Question

Q: “The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community is called human capital”. To what extent you agree that knowledge is produced.

Note: answers should be in Details and in your own Words - the answers should be typed in a word version

Answer 1

Ans) The collective human skills is the ability to work with, understand and motivate one self and other to achieve the predefined economic goals. The knowledge includes both conceptual as well technical skill.

The conceptual skills means the mental ability to analyse and diagnose complex situations and technical skills includes mental ability to analyse and diagnose complex situations.and the other intangible assets includes intellectual abilities which includes which includes thinking ,reasoning and problem solving .These capabilities can be utilised to generate the economic value to individuals, their employers and for their community only if they are channelised in proper manner to towards the constructive way.Knowledge can be produced as a result of learning which is a relatively permanent change in behaviour that occurs as a result of experience hence if a child is taught not to fight with his friends and after that he does not fight than learning is said to occur.Knowledge can be produced through the following modes of learning they are reinforcing a behaviour that results in awards or a punishment secondly passive learning process where an individual responds as a result of ordinary course of action for example if the boss visit is coming the windows and desk were made clean and this became a regular practice even if boss does not come cleanliness is à trait developed among employees.Hence human capital is the most important resources as because of this only the development of a country depend ,it is the human resource which utilised the physical resource of a country and obtained economic wealth.There are work done to produce knowledge both skilled and unskilled in various countries and lead to the establishment of human resource development as a discipline which focusses mainly on the developmental side of the human capital of a country and a company also.The production of knowledge is a scientific concept in which sort skills as well technical skills can be imparted through the scientific trainning programmes .The US work force is the most advanced compared to African work force this is because of advanced knowledge production in US than African republic nations.