scholarly journals Measuring the efficiency of human capital

2021 ◽  
Vol 5 (2) ◽  
pp. 1-17
Author(s):  
Nemanja Veselinović ◽  
Bojan Krstić ◽  
Martina Veselinović
Keyword(s):  
Human Capital ◽  
Labour Productivity ◽  
Relevant Information ◽  
Global Competition ◽  
Productivity Analysis ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Financial Strength ◽  
Constant Change ◽  
Capital Efficiency

Increased efficiency is a necessity for any company in the knowledge-based economy, rather than an option, in the circumstances of constant change and global competition. The efficiency of using resources, especially intellectual resources, is a crucial factor in assessing the financial strength of an enterprise. Since intellectual resources are immaterial and mainly invisible, measuring and managing them is difficult. Measuring human capital efficiency provides relevant information for management, as human capital significantly affects a company's performance. The aim of the paper is to explain the importance of measuring human capital efficiency through selected conventional and contemporary indicators. This paper will show what managerial information we could get thanks to the quantification of human capital efficiency in using the specific indicators in the labour productivity analysis.

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.

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.

The Creative Class and the Shift Towards the Knowledge Economy in Egypt

2021 ◽  
pp. 85-101
Author(s):  
Hiba Muhammad Aboaleneen
Keyword(s):  
Knowledge Economy ◽  
Secondary Data ◽  
Review Literature ◽  
Creative Class ◽  
Global Competition ◽  
Literature Analysis ◽  
Knowledge Based ◽  
Knowledge Based Economy

This chapter discusses the role of the creative class in the shift towards a knowledge economy in Egypt and aims to know whether the Egyptian society has an effective creative class capable of creating knowledge, disseminating it and employing it, and solving society's problems in line with the nature of the knowledge economy. This is done by spotlight on the changes in economic patterns and employment development in Egypt, revealing the emergence of a creative class that works as a driver to push the Egyptian economy to shift towards a knowledge economy, and illuminating the most important challenges that hinder its performance and effectiveness. The research follows a method of re-analysis, review literature, analysis of secondary data, and available statistics. The research came out with some recommendations which activate the performance of the creative class to shift towards a knowledge-based economy and global competition.

Regional Development and Proactive Interaction

2004 ◽  
Vol 18 (5) ◽  
pp. 321-327 ◽  
Author(s):  
Kari T. Laine
Keyword(s):  
Higher Education ◽  
Knowledge Management ◽  
Regional Development ◽  
Knowledge Economy ◽  
Global Competition ◽  
Cluster Approach ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Knowledge Circulation ◽  
Regional Development Strategies

In a knowledge-based economy higher education institutions (HEIs) and specialized research units have an important role to play in bringing knowledge to the regions. The first and perhaps most important step for an HEI is to understand the needs of regional industry Only then can it work in close and effective collaboration with firms. In this paper Finland's Satakunta Polytechnic (SPT) is used as a case example to examine what practical actions an HEI can take to increase interaction with industry and achieve better knowledge circulation. The paper describes the models and tools developed at SPT towards these ends, including strategy-based regional development, the cluster approach to development, the partnering process, knowledge management and the ‘SNIFF’ process (‘Searching for New Innovations For Firms’). It is stressed that regional development strategies must take into account the wide-ranging impacts of global competition and economics and thus regional actions must be compatible with the demands of global competition and the knowledge economy.

scholarly journals ECONOMIC GROWTH, ENERGY CONSUMPTION AND HUMAN CAPITAL FORMATION: IMPLICATION FOR KNOWLEDGE-BASED ECONOMY

2020 ◽  
Vol 10 (1) ◽  
pp. 37-43 ◽  
Author(s):  
Bosede Comfort Olopade ◽  
Henry Okodua ◽  
Muyiwa Oladosun ◽  
Oluwatoyin Matthew ◽  
Ese Urhie ◽  
...  
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Energy Consumption ◽  
Capital Formation ◽  
Human Capital Formation ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Growth Energy
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