Human Capital Investigation and Identification Its Key Criteria of the Article (original) (raw)
Related papers
On the Concept and Dimensions of Human Capital in a Knowledge-Based Economy Context
Canadian Public Policy / Analyse de Politiques, 1999
Les changements technologiques de même que la globalisation des marchés transforment les pays industriels en économies axées sur la connaissance, faisant ainsi du capital humain un thème principal des politiques publiques. Cependant, les mesures existantes de l'investissement ne permettent pas de comprendre toutes les implications du capital humain sur la performance économique et les progrès technologiques. Cet article discute les éléments d'une définition complète du capital humain et identifie les différences fondamentales entre capital physique et humain. Il montre que ces différences de même que les caractéristiques principales du capital humain ont des implications pour la comptabilité nationale, la classification des dépenses gouvernementales et la littérature sur la croissance endogène. Technological changes, along with the globalization of markets, are transforming industrial countries into knowledge-driven economies. This shift has made human capital one of the leading public policy themes. However, existing measures of investment do not allow policymakers to comprehend fully the implications of human capital on economic performance and technological advancement. This paper discusses the elements of a comprehensive definition of human capital and identifies the fundamental differences between human and physical capital. It shows that the main features of human capital and its differences with physical capital have implications for national income accounting, the classification of government expenditures, and the endogenous growth literature.
Knowledge as Human Capital, in Correlation with the Demographic Factors
2018
Over the time, the mankind has encountered various forms of economic development. A point of reference is represented by the Industrial Revolutions, which laid the foundation of today's economy, specific to each country. Nowadays, people access the multiple opportunities generated by the advanced technology and opportunities in order to achieve a high step in acquiring knowledge. Given that, most often, in one’s development may appear certain impediments, we believe it is necessary to analyze the demographic factors that highlight the correlation between the status of the individual, the need for knowledge and financial possibilities. It is also necessary to know and analyze the types of income and their impact on the individual status. From a theoretical point of view, we believe it is safe to say that we are witnessing the so called ”Third Industrial Revolution”, also known as the ”Knowledge Revolution”. Thus, if the generalized used of steam power is considered the First Indu...
Journal of Legal, Ethical and Regulatory Issues, 2021
This research paper talks about a significant subject spoke to in the human capital, which is handled as a cutting-edge ide which thinks about people's capacities, possibilities, and abilities as the foremost capital of present-day Organizations. Managing the job of "personnel undertakings human resources" is not any more limited to how to draw in, select, enlist, train labor force, and follow up their profession issues. Such job has changed in the light of the new impression of the human capital, which is recognized as: total people's perspectives, mastery, knowledge, innovativeness, energy, and eagerness towards their professions. It encompasses the intrinsic and acquired capacities of each individual and incorporates education, knowledge, training, experiences, talents, energies, creativity, and core competencies of organizations' human resources. The paper likewise centers on the connection between human capital and knowledge. It shows a solid contact between the scholarly capital and the human capital which lies in the way that the scholarly capital tends to the organization's knowledge. Besides, it centers around development and imagination and persuades confronting difficulties and danger taking at work and looks to accomplish the upper hand through producing groundbreaking thoughts. The human capital is the sole asset that can accomplish this since its principle trademark is the assortment and variety of gifts and aptitudes, which require exceptionally experienced work force, different knowledge and quality capacities which are the primary segments of the human capital. Moreover, the exploration tends to the human capital as a novel source which is inimitable and difficult to copy and it additionally features the authentic phases of interest in human capital. At last, the exploration inspects the issue of estimating the human capital and its significance in the Organizations techniques to recognize their human resource and limits. In this specific situation, the measurement issues are recognized, the fundamental essentials and prerequisites are resolved, and the most applied measurements are finished up.
Comprehensive Development of Human Capital as an Aspect of Innovative Economies of Future
Rapid technological advances in Management Information Sciences (MIS) and smart mechanization of social and economic development depend on the intellectual capacity of the human capital, which has become the most influential factor in the development of innovative products in this last economic structure based on knowledge. The Global Innovation Index (GII) provides a tool for performance evaluation, assessing innovation capacity, and refining innovation policies necessary for the optimum growth of the economy. The most critical problem of economies with a large young population has turned into a young and educated unemployed population. In this framework, the relationship between education and employment has transformed into different forms, and the key source of wealth has been the qualitative aspect of human capital as an economic factor. We assume that human life is on the services provided by all creatures in orchestration and that the ephemeral lifespan is the ultimate human capital. This study argues that the structure of education and training must align with the community's futuristic needs considering both cultural and religious orientations in line with the competencies and professional expertise required for innovation that could be used for both the worldly life and the hereafter. This can require a change in the techniques and methods used in education that can train versatile, responsible, capable of reasoning, learning, forward-leaning, and facilitating understanding of the requirements.
The Necessity of the Development of the Human Capital Concept
Annals of Philosophy, Social and Human Disciplines, 2012
Human Capital is considered an investment, but of a special and qualitative kind. We emphasize that there are levels of defining the concept: investments in health, education, training and specializing, and the upper level, the stock of skills, talent, knowledge, embodied in the human personality as a participant to the economic, social, cultural, activities; micro and macro approaches. In this period, we can speak about a global overview regarding the two or more levels of human capital. This is mostly pointed when discussing the educational and the health capital and, on the other hand, the biological capital. We have to understand the concept in the inter-relation between the two levels and with the business and natural environments. Important is the causal chain in the construction of Human Capital: investments in health care and education → the impulse to ensure the formation and the modeling of the capabilities, skills and other specific biological stocks → the effective actio...
