Abstract
The objective of this study was to investigate the role of human capital in the competitive platform of South African industries and to determine the ability of their human capital to address the challenges of modern technology and globalisation. Attention is given to the competitive strengths and investment opportunities, including the quality and availability of human resources, labour cost, level of education and skills, vocational and industry related training facility, work ethics, productivity, workplace regulations, as well as efficiency of the civil service; including productivity and competitiveness indexes. The study found that the level of human capital in South African industries is much higher than the general perception and not the worst element of South Africa’s competitive platform. The findings also indicated challenges, like absentees due to AIDS and other factors, a shortage of artisans and proficiency towards modern technology and innovation, which limits competitiveness.
Highlights
The role of human capital in the competitive platform of South African manufacturing industries is investigated in this paper
Aim of the study The objective of this study was to investigate the role of human capital in the competitive platform of South African industries and to determine the ability of their human capital to address the challenges of modern technology and globalisation
Attention was given to a survey conducted among South African manufacturing industries
Summary
The role of human capital in the competitive platform of South African manufacturing industries is investigated in this paper. International competition is intensif ying following international trade agreements, like GATT, and the effect of modern technology and globalisation, while tariffs and trade restrictions are declining This exposes companies to international price and cost structures, which can replace local sales and with it local employment that manufacture those commodities. Human resources are an important factor of production and have a direct impact on the competitiveness of firms Human capital is those elements in humans that enhance the quality of labour, such as skills, knowledge and wisdom, which make it worth more in the production process. A firm can conquer a growing share of market demand by selling more goods and services This will be possible when the firm can supply at lower prices or better quality, reliable supply, low risk, providing a superior total sales package and a better image. In all of these aspects human capital has a role to play
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