...Hyesuk Shin MGT522 Human Capital May 15, 2013 Reflection Paper While I was reading in Robbins’ (2003) chapter 13, I had an opportunity to re-think topics that I have had a negative prejudice about in the past. “Power and Politics” is an inevitable issue that every organization has faced. As one is promoted to higher levels such as manager, they have to be compelled to be involved in this issue deeply. When I had worked before, previous companies were male-dominated organizations. As I was working as a minority woman manager at an organization, I didn’t want to be involved in men’s political power struggles and conflicts. However, reading chapter 13, “Power and Politics”, I realized why I should know and study this issue further. I totally agreed with Robbins’s (2003) opinion “It’s a reality of organizational life and it’s not going to go away. Moreover, by learning how power works in organizations, you’ll be better able to use your knowledge to help you be a more effective manager” (p.365). Knowledge about power and politics will make me a more effective leader in the future. Personally, I was strongly interested in the part called contrasting leadership and power. As a previous manager, I had seen some bad examples where some CEOs used their power improperly for themselves in the organization. Because of these influences, I came to have a negative prejudice against “A leader who has power easily corrupts”. However, Robbins (2003) asserted that several differences...
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...rapidly, is the ultimate competitive advantage. Jack Welch. Human Capital Theory (HCT) purports that peoples learning capacity when effectively utilised results in profitability for the individual, organisation and society at large. It underlines or seeks to explain why Human Resource Development (HRD) is beneficial not only for the individual, but for the firm and the macro-economy. The extent to which firms undertake training is important in establishing the amount of support for human capital theory. During 2001 – 2002, the Australian Bureau of Statistics reported 81% of all Australian employers provided some training for their employees. Of all employers, 79% provided unplanned or on-the-job training while 41% provided structured or specified content training. These statistics are evidence of employers approach in that training is seen as a necessity; but does management d understand the link between training and improved performance outcomes? Capital is a product that yields returns. Traditionally we associate this with investment funds, land or equipment. Taylorism emerged in the 1890’s and focused on applying science to the engineering process with a view to driving efficiencies by way of increasing productivity by refining processes or reducing inefficiencies via reduced wastage. It was not until the 1950’s that consideration was given that workers contributions could be recognised as capital. The fundamental principle underpinning HCT is the belief that...
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...6191A Labor Economics Human Capital and Education -----------The use of IV based on AK-91’s paper Content 1. Overview of the Human Capital……………………………………………3 (1) Origin of Human Capital…………………………………………………..3 (2) Theory of Human Capital………………………………………………….4 2. The methodology used in the paper………………………………………...5 (1) Ability Bias/Selection Bias………………………………………………….5 (2) Instrument Variables……………………………………………………….6 3. AK-91’s Paper………………………………………………………………...9 (1) Seansonal Pattern………………………………………….…………………….9 (2) Estimating the Return to Education………………..…………………….……….12 4. Conclusion……………………………………………………..……………...15 5. Reference……………………………………………………………………...16 1. Overview of the Human Capital It is obvious that human capital becomes a vital part in our real life. In order to improve the productivity, people want to invest in the human capital more than before. From the Wikipedia, it defines human capital as the stock of competencies, knowledge, social and personality attributes, including creativity, embodied in the ability to perform labor so as to produce economic value. In a simply word, I think human capital is the set of skills which an employee acquires on the job, through training and experience, and which increase that employee's value in the market place. (1) Origin of Human Capital In fact, no one realized the human capital before A.W.Lewis wrote his paper "Economic Development with Unlimited...
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...the first wide scale economic activity. It serves as the sustenance of mankind, the oldest most reliable energy source for human beings; food production. Throughout the ages agriculture as we know it has changed. As economies developed from subsistence to trade and developed trading economies so has agriculture. Currently, in today’s world, we see agriculture as an important industry to any nation. It serves as one of, if not the most, powerful poverty reduction sectors in any nation. This is so because agriculture dominates the rural areas; which are notorious for being resource immobile, isolated and poverty stricken. Henceforth, implications for agriculture and its development becomes an important concern for every nation. Labour being an important factor of production, and one which is most variable in the short run, an analysis on its influence in agricultural production seems almost mandatory. In this sector of interest, the labour available tends to diverge from those of other sectors, in terms of characteristics. Labour in agricultural production is characterized by “a high age of agricultural workers & low levels of educational attainment”(A.Bailey, 2012). This signifies relatively low levels of human capital in the industry and hence restricts the sector from utilizing skilled labour. What is human capital? Human capital can be referred to as the set / stock of skills an individual possess that can be rented out to employers. These skills...