It is the 21st century; every state desires to develop itself more rapidly. After the Second World War in 1945, industrial, individual, and communication revolutions transformed the world into a global village. The internet, cyber space, and e-mail have compressed the world into a smaller region. Every sane individual can easily have an access to all types of changes occurring in the world. Thanks to the communication revolution, nothing is hidden from the eyes of human beings. In this regard, every state in the world is looking for its specific role in the world. In this regard, every state in the is looking for its specific role in the world. The economy is not only the sole source of development in a state but these are the men behind all types of amelioration. The knowledge, skills and hardworking of the individuals sustain the economy of a state. Traditionally only the land labour and physical resources were considered important means of production. Undoubtedly, man and material resources are unavoidably necessary for the economic growth of a country. In this century, without manpower all other resources are futile. This paper is based on the thesis that human capital consists of manpower, skill, and knowledge, is sine qua non for economic growth. The economics of education is the perfect investment is the major theme of this paper.
Human Capital and Its Influence on Economic Development
Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie, 2015
The present paper had as starting point the idea according to which human capital and investment in human capital, and respectively investment in education, can be considered key determinant of economic growth and development. Our paper draws attention to the conditions necessary so that the effects of education on human capital development and economic development should record maximum values. The paper emphasizes the idea that investments in education become ineffective unless accompanied by a suitable and appropriate strategy for economic and social development, based on socioeconomic and political stability, and by the existence of a direct relationship between income, occupation and level of education and professional training. Our analysis also involves the concepts of social capital and psychological capital, both being considered as influencing development theory, practice and policy; although they bring about less clear and direct results, these two forms of capital are considered to improve the economic activity background in a way similar to technical infrastructure; social capital influences the quality of education and health, facilitates access of individuals to markets, supports complex operations and enables the activities' long-term planning. The paper draws attention to the multidimensional character of the economic development, considering that economic development can therefore express all quantitative, qualitative and structural transformations occurring both within economic processes and along scientific research and manufacturing technologies, in the mechanisms regarding the operation of the economy, namely thinking patterns and the behavior of individuals. On the other hand, the New Economy is described synonymous with a knowledge economy in the broader context of the knowledge society-considering the knowledge based economy, knowledge representing an important factor in determining economic growth.
Developing human capital through education
The 5th. World Congress of Research in Education, Rusia, ISBN 0-557-72797-9, 2017
The concept of capital has been examined in the literature in its various aspects: financial, organizational, structural, social, relational, human, and intellectual. The paper aims to analyze the evolution of the concept of human capital, starting from the definition given at individual level; namely, human capital is closely related to genetics, education, experience and attitudes of a person. Education and training underpin the development of human capital in an organization, whether public or private. Looking at the ensemble education, human capital and welfare in organization, we see that theories of human capital influence the educational system and labour market. Economists call this process, capital formation, in order to improve productivity in the workplace. In the current society based on knowledge, human capital is one of the engines of economic development. Thus, this intangible capital aims to bring added value to an organization, especially at the top and middle management level. However the term human capital is defined not only by the level of education of the individual, but also by the acquired specific knowledge or experience in the previous job. Using literature review, the paper identifies the elements of human capital, following the historical evolution of the concept, as there is no common definition of human capital, most referring to knowledge, skills, competencies and attributes embodied in individuals, in order to facilitate the creation of personal, social and economic welfare. Further, through Eurostat database, the work explores the relationship between education and the labour market, both at European Union level and in particular for Romania, using indicators such as: the employment rate, education level, number of graduates with higher education, research and development degree.
Human Resource Development in the Knowledge Economy
Lecture notes on multidisciplinary industrial engineering, 2020
Acquiring and sharing of knowledge becomes the key to cuttingedge results on the market. Organization growth, innovation and recognition stem from the ability of its employees to acquire and use knowledge. The underlying business challenge becomes how to attract, develop and retain employees with knowledge. The strategic focus has shifted from "knowledge management" to "managing people with knowledge". In this regard, the strategic development of human resources should provide a framework for the "image" of a modern organization operating within a competitive market, in the knowledge society. It means that it should ensure that people want the change, that they understand it as a challenge and a new opportunity and that they are ready to enter the game where the rules are not finally set, but constantly changing. The knowledge economy requires a new concept of business. The first step on this path is to initiate and motivate employees to accept changes, which involves learning and knowledge management. The goal of learning is to turn knowledge into routines. However, it is worth trying vice versa as well, since the established routines may present a major obstacle to the learning process and changes. For this reason, it is the task of employees and managers to constantly question the purpose of existing routines and turn new knowledge into new routines. This is one of the most challenging implementations of the concept of learning organization. This paper deals with the research of the process of education, training and development of employees in a company in Serbia in the light of the changes brought by the knowledge economy. The aim of the research is to find out whether the organization carries out quality education, training and development of employees, to obtain as objective information as possible regarding this process, as well as to propose possible measures for improving the work, motivation and satisfaction of the employees.