There are two dimensions behind why academics and HR professionals have embraced SHRM, which are the "rational choice" view and the "constituency-based" view.
The "rational choice" view simply points out that there is managerial logic in focusing on people's skill and intellectual resources that could produce competitive advantage, given that technological advantages could quickly perish from newer inventions.
The "constituency-based " view explains that SHRM was embraced by academics in order to give attention to HRM as a field of study, and in the case of HR managers, to appear more "strategic" to appeal to their organization.
In conclusion, there seems to be a group of people who practice SHRM because they believe that it will produce competitive advantage in business. The other group uses the concept of SHRM as a business opportunity.