Basic Approaches to The Study of Human Resources: Essential-Descriptive Analysis

In the new industrial and digital economy, human capital has become the most critical element of economic growth and innovation. The progress of enterprises and their national economies relies heavily on its effective use and development! Various models for measurement and management of human resources have been presented (Kaplan and Norton; Fitzens; Armstrong). Nevertheless, the majority of models not considered education quality and innovation potential in the human capital system. While theoretical discourse has attempted to tackle the critical role of human capital in education–innovation interaction as two major drivers of economic growth, it remains largely unexplored whether or not the developing economy's human capital assessment reflects education and innovation as its central components–especially in the era of transformational digital phenomena. The purpose of this study is to examine theoretical and practical aspects of human capital management, to analyze the main indicators of the use of human capital and to present own concept of the model of human capital of a country, the involvement of which offers an extended model based on the inclusion of dimensions of science and education quality. An apt expression of the analysis is identification of five main evaluation dimension financial, customer, innovation, internal environment, and education quality and its categorical indicators level of adaptability and level of innovation capacity (Green, Yellow and Red). The proposed model adjusts Kaplan and Norton balanced scorecard by introducing a fifth dimension related to science and education, and calces the correlation between innovation capability and economic efficiency. Such findings lead to greater conceptual underpinnings for companies to rethink their human capital management strategies as a function of the digital and innovative economy that shapes the world today, where investment in education, lifelong learning and intellectual development leads to sustainable competitiveness.