Human capital functioning in strategic management of the national economy

Maryna Radieva and Viktoriia Kolomiiets
Additional contact information
Maryna Radieva: Classic Private University 70B Zhukovskogo str., Zaporozhye, Ukraine, 69002
Viktoriia Kolomiiets: National University of Railway Transport named after academician V. Lazaryan 2 Lazaryana str., Dnipro, Ukraine, 49010

TECHNOLOGY TRANSFER: INNOVATIVE SOLUTIONS IN SOCIAL SCIENCES AND HUMANITIES

Abstract:

The choice of the research subject is determined by the important and ambiguous role of human that is at the same time an object of getting goods and a factor of providing them in global and national economies. Human with its multilevel needs and priorities is an initial object of national economy efforts.World development tendencies of the new economy need using new development mechanisms of the human capital at decreasing transactional costs. The aim of the article is to analyze functioning components of the human capital in the strategic management of the national economy and to substantiate development instruments of the human capital at developing a management strategy in economy.A methodological base of the research work is fundamental positions of a theory of social economy, human development, economic growth, social-labor relations.The study offers the author definition of the notion “human capital” as an accumulated potential of citizens, expressed in their education, life experience, attitude, skills that may be used for improving current and future economic and social prosperity.A research result is the theoretical substantiation of the development of human capital, considered as a function of the strategic management of human resources, integrated with developing a management strategy of the national economy and each economic unit. Such development provides the growth of a market value of the human capital and results in quantity and quality changes in the activity of organizations. At the same time the increase of transactional costs takes place. The scientific understanding of using diverse instruments of the human capital development as an element of the general management strategy is developed in the research. There is used the three-level development system of the human capital, each level of which is characterized by specific problems and unequal readiness of human capital owners to participate in realization of tasks of an organization and correspondingly needs using different methods and instruments.The further research direction provides ordering and systematization of human capital functions in the management strategy of the national economy for determining human capital development mechanisms.

Keywords: human capital; strategic management; national economy; knowledge economy; career. (search for similar items in EconPapers)
Date: 2019-06-25
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