Human capital in knowledge creation, management and utilization

Growing competitiveness, joined with the frequently occurring technological changes in the global age, raise the importance of human capital in the organization, as well as the development and sharing of knowledge resources, which lead to obtaining a competitive advantage. Perez (2003) presents the human capital as one of the most complex resources for gaining control over organizations. This belief has led managers in the past to base their competitive advantage in the markets and in recruiting resources, on productrelated capitals, work processes, or technology. The human capital of employees has a high financial value and is accumulated via learning processes, which take a central role in the survival and growth of the organization. Since the 1980s, strategic managers and industrialists have identified organizational learning as the basis for obtaining a competitive advantage in the local and international markets (DeGeus, 1988). The identification and management of the knowledge resource owned by the human capital is quite difficult, since the knowledge is not perceptible and therefore influences the ability to plan activities relating to the use and sharing of knowledge (Davenport, 2001).