The Current study aimed at Sustainable Development of Human Capital from Ground level to Global. The paper highlights the role of education in the growth of economic competitiveness and efficiency of human capital, in accordance with the quality of education and investments in human resources, in order to enhance labour productiveness.
The paper draws conclusions regarding the importance of the sustainable development of human capital as the operation of a modern economy requires the existence of a well-trained labour force, education representing one of the fundamental pillars of any society’s development. According to Ranjeet Kumar (2015),”In today’s fast paced materialistic technology ridden life, an individual may feel good on the outside but has not found inner peace, Satisfaction, happiness, positivity or resilience.” Gill Seyfang & Smith (2012), obtained that Human Capital refers to the various qualitative dimensions of the human being. It plays an important role in sustainable development and the major source of economic growth in modern economies. This abstract views human welfare and well-being as both ends and means. Francisco Maldonado (2005) said that the Sustainability has been defined as an alternative to create new technologies and engineering systems that will satisfy the needs of humanity in this generation without placing at risk the ability to satisfy the needs of future generations. Collins et al.(2006) explained that Innovation and community action is
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Sustainability has become a relevant word in the vocabulary of many organizations, governments and individuals. More than just a word, sustainability relates to the ability of institutions to continue executing their functions without forgetting the effects on the environment and taking into consideration the fair treatment of their employees and the human rights of society. Although sustainability is a widely used term by many individuals, the understanding of this term is not as clear as its popularity. When discussing the ideas of sustainability, most people automatically associate the term with the human impact on the environment. Others relate sustainability to the ability to cut costs and inefficiencies within the organization. A few individuals believe that sustainability is a matter of human rights. So what exactly is sustainability?
Human capital is what makes us work, and working is what establishes are living conditions. That’s why productive countries have had increases in income, which made for increases in education and labor training. This is especially beneficial to third world countries, because as women receive more education, the more they learn about their roles in society, independence, family, and contraceptives - which, in turn, decreases the infant mortality rates. However, in order to be productive for a society’s economy, you need to possess certain skills. Skilled individuals have to work together to achieve success. Those who are talented come to the realization that their skills are more valuable in countries that already have a great amount of skilled workers. Being skilled helps trade, and not practicing trade, or being a closed off economy, has a damaging effect. An open economy will grow
“ Human capital is what makes individuals productive, and productivity is what determines our standard of living.”(Wheelan, 130). By investing in human capital, we are able to have more skilled workers who are productive and positively affect the economy because we make more contribution and therefore will get more in return.
Human capital is an important aspect of an individual's life that are affected by their education, training, and health. In order to optimize my human capital, I plan on continuing my education and pursuing a chemistry degree or taking part in a pharmacy program to be able to receive my Pharm. D. In order to accomplish this goal, I am interested in the pharmaceutical program offered by the Florida Agricultural and Mechanical University. The program that they offer would allow me to receive my pharmacy degree in six years and be guaranteed a job shortly after graduating. Another option would be to attend a school that focused primarily on pharmaceuticals such as the Massachusetts College of Pharmacy and health sciences. Throughout my schooling, I would like to shadow or intern for a professional in the field so I am able to better understand the qualities and aspects that pharmacists have to be equipped with.
the lowest levels of education have the highest rates of unemployment. So a stronger appliance of the educational system can steer society towards positive growth, centered around a successfully working unit that can produce better workers and create greater welfare. On the other hand, these workers will also create a more productive society that will eventually cause GDP per capita levels to increase, as well as economic expansion and the international status of the country in general. Education can very well create highly skilled workers, but that doesn’t eliminate the fact that the quantity of working positions
An educated workforce is also another word for Human capital. “Human capital is the economist term for the knowledge and skills that people acquire through education, training and experience” pg239. If the president of Lisavia invest money into his people
Important advantages of Resources on the Earth are limited.That the way we behave now does not make life difficult or impossible for future generations.To achieve sustainable development,we need to carefully consider the need for economic development,where standards of living improve
Education and wellbeing are fundamental targets of improvement; they are imperative closures in themselves. Wellbeing is key to prosperity, and education is crucial for the delightful and compensating life; both are central to the more immense thought of extending human limits that lie at the heart of the importance of improvement.Not one person has accomplished sustained economic improvement without generous interest in human capital. The aspect and importance of human capital in moving the tread of economic growth can't be embellish. The advancement of human capital has been perceived by financial analysts to be a key necessity for a nation's financial and political change.
