International Conference Organized by FMS, Delhi
"Human Capital Formation in the 21st Century: Is a New Paradigm Needed?"
December 1-4, 2005
University of Delhi Auditorium, Delhi

Objectives

The recent economic reforms and their continuation has underlined the need for Indian organizations to enhance their competitive position. It is now widely recognized that organizational competitiveness may be enhanced or developed based on an effective human capital management and its implementation.

In the Indian context, human capital is a factor that is in excess supply and to harness such capital effectively may be a route by which the global presence of Indian companies may be enhanced. The mobility of human capital is another important aspect that needs to be addressed.

This conference is being held to provide a basic understanding of strategic importance of human capital and how to enhance the competitiveness of an organization. The aim of this conference is to encourage the review and critique of the extant theory and current human capital management practices. Such a review is expected to culminate in the articulation of alternative theoretical representations that will allow for new conceptualisations in the field, taking into account the realities of the emergent knowledge-based economy and globalisation. Explicit concerns with the issues relating to the emergent knowledge-based economy and cross border mobility of human capital in the academic theorization of human capital formation and management will be raised in the course of the conference.

The Perspectives

In recent decades, many management sub-disciplines have subjected their theoretical foundations and methodological preferences to substantive critique, reflection, and many a times transformation. Human Capital theory in particular, is no longer rooted in the traditional functionalist epistemology and positivist methodologies of mainstream organizational science. A rich body of literature has emerged over the recent decades, critiquing previous theory and setting new directions.

Simply stated, Human Capital means people. There are, however, two key principles that are central to the human capital idea. First, people are assets whose value can be enhanced through investment. As with any investment, the goal is to maximize value while managing risk. As the value of people increases, so does the performance capacity of the organization, and therefore, its value to its clients and other stakeholders. Second, an organization's human capital policies must be aligned to support its ‘shared vision'- that is, the mission, vision for the future, core values, goals and objectives, and strategies by which the organization has defined its direction and its expectations for itself and its people.

Next