As the fourth industrial revolution blurs the physical and digital divide, its impact shall be perceived upon all levels of socio-economic, industrial, governmental and individual dimensions. In the context of ASEAN countries, the greatest threat to employment comes in the form of automation that will make the human resource redundant and replaceable particularly in China and Bangladesh: two of the leading manufacturing countries in the world. If we look at the current scenario, it can be obvious for us to deduce that Bangladesh is not taking much of an initiative towards the fourth industrial revolution. But there are plenty of ways the fourth industrial revolution can be utilized to develop human capital.
Human capital development starts from as early as the childhood phase of the people as it represents skills, knowledge, and health that people accumulate over their lives. Encouraging livestock production will be helpful for child growth due to the increase in dairy production. Rather than a siloed approach, multisectoral coordination while taking initiatives, in nutrition interventions is effective. Family planning programs that enable birth spacing reduce demands on the low maternal nutrient stores in developing countries. We also should focus to collaborate with programs such as Jhilmili, Proshikkha, Brac Development Programs, UNICEF.
While taking a look at the actual situation regarding education and unemployment, one finds a rather paradoxical relationship. Higher levels of education are associated with lower levels of unemployment in developed countries, but not so in developing countries. By introducing automation technologies, the yield of agriculture sector can be increased, this will ensure two things together, it will attract the technologically proficient people and make the sector lucrative enough towards being able to compete with lucrative jobs. We should also look to introduce vocational and technical education early in junior secondary school to encourage attaining dual qualification.
For training development activities certification of skill or Apprenticeship (Dual Training System) has to be promoted). Besides, Branding strategies should be deviced specifically catered to the Labor Capital with campaigns like "We don't build beams; we build dreams."
Table of Contents
1. Introduction
2. Background
3. Objectives
3.1 Specific Objective
3.2 Broad Objectives
4. Human Capital Development in Bangladesh
5. Risks
6. Human capital development: Facing Industrialization 4.0
6.1 Impact on the flow of work (instructional design vs learning design)
6.2 Bangladesh’s stand on the Map of fourth Industrial Revolution
7. Human Capital Development Strategies
7.1 Early Childhood Phase
7.2 A Focus on the Right Kind of Education
7.3 Training Development Activities
8. Branding Human Capital
9. Conclusion
Objectives and Research Focus
The primary objective of this work is to explore effective strategies for the development of human capital in Bangladesh amidst the challenges and opportunities presented by the Fourth Industrial Revolution. The study aims to bridge the existing skill gap, address educational paradoxes, and align human resource management with global industrial shifts.
- Analysis of sector-specific skill requirements across the primary to quinary economic sectors.
- Assessment of risks related to automation and their impact on the labor market.
- Examination of the necessity for instructional and learning design reform.
- Strategies for early childhood development, including nutrition and educational focus.
- Branding initiatives to enhance the value and recognition of the Bangladeshi labor force.
Excerpt from the Book
6. Human capital development: Facing Industrialization 4.0
The advent of the fourth industrial revolution shall bring about extensive changes through all industries which will mutate consumption, production, transportation and delivery systems along with many other factors. Concurrently, the essence of work is changing: some of it can be attributed to new technologies and their impact on business models, and some to new platforms that allow talent to connect and collaborate holistically in markets in contemporary methods.
It is imperative that visionary leaders from a wide range of skills emerge to guide these changes for optimal outcome. Unless we develop relevant skills to adapt to the rapidly emerging VUCA world, we shall not only miss out on the opportunities presented by the revolution but also experience its disruptions as bystanders. As emerging technologies rattle the labor markets, this presents the potential to alter the way we learn throughout our lifetimes, how we re-train those who are facing declining returns to their skills and how we educate the next generation. Apart from bringing forth robust new data, they are also providing metrics that allow us to understand the alterations taking place and help manage them better.
Summary of Chapters
1. Introduction: Presents the emerging mega transition caused by the Fourth Industrial Revolution and the necessity for immediate investment in human potential.
2. Background: Outlines the role of the Ministry of Labour and Employment and highlights the significant increase in overseas migration and current skill gap obstacles.
3. Objectives: Defines specific and broad objectives, ranging from identifying job sectors to suggesting government policy frameworks.
4. Human Capital Development in Bangladesh: Discusses the concept of task-specific human capital and outlines skill requirements across five defining economic sectors.
5. Risks: Analyzes potential risks like automation and "black swan" events, emphasizing the need for adaptability and holistic thinking.
6. Human capital development: Facing Industrialization 4.0: Explores the impact of the Fourth Industrial Revolution on work, instructional design, and Bangladesh's current position.
7. Human Capital Development Strategies: Proposes actionable strategies focusing on early childhood nutrition, educational reform, and technical training.
8. Branding Human Capital: Suggests branding campaigns to improve the perception and competitive edge of the Bangladeshi workforce globally.
9. Conclusion: Summarizes that while Bangladesh faces challenges, the right strategies in education and skill training can effectively prepare the nation for future industrial demands.
Keywords
Human Capital, Fourth Industrial Revolution, Bangladesh, Skill Gap, Automation, Education, Labor Market, Vocational Training, Early Childhood Development, Branding, Employment, Nutrition, Industrialization, Technical Skills, Workforce Development.
Frequently Asked Questions
What is the central focus of this publication?
The document investigates how Bangladesh can develop its human capital to remain competitive during the Fourth Industrial Revolution by addressing skill gaps and modernizing education.
What are the primary thematic areas covered?
The main themes include sectoral skill requirements, the impact of automation, early childhood health, educational reform, and global branding of the labor force.
What is the main goal of the research?
The goal is to determine effective strategies for government and private sectors to align human resource development with the requirements of an evolving global, tech-driven economy.
Which methodology is utilized in this paper?
The paper utilizes a strategic analysis approach, reviewing existing economic data, labor force surveys, and global industry trends to provide recommendations for human capital development.
What does the main body address?
The main body examines the five economic sectors, assesses risks like automation and economic shifts, evaluates the impact of Industry 4.0, and proposes solutions for education and branding.
Which keywords characterize this work?
Key terms include Human Capital, Fourth Industrial Revolution, Skill Gap, Automation, and Vocational Training.
Why is the early childhood phase considered critical for human capital?
The author argues that human capital starts in childhood, and addressing issues like stunting through dairy intake and nutrition is essential for building a productive future workforce.
How does the author propose to fix the "Education vs. Unemployment" paradox?
The author recommends sectoral renovation, shifting focus to secondary and tertiary skills, and implementing curriculum reforms that emphasize technical and vocational training linked to labor market needs.
- Quote paper
- Zaif Ahon (Author), 2018, Strategies to Develop Human Capital in Bangladesh in Light of 4th Industrial Revolution, Munich, GRIN Verlag, https://www.grin.com/document/469584