The concept of ‘sustainable development’ is one that has faced heated debates for decades now. A seemingly harmless concept, it raises a lot of questions as to what it really entails and how exactly it can be achieved. But with more than 1.3 billion people living in abject poverty (less than $1.25 a day), and with a reported 22,000 children dying every day as a result of poverty (UNICEF), the debate for Sustainable Development becomes interesting as it questions the extremity of economic growth policies, in the war against poverty. Many note economic growth and development as the only tool for poverty alleviation. Roemer and Gugerty, for example, report that GDP growth of 10% per year is associated with income growth of 10% for the poorest 40% of the population. However, others question the extent to which economic growth should be put above other socio-economic factors. Lele points out that the focus on economic growth has led to important ecological and social sustainability, taking the backseat. He argues that due to strong emphasis on economic growth, not enough attention is paid to social equity, and economic stability within the development discourse.
Human capital plays a considerable role in the economic environments. It is not cash, assets, but it is people, which are the critical differentiators of a business enterprise (Fiz-enz, 2000). It is an organisation’s possess individual tacit knowledge (Nelson and Winter, 1982). There are four factors involved by human capital: genetic inheritance, education, experience and attitudes about life and business (Hudson, 1993). All of these factors are intangible and can be invaluable. Human Capital is a source of innovation and strategic renewal, such as improving personal skills, re-engineering new process or just daydreaming at the office (Hudson, 1993). According to Figure 1 (Bontis, 1998), Human Capital is about the intellect of human. It is an internal control and development
To giving a definition for social sustainability, Oxford Institute for sustainable development claim that social sustainability is to taking care of individual, societies and communities live together as a whole and start to achieve the ideal developments for themselves, and also look into the relationship between the particular territory of themselves and the planet. In Practical way, Social Sustainability start arises by taking action to extend the social aspect of individuals and societies, which include capacity and skill developments to environmental and spatial inequalities. Which also include the traditional social policy aspects and principles, for instances, the equity of human rights and health, as well as human needs, social capital, economy, living environment, the consideration of happiness, wellbeing and the quality of life.
Education plays an important role with each country, especially with the economic development, which is the same in Vietnam. After two wars of aggression, the Vietnamese economy was affected seriously so the Provisional Government of Vietnam identified that at this time, the development of education is the first priority. In a country, if the rate of educated person is high, it means the indicators of economic development will also go up. The high quality workforce who is better skilled and trained in an accurate education will be a motivation for future growth. According the statistic data of
Sustainability development has three components: environment, society, and economy. If you consider the three to be overlapping circles of the same size, the area of overlap in the center is human well-being. As the environment, society, and economy become more aligned, the area of overlap increases, and so does human well-being. Therefore, education for sustainable development (ESD) is the use of education as a tool to achieve sustainability. Simply put, ESD is a way to make the world a safer, healthier, and more livable place for us and future generations (McKeown, 2002, pgs 7-9).
The questions are raised as what and how the wealth is distributed or allocated among societies. Countries with similar average incomes can differ substantially when it comes to people’s quality of life such as social justice, access to education and health care, job opportunities, availability of clean air and safe drinking water, the threat of crime, freedom of speech, life expectancy, birth-death control, identity, culture, conservation, equal opportunities, environmental change. Development is important as it covers a wide range process involving cultural, economic, environmental, political, social and technological change of a country. Regarding goals and means of development, recent United Nations documents emphasize on human development measured by life expectancy, adult literacy, access to all three levels of education as well as people‘s average income which is a necessary condition of their freedom of choice. In other words, human development incorporates all aspects of individuals’ well -being from their health status to their economic and political freedom. The Human Development Report 1996 of UNDP focuses on development as the end and economic growth a
Urbanization, which is becoming a buzzword during the last few decades, is enlarging at a booming speed. It is predicted that 93 percents urban growth will occur to the year 2020, in the developing world (Elliot J.A, 1999). Generally speaking, more than half of the people around the world have been moved to cities, which led to a series of “matters” connected with people’s life that changed in a dramatical way. In this period, sustainable development, another buzzword during the past few years, came into people’s view and gradually became the mainstream of society development. Its definition is to make the development continue in a long term, which means allowing appropriate economic growth and industrialization without