Role of human capital in development of knowledge-based economy Cover Image

Ролята на човешкия капитал в изграждане на икономика, основана на знанието
Role of human capital in development of knowledge-based economy

Author(s): Nikolay Ninov
Subject(s): Social Sciences, Economy, National Economy, Business Economy / Management, Human Resources in Economy
Published by: Сдружение „Академия за иновации и устойчивост“
Keywords: management; human capital; knowledge-based economy
Summary/Abstract: In times of dynamic changes and comprehensive transformation of the social environment and subjects of management several problems inevitably arise in which undoubtedly a key one shines behind - that of the crisis in management. The essence of the latter is related to the partial or complete absence of organizational experience operating in fundamentally new conditions, lack of understanding of the dynamic processes influencing decision making, irrational behavior for template transfer and application of foreign experience, aptitude to compromise, use of "morally" outdated management approaches built in traditional forms of organization, management style and ways of behavior and thinking that remain unchanged regardless of the highly dynamical business environment.Therefore, the requirements to the organization's staff are constantly increasing, which requires a reassessment of the considered as constant management models and adoption of conceptually new organizational solutions in this area. The paper discusses the role of the human capital in knowledge-based economy providing conclusions and recommendation on the importance of its development. The creation of human capital having “new skills for new jobs"”is possible if higher education, research centers and companies pool their efforts to build the managers of the future and ensure the competitiveness of the knowledge triangle “education - science – innovation”.