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In his 1964 book Human capital theories Becker introduced the economic concept of human capital. This book is now a classic in economy research and Becker went on to become a defining proponent of the Chicago school of economics. The book was republished in 1975 and 1993. Becker considered labor economics to be part of capital theory.
Human capital is the value that the employees of a business provide through the application of skills, know-how and expertise. [43] It is an organization's combined human capability for solving business problems. Human capital is inherent in people and cannot be owned by an organization.
Human Capital Theory states that the knowledge, experience and skills of employees are developed through processes of advanced education, training and development and job changes (Tharenou, 1997). Human capital acquisition through learning and job satisfaction increases the ability of a workforce to perform effectively (Michael et al., 2000 ...
Follett believed that leadership, while a constant part of the business relationship, was more fluid. Leadership, Follett posited, was not always tied to a role but often to the person with the most knowledge or experience in the area. [8] Follett contributed greatly to the win-win philosophy, coining the term in her work with groups. Her ...
Substitutes for leadership theory is a leadership theory first developed by Steven Kerr and John M. Jermier and published in Organizational Behavior and Human Performance in December 1978. [ 1 ] The theory states that different situational factors can enhance, neutralize, or substitute for leader behaviors [ 2 ] (Den Hartog & Koopman, 2001).
A third set, referred to as the "neoclassical revival", expanded the definition of capital in exogenous growth theory to include human capital. [179] This strain of research began with Mankiw, Romer, and Weil (1992), [ac] which showed that 78% of the cross-country variance in growth could be explained by a Solow model augmented with human ...
His 1960 book The Human Side of Enterprise focused on theory X and theory Y approaches to leadership. His 1967 book The Professional Manager [ 15 ] built upon the ideas presented in his first book, along with providing behavioral, social, and psychological aspects implications of the previous ideas.
Chris Argyris (July 16, 1923 – November 16, 2013 [1]) was an American business theorist and professor at Yale School of Management and Harvard Business School.Argyris, like Richard Beckhard, Edgar Schein and Warren Bennis, [citation needed] is known as a co-founder of organization development, and known for seminal work on learning organizations.