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Innovative Approach to Improving the Human Capital Management System in Small Businesses
American Journal of Economics and Business Management,
Vol. 7 No. 12 (2024): December
Abstract
This paper explores best practices for enhancing human capital management (HCM) in small firms. It outlines key investment streams that provide a structured approach for assessing the market value of human capital within local enterprises. Additionally, a framework for the development, retention, and effective deployment of human capital is proposed to improve the competitiveness of small businesses. To enhance financial performance, organisations are encouraged to implement innovation and investment-based human capital management practises, recognising that employees are valuable human capital resources.
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- Dobija, M. (1998). How to place human resources into the balance sheet? Journal of Human Resource Costing & Accounting, 3(1), 83-92.
- Avilkina, M. A. (2009). Innovatsiya v svete teorii chelovecheskogo kapitala. Vestnik Polotskogo gosudarstvennogo universiteta. Seriya D. Ekonomicheskie i yuridicheskie nauki, 4, 82-87.
- Akulov, A. V. (2006). Osobennosti razvitiya i ekonomicheskaya effektivnost' investitsiy v intellektual'nyy kapital. Vestnik Mogilevskogo gosudarstvennogo universiteta, 1(23), 66-69.
- Anikina, Zh. P. (2008). Vosproizvodstvo chelovecheskogo kapitala kak faktor ekonomicheskogo rosta. Vestnik Belorusskogo gosudarstvennogo universiteta. Seriya 3: Istoriya. Filosofiya. Psikhologiya. Politologiya. Sotsiologiya. Ekonomika. Pravo, 1, 67-70.
- Bilevich, A. V. (2006). Znanie kak faktor rosta natsional'nogo bogatstva strany. Vestnik Belorusskogo gosudarstvennogo universiteta. Seriya 3: Istoriya. Filosofiya. Psikhologiya. Politologiya. Sotsiologiya. Ekonomika. Pravo, 2, 108-114.
- Bogatyreva, V. V. (2007). Chelovecheskiy kapital kak znachimaya chast' aktivov organizatsii. Vestnik Polotskogo gosudarstvennogo universiteta. Seriya D. Ekonomicheskie i yuridicheskie nauki, 4, 2-9.
- Bondar', A. V. (2005). Mirovoy rynok truda v usloviyakh globalizatsii i osobennosti razvitiya ego belorusskogo segmenta. Minsk: BGEU.
- Vereshchagina, A. L. (2005). Rol' chelovecheskogo kapitala v formirovanii dokhodov naseleniya Respubliki Belarus'. Belorusskiy ekonomicheskiy zhurnal, 3, 101-105.
- Gleba, T. I. (2003). Vosproizvodstvo kapitala Respubliki Belarus' (Unpublished doctoral dissertation). Belorusskiy gosudarstvennyy universitet, Minsk.
- Koshul'ko, O. P. (2008). Usovershenstvovanie sistemy upravleniya chelovecheskim kapitalom na predpriyatiyakh putyom vnedreniya sovremennykh organizatsionno-ekonomicheskikh mekhanizmov. Ekonomika. Finansy. Pravo, 10, 7-11.
- Zhuravleva, I. V., & Kudlay, A. V. (2004). Upravlenie chelovecheskim kapitalom predpriyatiya. Kharkov: KhNEU.
- Mikhaylova, L. (2003). Chelovecheskiy kapital v sisteme sotsial'no-ekonomicheskikh kategoriy. Sbornik trudov Cherkasskogo gosudarstvennogo tekhnologicheskogo universiteta. Seriya Ekonomicheskie nauki, 8, 283-287.
- Bessieux-Ollier, C., et al. (2022). Rejuvenating human resource accounting research: A review using bibliometric analysis. Journal of Management & Governance.
- Springer Link
- Flayyih, H. H., et al. (2022). Intellectual Capital History and Trends: A Bibliometric Analysis Using Scopus Database. Sustainability, 14(18), 11615.
- MDPI
- Bontis, N. (1998). Intellectual capital: an exploratory study that develops measures and models. Management Decision, 36(2), 63-76.
- Edvinsson, L., & Malone, M. S. (1997). Intellectual Capital: Realizing Your Company's True Value by Finding its Hidden Brainpower. HarperBusiness.
- Stewart, T. A. (1997). Intellectual Capital: The New Wealth of Organizations. Currency/Doubleday.
- Brooking, A. (1997). Intellectual Capital: Core Asset for the Third Millennium Enterprise. International Thomson Business Press.
- Sveiby, K. E. (1997). The New Organizational Wealth: Managing & Measuring Knowledge-Based Assets. Berrett-Koehler Publishers.
- Roos, G., & Roos, J. (1997). Measuring your company's intellectual performance. Long Range Planning, 30(3), 413-426.
