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Importance of identifying and analyzing business development needs for economic survival and sustainable development through human capital

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  • Joe Duke II

    (Department of Business Management, University of Calabar, Nigeria)

Abstract

A business firm’s ability to effectively take advantage of new business opportunities depends to a large extent on the quality of its human capital. For a firm to improve or increase its stock of human capital, it needs to continue to develop its human resources. This paper demonstrates theoretically that there is a strong connection between firms’ ability to identify and analyze business development needs, using their stock of human capital, and the achievement of economic survival and sustainable development of a nation. The paper makes a case for sufficient emphasis on the funding of the drivers of human capital development – education and health - if developing nations, like Nigeria, should transit into world class economies in the near future.

Suggested Citation

  • Joe Duke II, 2011. "Importance of identifying and analyzing business development needs for economic survival and sustainable development through human capital," E3 Journal of Business Management and Economics., E3 Journals, vol. 2(4), pages 147-155.
    • Handle: RePEc:etr:series:v:2:y:2011:i:4:p:147-155
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    References listed on IDEAS

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    1. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808.
    2. Schultz, Theodore W, 1975. "The Value of the Ability to Deal with Disequilibria," Journal of Economic Literature, American Economic Association, vol. 13(3), pages 827-846, September.
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