Reflective Journal on the Developing Human Capital Essay Example

  • Category:
    Management
  • Document type:
    Essay
  • Level:
    Masters
  • Page:
    1
  • Words:
    395

I find this week’s topic on Human Resource Development in a Deregulated Environment of interest because of the insights it brings regarding the area of human capital. To start with it tells us that occupational skills have over the past been the focus of the Australia training and development. From the topic we are told that there were no coherent national policies that existed until in the 1980s but with the continued deregulation of the Australia labor market the notion of enterprise, industry and national level development and training became a complex area.

The stripping away of state protection to reveal the poorly trained in the 1970s led to the great need for putting up a strategic approach in the 1980s. There is general consensus that was reached which has great application in any working environment which is that it is of important to have a well-trained and a multi-skilled workforce which will be able to see any working team to great heights of economic survival. This can be supported by the fact that people are an important organizational asset if any organization wants to have a competitive advantage in the knowledge based society. It is important that the government gets involved in resolving the issues of training provisions with important policy issues for Australia to foster growth in the area in the 21st century.

Besides having learnt that on that issue, the topic of Managing Knowledge Workers; Exploring the New Dynamics of Work Organization was another interesting subject. With the dynamics of the economic environment in the 21st century the role of intangible assets has had a growing recognition mostly for knowledge as the source of competitive advantage. Organizations are to the realization that their competitiveness highly depends on their effectiveness in managing knowledge capital flows which have overtime proved to be difficult and unique to be imitated by competitors; thus the need to developing and retaining key employees.

With the knowledge economy base that we live in, the connection between HRD and knowledge management is significant. Learning this will help in the future in increasing the awareness that HRM and HD are not merely put in place to support activities but that they are central to the role of creating competitive advantage as well as value creation.

Reference

H. De Cieri, P. Holland. (2006). Contemporary issues in human resource development. Sydney: Pearson Education.