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...Development of Human Capital in Organizations [First name of the author appears here] [Name of the course appears here] [Date of submission appears here] Human Capital Development: Issue of Reducing Income Inequality Introduction Human capital is the set of skills, talents, skills, experiences accumulated by an individual which determine their ability to produce for themselves or for others. Human capital theory works by analogy to that of financial or physical capital. It is considered that human capital is composed of three elements that together determine a certain ability of an individual to work: namely, skills, experiences and knowledge. Human capital can be developed through continuing education and attention to the health of an individual. The inclusion of human capital in the economic analysis is an important step. It is generally theorized that accumulation of human capital is a key driver of economic growth. According to economists, dissemination of knowledge to general population allows increasing returns and generates positive externalities. Therefore, it is a central concept of development economics that investment in human capital should be the foremost priority of developing countries. Foreign direct investment refers to international movement of capital across national boundaries. This may take the shape of creation of a subsidiary abroad or to exercise control on the management of a company in another country. The effects of FDI are generally considered...
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...Topic of Research Proposal: HUMAN CAPITAL AND SUSTAINABLE DEVELOPMENT OF THE NIGERIAN ECONOMY. Background of the Study Human Capital has been recognized globally as one major factor that is responsible for the wealth of nations. According to Smith (1776) and Folloni & Vittadini (2010), human capital refers to the acquired and useful abilities of all the inhabitants or members of the society. Without adequate investment in developing the human capital which is the process of increasing knowledge, skills and the capacities of people in the country, the possibility of sustainable development might be minimal. Investment in the human resource determines the type, quality, availability and productivity of the nation’s manpower. It involves the socio-economic development strategies (European Commission, 2007) critically needed to facilitate sustainable development. One major challenge facing Nigeria as a nation within the global community, is how to achieve sustainable development. According to the IMF (2002), sustainable development is made of three pillars. They are economic development, social development and environmental development. The essence of these pillars are to maintain and enhance the capacity and capability of future generations while meeting the needs of the present generation. To accomplish these multi-dimensional tasks, human capital should be strategically cultivated and positioned for the preservation of both the present and the future economic growth and development...
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...Author manuscript, published in "Regional Studies (2011) 1" Regional Studies DOI : 10.1080/00343404.2010.543893 rP Fo PROFITABILITY OF INVESTMENTS IN EDUCATION. EVIDENCE FROM SPANISH REGIONS Journal: Manuscript ID: Manuscript Type: JEL codes: Keywords: peer-00677964, version 1 - 11 Mar 2012 http://mc.manuscriptcentral.com/cres Email: regional.studies@fm.ru.nl ee Regional Studies CRES-2009-0336.R1 Main Section O18 - Regional, Urban, and Rural Analyses < O1 - Economic Development < O - Economic Development, Technological Change, and Growth, O47 - Measurement of Economic Growth|Aggregate Productivity < O4 - Economic Growth and Aggregate Productivity < O - Economic Development, Technological Change, and Growth, R11 - Regional Economic Activity: Growth, Development, and Changes < R1 - General Regional Economics < R - Urban, Rural, and Regional Economics economic development, education, productivity, rate of return rR ev ie w On ly Page 1 of 37 Regional Studies 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 PROFITABILITY OF INVESTMENTS IN EDUCATION. EVIDENCE FROM SPANISH REGIONS Enrique López-Bazoa Fo rP a Rosina Morenob University of Barcelona peer-00677964, version 1 - 11 Mar 2012 European Commission, Joint Research Centre (JRC), Institute for Prospective Technological Studies (IPTS), C/ Inca Garcilaso 3...
