The impact of ICT and human capital on achieving knowledge-based economy: applications in Malaysia's economy

2006 ◽  
Vol 3 (3) ◽  
pp. 270 ◽  
Author(s):  
Elsadig Musa Ahmed
Keyword(s):  
Human Capital ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
The Impact

ICT and Human Capital Role in Achieving Knowledge-Based Economy: Applications on Malaysia's Manufacturing

2006 ◽  
Vol 05 (02) ◽  
pp. 117-128 ◽  
Author(s):  
Elsadig Musa Ahmed
Keyword(s):  
Growth Rate ◽  
Human Capital ◽  
Manufacturing Sector ◽  
Geometric Progression ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Information And Communication ◽  
Ict Development ◽  
The Impact ◽  
Better Than

Using Information and communication technology (ICT) in the activities of Malaysia's manufacturing sector contributes significantly to its productivity growth in general and total factor productivity (TFP) growth of the sector in particular. This study assumes that the use of ICT in the manufacturing sector is increasing from year to year in the form of a geometric progression due to the rapid innovations of ICT around the globe. Labour input was subdivided into skilled semi-skilled and unskilled, to measure the achievement of the knowledge-based economy (K-economy) through human capital involved in the sector. The results of this study show that the contribution of the ICT used in the sector was the highest one among the input terms. This means that achieving K-economy through ICT is faster than achieving it through the human capital and other traditional inputs. The impact of ICT on TFP contributions is significant and better than skilled labour as an indicator of knowledge workers (human capital) that showed a very low contribution of TFP. But the growth rate of TFP is lower compared with the growth rate of the ICT. As a result, the achievement of the K-economy is not in a geometric progression like that of the ICT development.

scholarly journals УТИЦАЈ ЉУДСКОГ КАПИТАЛА НА ПОСЛОВНЕ ПЕРФОРМАНСЕ ХОТЕЛСКИХ ПРЕДУЗЕЋА У СРБИЈИ

TEME ◽  
2019 ◽  
pp. 1339
Author(s):  
Marko Slavković ◽  
Jasmina Milorad Ognjanović
Keyword(s):  
Human Capital ◽  
Business Performance ◽  
Differentiated Products ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Structural Relationships ◽  
Production And Consumption ◽  
Service Production ◽  
The Impact ◽  
Modeling Equation

In a knowledge-based economy, the success, growth and development of hotel companies relies in a large extent on knowledge, since employees are directly involved in the process of service production and consumption. The results of numerous studies demonstrate the impact of human capital on business performances, so management must invest and improve human capital in order to create differentiated products / services and ensure a stable competitive position. The main goal of the research is to analyze the interdependence of human capital components and business performance of the hotels in Serbia. The research results confirm the influence of human capital on the non-financial performance of hotel companies. In order to test the structural relationships between variables, reliability analysis, factor analysis and structural modeling equation are employed.

Innovative Techniques and Strategies of Skill Building for Human Resource Development in SMEs, India

2016 ◽  
Vol 2 (2) ◽  
Author(s):  
Arti Awasthi
Keyword(s):  
Human Capital ◽  
Human Resource Development ◽  
Skill Development ◽  
Education And Training ◽  
Global Competitiveness ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Key Factor ◽  
Skill Building ◽  
And Training

India has gradually evolved as knowledge based economy due to the abundance of capable, flexible and qualified human capital. With the constantly rising influence of globalization, India has immense opportunities to establish its distinctive position in the world. However, there is a need to further develop and empower the human capital to ensure the nations global competitiveness. Despite the empathetic stress laid on education and training in this country, there is still a shortage of skilled manpower to address the mounting needs and demands of the economy. Skill building can be viewed as an instrument to improve the effectiveness and contribution of labor to the overall production. It is as an important ingredient to push the production possibility frontier outward and to take growth rate of the economy to a higher trajectory. This paper focuses on skill development in Small and Medium Enterprise (SMEs) which contribute nearly 8 percent of the country's GDP, 45 percent of the manufacturing output and 40 percent of the exports. They provide the largest share of employment after agriculture. They are the nurseries for entrepreneurship and innovation. SMEs have been established in almost all-major sectors in the Indian industry. The main assets for any firm, especially small and medium sized enterprises are their human capital. This is even more important in the knowledge based economy, where intangible factors and services are of growing importance. The rapid obsolescence of knowledge is a key factor of the knowledge economy. However, we also know that for a small business it is very difficult to engage staff in education and training in order to update and upgrade their skills within continuous learning approach. Therefore there is a need to innovate new techniques and strategies of skill development to develop human capital in SME's.

