“…According to Schuler (1994), in a worldwide IBM study, 67% of the CEOs and 72% of the executives believed that the HR is critical to the success of business today. Similar concern regarding the HR role and effectiveness in the new business context has been articulated across the world (Shandur & Teo, 1999;Schular, Dowling and Decieri, 1993;Scarpello, 1994;Ulrich, 1998;Wright and McMahan, 2001;Bowen, Galang & Pillai, 2002;Mitsuhashi, Park, Wright & Chua, 2000;Tung-Chun Huang, 2002;and Agarwala, 2002. Empirical studies have also found that efficient use of HR has been instrumental in forging larger gains.…”