EDUCATION AND INVESTMENTS IN HUMAN CAPITAL IN B&H. ENTERPRISES

Year 2011, Volume: 6 Issue: 2, 28 - 37, 01.12.2011

Sanvila Vuk

Abstract

The main characteristics of postindustrial era (new economy, knowledge economy) are rapid changes
of political, economic, technological and social environment which are reflected in different market demands,
way of doing business and competition. Knowledge as an organizational recourse is recognized by many
companies as a source of competition in new conditions of constant changes. Developed market economies
enterprises undertake huge programs of education and their employees development in order to meet market
demands and to adapt unpredictable changes in contemporary turbulent environment becoming the biggest
education institutions today. The fact that European Commission developed the long life learning program
striving to make whole Europe area space of learning, confirm the importance of education today. Formal
education in school and university is not enough to provide employee with knowledge to be capable for new
more complex tasks in future. Long life learning is attempt of western economies to meet new market demands
based on radical changes which lead economy from industry to services, to knowledge based economy. That is
the reason why the continual learning is an imperative not only for the company but for the individuals too. The
aim of this paper is to analyze the importance of learning and investments in education in bh. enterprises as well
as try to find out how bh. enterprises recognize the role of knowledge and employees education in achieving of
competitive advantage today. 

Keywords

continual learning, employees education, investments in education of employees JEL: O15

EDUCATION AND INVESTMENTS IN HUMAN CAPITAL IN B&H. ENTERPRISES

Abstract

 The main characteristics of postindustrial era (new economy, knowledge economy) are rapid changes
of political, economic, technological and social environment which are reflected in different market demands,
way of doing business and competition. Knowledge as an organizational recourse is recognized by many
companies as a source of competition in new conditions of constant changes. Developed market economies
enterprises undertake huge programs of education and their employees development in order to meet market
demands and to adapt unpredictable changes in contemporary turbulent environment becoming the biggest
education institutions today. The fact that European Commission developed the long life learning program
striving to make whole Europe area space of learning, confirm the importance of education today. Formal
education in school and university is not enough to provide employee with knowledge to be capable for new
more complex tasks in future. Long life learning is attempt of western economies to meet new market demands
based on radical changes which lead economy from industry to services, to knowledge based economy. That is
the reason why the continual learning is an imperative not only for the company but for the individuals too. The
aim of this paper is to analyze the importance of learning and investments in education in bh. enterprises as well
as try to find out how bh. enterprises recognize the role of knowledge and employees education in achieving of
competitive advantage today.  

Keywords

investments in education of employees JEL: O15

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