scholarly journals Regulation of Lifelong in Education and İts Economic, Social Benefits

2021 ◽  
Vol 12 (6) ◽  
pp. 1298-1310
Author(s):  
Allahyar Muradov Et al.
Keyword(s):  
Human Capital ◽  
Social Problems ◽  
Labour Productivity ◽  
Economic Benefits ◽  
Social Benefits ◽  
Development Economic ◽  
Knowledge Based ◽  
The Future ◽  
The Impact

Sustainability in education is important in ensuring knowledge-based and innovation-driven development and human capital reproduction. Sustainability is particular important for the prevention of some economic and social problems that may arise in the future and raising the competitiveness of the country. Sustainability - the prevention as some of economic and social problems that may arise in the future is of particular importance in raising the country's competitiveness. The aim of the research is to estimate the economic-social benefits of regulation of sustainability in education and to give the suggestions in the direction of the improvement of the effectiveness of the regulation. The impact of continuity in education on the formation and development of human capital, knowledge-based society building, labour intelligence, competitiveness and the improvement of welfare are assessed cross-country in the article. In particular, in recent years, researches and politicians have analysed the ‘4th industry’ revolution (‘Industry 4.0’) ‘the benefits and losses in the medium and long-term perspective and its interaction with the sustainability of education. Here are two issues: 1) socioeconomic disadvantages of ensuring sustainability in education, 2) socioeconomic advantages of ensuring sustainability in education. Firstly, it is analysed the impacts of increased unemployment, reduction of employment income, declining social security and welfare that will be resulted as problems on economic development. Secondly, it is analysed (ensuring in sustainability condition) the distinguished factors of rapid technological innovation, labour productivity, repatriation of human capital, raising competitiveness on the international level, innovation-based development, economic benefits of knowledge and skills.

The Formation of Human Capital and Its Relationship With the Knowledge Society in Mexico

2019 ◽  
pp. 50-63
Author(s):  
María del Rocío Soto Flores ◽  
Ingrid Yadibel Cuevas Zuñiga ◽  
Susana Asela Garduño Román
Keyword(s):  
Human Capital ◽  
Social Life ◽  
New Technologies ◽  
Knowledge Society ◽  
Main Element ◽  
Global Level ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
The Relationship ◽  
And Training

The processes of economic globalization and accelerating technological change have led to changes in economic and social life at a global level. New technologies, such as the TICs, systems of artificial intelligence, scanning, connectivity, nanotechnology, and biotechnology, among others, have transformed the national productive structures and human capital that require technologies disruptive today. In this context, education has become the main element of the knowledge society and training of human capital that demands a knowledge-based economy. The objective of the chapter is to analyze the relationship between human capital formations in the construction of a society of knowledge in Mexico. The structure is organized in three sections: 1) an analysis of the knowledge society, 2) the formation of human capital and the institutions of higher education in the knowledge society, and 3) human capital formation and its relationship in the construction of a society of knowledge in Mexico.