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...TI 2011-061/3 Tinbergen Institute Discussion Paper Entrepreneurship and Role Models Niels BosmaA Jolanda HesselsB,C Veronique SchutjensA Mirjam van PraagD Ingrid VerheulE Utrecht University; B EIM Business and Policy Research, Zoetermeer; C Erasmus School of Economics, Rotterdam; D Faculty of Economics and Business, University of Amsterdam; E Rotterdam School of Economics; all in the Netherlands. A Tinbergen Institute is the graduate school and research institute in economics of Erasmus University Rotterdam, the University of Amsterdam and VU University Amsterdam. More TI discussion papers can be downloaded at http://www.tinbergen.nl Tinbergen Institute has two locations: Tinbergen Institute Amsterdam Gustav Mahlerplein 117 1082 MS Amsterdam The Netherlands Tel.: +31(0)20 525 1600 Tinbergen Institute Rotterdam Burg. Oudlaan 50 3062 PA Rotterdam The Netherlands Tel.: +31(0)10 408 8900 Fax: +31(0)10 408 9031 Duisenberg school of finance is a collaboration of the Dutch financial sector and universities, with the ambition to support innovative research and offer top quality academic education in core areas of finance. DSF research papers can be downloaded at: http://www.dsf.nl/ Duisenberg school of finance Gustav Mahlerplein 117 1082 MS Amsterdam The Netherlands Tel.: +31(0)20 525 8579 ENTREPRENEURSHIP AND ROLE MODELS Niels Bosma A, Jolanda Hessels B, C, Veronique Schutjens A, Mirjam van Praag D, Ingrid Verheul E A Faculty of Geosciences, Department...
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...2008 10.2478/v10061-008-0005-y Intellectual Capital Measurement Methods Jolanta Jurczak* Introduction Evolution of economy has caused important changes in activity of companies on the global market. Nowadays we are observing a growth the importance of intellectual resources as an effective tool for increasing corporate competitiveness. This fact has caused the need to manage companies and to measure their performance in a new way. Measuring Intellectual Capital is essential and very important in order to compare different companies, to estimate their real value or even to control their improvement year by year. Also to improve the way in which companies manage its intellectual resources that generate value and give back some benefits in consequences maximizing advantages for the company. Authors like Kaplan and Norton (1996), Stewart (1997), and Kerssens (1999) use phrases like “If you can’t measure it, you can’t manage it” to justify the search for new Measurement Methods.1 But to measure Intellectual Capital is necessary to determine exactly what the Measurement Methods are, which are the best and which the company should choose to evaluate its assets in proper way. Properly using Intellectual Capital Measurement Methods can cause the creation of competitive advantage and in consequence create development of the whole company at the present day. The Concept and Classification of Intellectual Capital Intellectual Capital (IC) are an increasingly important part of running...
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...Advancing Australia’s ‘Human Capital Agenda’( Gary Banks Chairman, Productivity Commission Introduction It is a privilege to have been invited to give the fourth Lecture in this annual series in honour of Ian Little. Ian was a passionate advocate for good public policy and for reform — within his own state and nationally. This was grounded in an equally strong attachment to good analysis and evidence in support of policy decisions. As Secretary of the Victorian Treasury, he championed the use of quantitative analysis, including the development of an input/output based model of the Victorian economy, to gain a better understanding of the effects of policy changes on different industries and on the State’s overall economic performance. It was under his and John Brumby’s stewardship of the Treasury portfolio that the Victorian Competition and Efficiency Commission was established, to provide rigorous arms-length analysis and advice on key policy issues affecting the welfare of Victorians (akin to the role of the Productivity Commission at the national level). Victoria’s more systematic attention to good analysis and policy innovation commenced in the 1990s. It has yielded considerable benefits for Victoria’s citizens since then, not only in the comparative economic performance of this State, but also in its achievements in the social and environmental domains. Victoria was a first mover in the ‘second wave’ of economic reforms in the 90s — reforms that...
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...successful in venture creation. Also, opportunity recognition means the perceiving possibility of starting a new business and leading to considerable profit. There are two types opportunity recognition ‘internal perspective’ and ‘external perspective’. Internal perspective means entrepreneurs should make sure that problems and needs identified before make a decision which is risky, but external perspective denotes they should make the decision to start a venture precedes opportunity recognition. Most of entrepreneurs looked at three methods of discovery opportunity recognition ‘active searching’, fortuitous discovery’ and ‘opportunity creation’. However, social capital and human capital might be affected on opportunity recognition when entrepreneur creates a new business. This paper is going to discuss how human capital and social capital influence on each method of discovery opportunity and how those three methods help entrepreneurs to recognize valuable opportunities. The first significant theoretical model of opportunity identification is an active search, and those people who are advocating the active search method propose that individuals recognize opportunity through purposeful, deliberate, conscious search. For instance,...
