Abstract
We investigated the probabilities of acquisition of requisite human capital by new entrants in the institutional network. Graph theories applied in complex social networks using multi-attribute decision models were employed for our study. We coupled the dynamical and complexities of social network analysis with BASS-SIR epidemiological model to ascertain sustainability in the light of internal and external forces in the human capital acquisition. The results show that a new entrant’s ability to acquire human capital within the network increases rapidly and reaches a steady state by the third month. The fractional analysis indicated that a combined effect of internal and external injection of knowledge into the network sees entrants acquiring the required knowledge and work world skills in a relatively shorter time. Finally, the discrete and continuous analyses revealed that relatively even and continuous patterns of information flow reduce the time of reaching a steady state in the industry. We recommend a strong policy on continuous and even rates of training, a high rate of information flow such as internal and external training with the emphasis on internal training systems to gain competitive advantage.
Highlights
Studies in strategic management have had a long history of adapting the resource-based view (RBV) of the firm to explain differential firm performance.[1]
Reverting to our initial argument, if we consider that no external factors are driving the interns to acquire the requisite human capital index necessary for employment in an institution, such that only intrinsic conditions serve as a driving force for human capital index acquisition, that is, p 1⁄4 0 equation (4) can be considered as a continuous version of an SIR model explaining probabilities of human capital acquisition characterized by internal drives as
The organizational human resource practices concerning training and development and policies in relation to networking for competitive advantage are critical to enhance and provide a high and constant rate of information, knowledge, and skill flow to new entrants which increases their probability of retention within the organization by retaining the required human capital for organizational growth and sustainability
Summary
Studies in strategic management have had a long history of adapting the resource-based view (RBV) of the firm to explain differential firm performance.[1]. We argue that the magnitude of internal influences increases linearly with the number of ij of contagious actors connected to j and normalized by ej such that irrespective of the structure of an employing institutions network, the maximal internal influence that author j can experience when all his/her connections are with management members in the network is q: For our analogy to hold, we do not hold that author j still exhibits the required human capital (knowledge and skill set) post the probation period In actuality, this assumption helps because not all employees on probation get retained as employees. In the absence of employee attrition, and regarding to equation (3), and by applying reduction, equation (4) reverts to original BASS23 which when solved provides f BASSðtÞ 1⁄4
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