ICT for Educational Excellence in Jordan

2013 ◽  
pp. 119-135
Author(s):  
Atef Abuhmaid
Keyword(s):  
Private Sector ◽  
Education System ◽  
Large Scale ◽  
Ministry Of Education ◽  
National Interests ◽  
Planning Stage ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
External Assistance ◽  
The Impact

This chapter discusses the Jordanian Ministry of Education’s reliance on both the local private sector (public-private partnership) and foreign aids in order to accelerate its integration of ICT to meet the needs and demands of the knowledge-based economy. The discussion sheds light on strings attached to the role played by the Ministry of Education, as the central educational authority, in the diffusion of ICT across the education system. Understandably, in the Jordanian context, likewise other countries in the Middle East and North Africa region, the education system has to deal with a great deal of complexities in which, internal and external issues can impede reform efforts. Partnership with local and international partners might be needed in the Jordanian context in order to initiate reform especially the large-scale and costly ones. ICT-related reform initiatives are expensive and require expertise in various areas which might justify seeking external assistance by the educational system. However, external involvement can impact the integrity of the educational reform when it is left with inadequate coordination and efforts in order to keep them in line with national interests and agendas. Furthermore, the impact of these issues can be severer when they are not taken into account during the planning stage of the reform. Thus, this chapter discusses major issues arose when international partners and the local private sector were involved in ICT-based education initiatives in Jordan.

scholarly journals Toward Knowledge-Based Economy: Innovation and Transformational Leadership in Public Universities in Texas and Qatar

2019 ◽  
Vol 11 (23) ◽  
pp. 6721 ◽  
Author(s):  
Reem S. Al-Mansoori ◽  
Muammer Koç
Keyword(s):  
Transformational Leadership ◽  
Leadership Style ◽  
Public Universities ◽  
Power Distance ◽  
The United States ◽  
Cultural Dimension ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Transformational Leadership Style ◽  
The Impact

The essentiality of the universities’ roles in enhancing economies and transforming societies is a global mantra. However, when it comes to wealthy and oil-dependent states such as Texas in the United States and Qatar in the Middle East, the impact of universities on sustainable economic development is questionable. This article discusses the transformational efforts within engineering colleges at two public universities in Texas and in Qatar to support their states’ visions in moving toward innovative and knowledge-based economies. The study examined the innovation capacity building of both institutions through measuring the transformational leadership styles in engineering colleges and its impact on the faculty’s innovative production of technical articles, patents, and sustainable development-related courses. The cultural impact of the two contexts on the leader–follower relationship was addressed in the discussion using Hofstede’s cultural dimension framework. The results showed that leaders in both colleges possess a transformational leadership style, albeit lower than the norm. This study disclosed that, in the high-power distance contexts, the idealized image of the leader contributed positively toward higher satisfaction of the followers with their leaders and current governance systems, while acknowledgment and rewards were the sources of satisfaction in low-power distance societies. Followers in a low uncertainty avoidance, individualistic, and short-term-oriented context achieved higher technical production. Both public universities expressed the need for government involvement in supporting the culture of innovation.

scholarly journals THEORETICAL ASPECTS OF HUMAN CAPITAL AND ITS MEANING IN THE CONTEXT OF KNOWLEDGE-BASED ECONOMY

2013 ◽  
Vol 1 (5) ◽  
pp. 226
Author(s):  
Daina Znotiņa
Keyword(s):  
Human Capital ◽  
Historical Development ◽  
Positive Impact ◽  
Successful Implementation ◽  
Knowledge And Skills ◽  
Research Education ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
General Welfare ◽  
Science And Research

Human capital is closely related to the economic behaviour of an individual, especially to the way in which accumulated knowledge and skills increase person’s productivity and income, thus increasing the general welfare of a society. Within the Article, the author studies the historical development of the theory of human capital, paying attention to opinions, expressed by founders of this issue - T.Schultz and G.Becker. There are considered changes of competences of employees, growing out of transition from skills-based economy to knowledge-based economy. There is no united approach concerning researches on human capital in order to determine the content of human capital; there is a lack of unified opinion regarding its creation, therefore the author considers the interpretation of the content of human capital in scientific works of several Latvian and foreign authors. During the research, education was analyzed as one of the main elements of creation of human capital, because knowledge-based economy broadens the signification of self-education, lifelong learning; it demands improvements in the fields of science and research as well as quality improvement of working skills. As a result of successful implementation of these factors, it is possible to reach a positive impact on economic development of a region.

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