- Kaplan, R. S., & Norton, D. P. (1992). The balanced scorecard—measures that drive performance. Harvard Business Review, 70(1), 71-79.
- Lev, B. (2001). Intangibles: Management, Measurement, and Reporting. Brookings Institution Press.
- Marr, B. (2005). *Perspectives on Intellectual Capital: Mult
References
Dobija, M. (1998). How to place human resources into the balance sheet? Journal of Human Resource Costing & Accounting, 3(1), 83-92.
Avilkina, M. A. (2009). Innovatsiya v svete teorii chelovecheskogo kapitala. Vestnik Polotskogo gosudarstvennogo universiteta. Seriya D. Ekonomicheskie i yuridicheskie nauki, 4, 82-87.
Akulov, A. V. (2006). Osobennosti razvitiya i ekonomicheskaya effektivnost' investitsiy v intellektual'nyy kapital. Vestnik Mogilevskogo gosudarstvennogo universiteta, 1(23), 66-69.
Anikina, Zh. P. (2008). Vosproizvodstvo chelovecheskogo kapitala kak faktor ekonomicheskogo rosta. Vestnik Belorusskogo gosudarstvennogo universiteta. Seriya 3: Istoriya. Filosofiya. Psikhologiya. Politologiya. Sotsiologiya. Ekonomika. Pravo, 1, 67-70.
Bilevich, A. V. (2006). Znanie kak faktor rosta natsional'nogo bogatstva strany. Vestnik Belorusskogo gosudarstvennogo universiteta. Seriya 3: Istoriya. Filosofiya. Psikhologiya. Politologiya. Sotsiologiya. Ekonomika. Pravo, 2, 108-114.
Bogatyreva, V. V. (2007). Chelovecheskiy kapital kak znachimaya chast' aktivov organizatsii. Vestnik Polotskogo gosudarstvennogo universiteta. Seriya D. Ekonomicheskie i yuridicheskie nauki, 4, 2-9.
Bondar', A. V. (2005). Mirovoy rynok truda v usloviyakh globalizatsii i osobennosti razvitiya ego belorusskogo segmenta. Minsk: BGEU.
Vereshchagina, A. L. (2005). Rol' chelovecheskogo kapitala v formirovanii dokhodov naseleniya Respubliki Belarus'. Belorusskiy ekonomicheskiy zhurnal, 3, 101-105.
Gleba, T. I. (2003). Vosproizvodstvo kapitala Respubliki Belarus' (Unpublished doctoral dissertation). Belorusskiy gosudarstvennyy universitet, Minsk.
Koshul'ko, O. P. (2008). Usovershenstvovanie sistemy upravleniya chelovecheskim kapitalom na predpriyatiyakh putyom vnedreniya sovremennykh organizatsionno-ekonomicheskikh mekhanizmov. Ekonomika. Finansy. Pravo, 10, 7-11.
Zhuravleva, I. V., & Kudlay, A. V. (2004). Upravlenie chelovecheskim kapitalom predpriyatiya. Kharkov: KhNEU.
Mikhaylova, L. (2003). Chelovecheskiy kapital v sisteme sotsial'no-ekonomicheskikh kategoriy. Sbornik trudov Cherkasskogo gosudarstvennogo tekhnologicheskogo universiteta. Seriya Ekonomicheskie nauki, 8, 283-287.
Bessieux-Ollier, C., et al. (2022). Rejuvenating human resource accounting research: A review using bibliometric analysis. Journal of Management & Governance.
Springer Link
Flayyih, H. H., et al. (2022). Intellectual Capital History and Trends: A Bibliometric Analysis Using Scopus Database. Sustainability, 14(18), 11615.
MDPI
Bontis, N. (1998). Intellectual capital: an exploratory study that develops measures and models. Management Decision, 36(2), 63-76.
Edvinsson, L., & Malone, M. S. (1997). Intellectual Capital: Realizing Your Company's True Value by Finding its Hidden Brainpower. HarperBusiness.
Stewart, T. A. (1997). Intellectual Capital: The New Wealth of Organizations. Currency/Doubleday.
Brooking, A. (1997). Intellectual Capital: Core Asset for the Third Millennium Enterprise. International Thomson Business Press.
Sveiby, K. E. (1997). The New Organizational Wealth: Managing & Measuring Knowledge-Based Assets. Berrett-Koehler Publishers.
Roos, G., & Roos, J. (1997). Measuring your company's intellectual performance. Long Range Planning, 30(3), 413-426.
Kaplan, R. S., & Norton, D. P. (1992). The balanced scorecard—measures that drive performance. Harvard Business Review, 70(1), 71-79.
Lev, B. (2001). Intangibles: Management, Measurement, and Reporting. Brookings Institution Press.
Marr, B. (2005). *Perspectives on Intellectual Capital: Mult