The Importance of Investments in Human Capital in the Process of Innovation in Production

DOI

10.2991/aebmr.k.200324.002How to use a DOI?

Keywords

globalization, diffusion of innovation, investments, hybrid technical systems, development of production, human fund, efficiency

Abstract

Modern researches of dynamic processes in the sphere of economy show that in the conditions of globalization noticeable acceleration of diffusion of innovation is observed. This is due to the fact that ensuring the economic sustainability of organizations is largely associated with the effective introduction of innovations in technological processes. However, at the stage of recovery from the economic crisis, enterprises are experiencing significant financial difficulties. Because of this, attempts are made to local inclusion of new technology in existing technical systems. This saves financial resources, but also creates great difficulties in the operation of such hybrid systems. The purpose of the study is to find optimal solutions for the development of investment programs for the modernization of production and the achievement of effective parameters for the operation of hybrid technical systems, including traditional and innovative types of equipment. In the course of the study, simulation modeling with the use of economic and mathematical methods was used, allowing to reach the methodology of optimizing the ratio of investments in the development of a hybrid production system and human capital of the organization’s personnel. Practice has shown that the increase in investment in the development of human capital of the organization’s personnel can significantly reduce the overall cost of operation of the technical system and improve its performance.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Fedor Mikhailov
AU  - Dmitrii Miasnikov
PY  - 2020
DA  - 2020/03/30
TI  - The Importance of Investments in Human Capital in the Process of Innovation in Production
BT  - Proceedings of the “New Silk Road: Business Cooperation and Prospective of Economic Development” (NSRBCPED 2019)
PB  - Atlantis Press
SP  - 6
EP  - 9
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200324.002
DO  - 10.2991/aebmr.k.200324.002
ID  - Mikhailov2020
ER  -