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...Chapter 1: Supply of labor: depends on: * Positively on wage * Negatively on alternate wage * Positively on population size Demand for labor: * Increase in W lowers demand * Demand for steel reaises demand for L * Rental price increase demand for labor if K and L are subsititutes * Substitution and scale effect- increase in w increase production and increases steel price, cut back on steel and less need for worker * Scale effect: increase in R decreases both demand for capital and labor Neoclassical economics: * Methodological indivudalism: * Rational choice: * Maximize * Answers: who is the decision maker, what goals are, what constraints * Equalibirum * Pareto efficient: cannot increase well being on one without leaving others unchanged New Insitutituional economics: explain instiutituions in way of action and goal of indivualds in them Bounded limited rationality: limited ability to calculate how their deicion affects the future but aware that it does Chapter 2: Employment: 1 week 16+, 15 hous. Un: 4 weeks Not counted: Discouraged: 12 months, Marginally attatched: not looking for one Labor costs: earnings + benefits= total comp Straight line: gross expludes overtime. Measured in dolalrs/hour CPI: biased to overstate increase in true cost of living: does not allow for substitution since its calculated with a fixed basket of goods Chapter 3: Answers to 3 questions: firm is deicion maker,...
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...Term Paper on Microeconomics Course- EMBA 505 Submitted to: Mahbub Alam Lecturer Department of Management Studies Comilla University Submitted by: Md. Masudur Rahman Id: - 120205018 What are the different types of factors of production? Factors of production mean inputs and finished goods mean output. Input decides the quantity of output i.e. output depends upon input. Input is the starting point and output is the end point of production process and such input-output relationship is called as "Production Function". All factors of production like land, labor, capital and entrepreneur are required altogether at a time to produce a commodity. In economics, production means creation or an addition of utility. Factors of production can be classified into four categories. Such as: 1. Land 2. Labour 3. Capital 4. Enterprise Factors of production refer to inputs required for conducting production. Input is the starting point of every production activity. According to Prof. Benham, "Anything that contributes towards output is a factor of production." Mere existence of anything doesn't make it a factor of production but its contribution in production process is a necessary condition. Dr. Alfred Marshall described factors of production as "Agents of Production". Cooperation among factors is essential to produce anything because production is not a job of single factor Four Factors of Production in Economics - Chart Following...
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...Chartered Institute of Personnel and Development Human capital reporting An internal perspective a guide 1 – a CIPD guide for personnel professionals to help them identify, collate, analyse and communicate data on human capital Written by Jim Matthewman and Floriane Matignon of Mercer Human Resource Consulting Acknowledgements The document draws on the perspectives, experience and measurement methods set out in the recent book by Haig R. Nalbantian, Richard A. Guzzo, Dave Kieffer and Jay Doherty, Play to Your Strengths: Managing your internal labour markets for lasting competitive advantage (New York: McGraw Hill, 2004). We are grateful to members of the CIPD Human Capital Working Party who provided input and advice: Greg Aitken, Head of Employee Research and Measurement, Royal Bank of Scotland Group Ron Collard, Partner, PricewaterhouseCoopers Andrew Mayo, Director, Mayo Learning International Tim Miller, Group Head of Human Resources, Standard Chartered Bank Tony Palmer, Head of the Marple Partnership Vicky Wright, Partner, Human Capital, Ernst & Young Human capital reporting Human capital reporting: an internal perspective 3 Human capital reprting Contents Preface 4 Introduction 6 Step 1 – Setting human capital management in context 10 Step 2 – Getting started: gathering and collating the data 21 Step 3 – Measuring human capital: tools and methodologies 27 Step 4 – Reporting the data:...
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...Advances in Developing Human Resources http://adh.sagepub.com/ National Human Resource Development: What in the World Is It? Gary N. McLean Advances in Developing Human Resources 2004 6: 269 DOI: 10.1177/1523422304266086 The online version of this article can be found at: http://adh.sagepub.com/content/6/3/269 Published by: http://www.sagepublications.com On behalf of: Academy of Human Resource Development Additional services and information for Advances in Developing Human Resources can be found at: Email Alerts: http://adh.sagepub.com/cgi/alerts Subscriptions: http://adh.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.com/journalsPermissions.nav Citations: http://adh.sagepub.com/content/6/3/269.refs.html >> Version of Record - Aug 1, 2004 What is This? Downloaded from adh.sagepub.com at Anglia Ruskin University on May 2, 2014 Issue Overview 10.1177/1523422304266086 Advances in Developing Human Resources McLean / INTRODUCTION TO NHRD National Human Resource Development: What in the World Is It? Gary N. McLean The problem and the solution. Recent exploratory research has affirmed the variations in understanding of the meaning of human resource development (HRD) from country to country based on a number of identifiable characteristics of the country. One area identified in the definitions of some countries, which was different from that found in the United States and in some other countries...
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