engleski

The consequences of the failure to recognize the value of human capital in the media: The case of local media house

It is consider to be a conventional wisdom in the business and academic community that the true value of an organization in the contemporary economy are people as human capital. Namely, in a corporate world physical assests is no longer consider the most important input in the production of goods and services, but it is a combination of material and nonmaterial resources.Th is is supported by numerous theoretical and empirical research results represented in the management literature which discusses in variaty of ways diff erent positive relationships between human resources (also human potential and human capital) and their pivotal role in the companies’ success. Th e purpose of this paper is to make a brief theoretical discussion on the importance of people as valuable resource for modern business enterprise while the empirical part of the paper shows that some organization still have employment practices that contradicts the conventional wisdom when it comes to managing human resources. Th e empirical basis of the paper is based on the case of the local news media house and its failure to recognize the human capital value for its organization which is quite contradictory taking into consideration that 814 Ivana Barković Bojanić • Nefreteta Zekić Eberhard: THE CONSEQUENCES OF THE FAILURE TO RECOGNIZE THE VALUE OF HUMAN CAPITAL ... they are based on journalists as the most imortant factor in the production of their „goods and services“ – news and newspapars.

human capital ; human resource management ; Maslow’s hierarchy theory

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