation and Benefits (CB) .067 .071 .074 .936 .350 
 Career Enhancement (CE) .224 .067 .242 3.356 .001 
 Empowermentand CE(ECE) .311 .063 .343 4.917 .000 

a. Dependent Variable: Competitive Advantage. 

 
Further, Table 5 results are indicating significant value of three independent variables such as Formal 

Education and Skills= Beta is .163 and Significance is .018, Career Enhancement= Beta is .242 and 
Significance is .001, and Empowerment and Conducive Environment= Beta is .343 and Significance is .000. It 
means the raise of 1 in Empowerment and Conducive Environment   then Competitive Advantage will 
increase by 34.3%, and same is other two significant variables. Whereas remaining three independent variables 
results are insignificant.   

Secondly, the regression analysis was again applied on Model-II to check the impact of mediating variable 
on dependent variable.  Results are indicating at Table 7 that Coefficient is F= 215.929 with significant value 
of .000b, it shows that overall impact of model-II if significant. Whereas at table no.6 the R=.721 this shows 
that mediating variable is impacting on dependent variable, this shows that 72.1% variance in dependent 
variable because of mediating variable.  
 

Table-6. Model Summary. 

Model R R Square Adjusted R Square Std Error of the Estimate 
1 .721a .520 .518 .628 

b. Predictors:(Constant),Competitive Advantage. 
 

 
 
 

 
 
 



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Table-7. ANOVA a. 

Model Sum of Squares df Mean Square F Sig. 

 Regression 85.120 1 85.120 215.929 .000b 
1 Residual 78.447 199 .394   
 Total 163.567 200    

c. Dependent Variable: Firm Performance. 
d. Predictors:(Constant), Competitive Advantage. 

 
Table-8. Coefficients a. 

Model Unstandardized 
Coefficients 

Standardized 
Coefficients 

t Sig. 

B Std. Error Beta   

 (Constant) .605 .126  4.789 .000 
1 Perceived Performance .746 .051 .721 14.695 .000 

a. Dependent Variable: Firm Performance. 

 
Further results are indicating at Table 8 that the significant value of mediating variable i.e.  Beta is .721 

and Significance is .000, it means the raise of 1 in Competitive Advantage then Firm Performance will increase 
by 72.1%.  
 
4.4. Sobel Test 

For further cross check the regression analysis results, the Sobel test was applied to reconfirm the results 
and check the effect of independent variables on dependent variable through mediating variable. Results of 
Sobel test are exhibited at Table 9.   
 

Table-9. Sobel Results. 
Variable Sobel test statistic Two-tailed probability Sig. 
Formal Education and  Skills 2.34627065 0.01896233* 

Experience 1.15265451 0.24905222 
Professional Network 0.09523608 0.92412732 
Compensation and Benefits 0.94170435 0.34634403 

Career Enhancement 3.25923492 0.00111713* 
Conducive Environment  4.67732803 0.00000291* 

     *Significant. 

 
Sobel test results are indicating that there is significant impact of Formal Education and Skills, Career 

Enhancement and Conducive Environment (Independent variable) on Firm Performance (Dependent variable) 
through Competitive Advantage (Mediating variable).Whereas there is no significant impact of Experience, 
Professional Network and Compensation and Benefits on Firm Performance through Competitive Advantage.  

The overall regression analysis depicted that Human Capital has strong impact on firm performance, it is 
performing major role in competition which exist among automobile sector. Education and Skills, Career 
Enhancement and Empowerment and Conducive Environment are important factors of Human Capital, which 
make employees capable and motivate them to go extra miles and perform major role for their firms in 
competition. 
 

5. Conclusion 
This research study illustrates that HC has major role in completion, it develop creative thinking and 

resolve the problems of Automobile firms to lead in globalization. HC consists of those employees who 
acquired distinguish knowledge and have motivation to think beyond the box and identify as well as develop 
those products which meet the customers’ needs. HC is not only focus on present need of customers but also 
predict the future needs of market and provide firm long sustainability in business competition. There is great 
need for automobile and other manufacturing firms of Pakistan to understand the significance of HC as 
compare to other resources in firm performance, so that maximum main manpower of firms may be converted 
in experts to run the firms in effective way. Further, firms need to focus and enhance the education and skills 
of employees, focus on career development of employees, delegate the powers to their employees to empower 
them to take decision at their own end and provide them   conducive environment, so that they can develop 
creative ideas for the development of innovative and quality products to attract attention of local customer as 
well as foreign customers. In this study only light transport vehicle manufacturing units were focused whereas 
automobile sector is vast field and there is great need to conduct comprehensive research study on complete 
automobile sector which should include heavy transport vehicle and spare parts manufacturing units of 
Pakistan so that it can contribute progressive role in growth of economy. 
 
 
 



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