Académique Documents
Professionnel Documents
Culture Documents
"The most valuable of all capital is that invested in human beings. Alfred Marshall, Principles of Economics
Human capital is a key for business growth and the growth of an economy.
Training
The method to create the human capital can be categorized into two types:
The first is to utilize human as labor force in the classical economic perspective. This meaning depicts that economic added-value is generated by the input of labor force as other production factors such as financial capital, land, machinery and labor hours.
The other is based on the assumption that the investment of physical capital may show the same effectiveness with that of human capital on education and training. The human capital expansively includes the meaning of human as creator who frames knowledge, skills, competency, and experience originated by continuously connecting between self and environment.
Building human capital is clearly a complex challenge requiring actions at three levels:
Firstly, the government which has an important role to play in ensuring that policies and institutions succeed in linking skills to productivity, employment, and development. Secondly, enterprises have role in providing workplace-based learning and training programmes that developing enterprise specific competencies.
Thirdly, individuals also have a responsibility for their own development through further education, training and lifelong learning opportunities.
The quantity and quality of human capital is essential to the operation of just about any type of public or private enterprise, prosperity and competitiveness of nations.