Human potential and the system of its commercialization management

¹ Kyiv National Economic University named after Vadym Hetman, 54/1 Peremohy Ave., Kyiv, 03057, Ukraine
² Academy of Public Administration, 100 Ialoveni Str., Chisinau, MD 2070, Moldova

^* e-mail: shkoda-tetiana@kneu.edu.ua
^** e-mail: iuliiagern@ukr.net
^*** e-mail: mteplyuk@gmail.com
^**** e-mail: iuliia88iuliia@gmail.com

Abstract

The important factor of business sustainability is human capital. In this regard, there is need to estimate human potential, concerning the effectiveness of its management and commercialization probability. The current research problem lays upon the human potential management and the possibility of its commercialization. The paper aims to provide scientific support on human potential and human capital theories, concerning their connection within the system of a sustainable business development. The research methodology is based on theoretical and methodological approaches of Ukrainian and foreign experts from the last ten years, reflecting human capital and human potential concepts, taking into account business needs. The main part of research highlights the special status of human potential, based on its specific characteristics, including network effects, the ability to convert human potential benefits into significant social and economic effects, hybrid and multiplicative. The paper proposes a new methodological approach on technology for human potential commercialization and management. Human potential commercialization measurement is offered as a new model to assess the significance of human potential and its managerial effectiveness estimation. The study results can be used within programs for sustainable and social business development. More extensive study is required to prove the proposed methodological approach effectiveness within different sectors and branches.