Human Capital in Business

Abstract

Employees are rated as the most valuable asset of an organization. Therefore, the care, development, and maintenance of strong staff motivation are essential to achieve the core business goals. In the early 90s human capital had completely different value in the post-socialist countries. Unlike East Germany, in Bulgaria private property and entrepreneurship did not exist during the Soviet period. The education of an entrepreneurship spirit in free people had to start from scratch. The first part of the chapter examines the most important theoretical contributions and basis of the human capital and human capital resource theories. The second part is dedicated to the practical implications of these concepts in a newborn Bulgarian company which has a vision to transform the society it operates in. In addition, the chapter analyzes how these concepts reflect on a broader business audience, thus becoming a role model for multiplication of other companies from the responsible business circle in Bulgaria.