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Managing Brains

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  • Horst Albach

    (Humboldt University, Berlin)

Abstract

Classical economic theory distinguished between two factors of production: capital and labour. Alfred Marshall added a third factor: management. Gary Becker, in distinguishing between unskilled and specialized labour, emphasized the importance of investment in special human capital. Dieter Sadowski showed that investment in general human capital increases the ability to move but reduces the willingness of the employee to move. In the 'New Economy' the willingness of the employees to move has increased significantly. On the other hand, the firms have become interested in flexibility: Project management requires combining different skills in individual projects and assigning different individuals to ever-changing projects. These individuals may be found inside or outside the firm. In this sense we talk about the virtual firm. In the article, a generalized assignment problem is developed to capture the process of managing special skills of individuals for changing projects in a virtual company.

Suggested Citation

  • Horst Albach, 2001. "Managing Brains," Global Business Review, International Management Institute, vol. 2(1), pages 1-13, February.
    • Handle: RePEc:sae:globus:v:2:y:2001:i:1:p:1-13
    DOI: 10.1177/097215090100200101
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