Advancing the Knowledge Economy: The Impact of Innovations and Human Capital

Abstract

The study's relevance is due to the need to form a knowledge economy through the rational use of human capital and the introduction of innovations. The structural elements of the innovation environment that stimulate professional development, realisation of intellectual potential and growth of labour efficiency are studied. A qualimetric toolkit for analysing human capital in the context of an innovative economy has been introduced, which allows assessing its status and effectiveness of application in production and management. A strategic model for the development of human resources for the knowledge economy has been formed, which provides for the modernisation of the educational system, intensifying innovations, and adapting professional skills to global challenges. The importance of balance in human capital development is substantiated by the principle of the golden ratio and the mechanisms for synchronising human capital management with the goals of innovative progress are proposed.