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

  • Joe Duke II

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

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    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.

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    Article provided by E3 Journals in its journal E3 Journal of Business Management and Economics..

    Volume (Year): 2 (2011)
    Issue (Month): 4 ()
    Pages: 147-155

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    Handle: RePEc:etr:series:v:2:y:2011:i:4:p:147-155
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    1. Schultz, Theodore W, 1975. "The Value of the Ability to Deal with Disequilibria," Journal of Economic Literature, American Economic Association, vol. 13(3), pages 827-46, September.
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