Exploring Foreign Direct Investment for Human Resources Development in Developing Countries — A Case Study of Shandong Iron and Steel Group in Sierra Leone

Sahr James Dauda; Nathaniel Osman Bangura; Zhang Li Ming

doi:doi:10.11648/j.jhrm.20190704.18

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Exploring Foreign Direct Investment for Human Resources Development in Developing Countries — A Case Study of Shandong Iron and Steel Group in Sierra Leone

Sahr James Dauda, Nathaniel Osman Bangura, Zhang Li Ming

Published in Journal of Human Resource Management (Volume 7, Issue 4)

Received: 24 October 2019 Accepted: 7 December 2019 Published: 25 December 2019

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Abstract

Inviting foreign companies to set up factories in host countries not only helps improve the local economy, but it also helps to develop local manpower. This is because most foreign companies tend to bring in their own specialists who end up training the local workers specific new skills that end up upgrading the human resources capacity and hence the economy of the host countries. This has the potential to build Foreign Direct Investment (FDI) into an influential element for the development of Human Resource Management (HRM) of the host countries. This is especially true for developing economies where HRM is still rudimentary. Also, income generated from FDI can enhance the proper functioning of HRM that will in turn drive organizations to achieve set production goals. Qualified foreign Human Resource Experts (HRE) have the responsibility to hire and train local workers on improving job outputs. Thus, by focusing not only on theories, but also practical applications of HRM in Sierra Leone, this paper analyzed the role of foreign companies, especially Chinese companies, in economic development in Sierra Leone. The paper discussed the challenges foreign companies face in Sierra Leone, where HRM is still rudimentary. It put forward practicable solutions towards such problems in the hope that the stakeholders and decision-makers in the country can begin to look at FDI as an integral element for the human, socio-economic and cultural development of the country.

Published in	Journal of Human Resource Management (Volume 7, Issue 4)
DOI	10.11648/j.jhrm.20190704.18
Page(s)	138-144
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Foreign Companies, Developing Countries, Human Resources Department, Sierra Leone

References

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[3]	Moran, T, (1998), “Foreign Direct Investment and Development: The New Policy Agenda for Developing Countries and Economies in Transition,” Institute for International Economics, Washington, D. C.
[4]	Olatunji Ojo, “Ibadan Farm Slaves”, Nigeria Journal of Economic History, 2 (2001).
[5]	Agosin M., Machado R. (2005). Foreign Investment in Developing Countries: Does it Crowd in Domestic Investment?, Oxford Development Studies, 33 (2): 149 – 162.
[6]	Nunnenkamp, Peter & Bremont, José Eduardo Alatorre, 2007. "FDI in Mexico: An empirical assessment of employment effects," Kiel Working Papers 1328, Kiel Institute for the World Economy (IfW).
[7]	Freeman, Nick J. and Curt Nestor. “FDI in Vietnam: Fuzzy Figures and sentiment Swings”, in Re-thinking Vietnam, edited by Duncan McCargo. London: Routledge, forthcoming 2002.
[8]	Madzinová, R. Sedláková, I. (2014), Vplyv podnikateľského prostredia na malé a stredné podniky, In: I. Jeleňová, G. Kravčáková (Eds.), Ľudský kapitál a spoločnosť, Košice: UPJŠ.
[9]	Maher, Maria (2001), The Benefits and Costs of Foreign Direct Investment: A Survey, OECD Directorate for Financial, Fiscal and Enterprise Affairs’ Committee on International Investment and Multinational Enterprises, DAFFE/IME(2001)21.
[10]	Paul M. Romer, The Journal of Political Economy, Vol. 98, No. 5, Part 2: The Problem of Development: A Conference of the Institute for the Study of Free Enterprise Systems. (Oct., 1990), pp. S71-S102.
[11]	Silue, S. (2000) Education, Literacy and Development in Africa. Cape Town: Centre for Advanced Studies of African Society.
[12]	Sierra Leone Laws, ‘Environment Protection Agency Act, 2008’ http://www.sierra-leone.org/Laws/2008-11.pdf last accessed 31 July 2015.
[13]	International Monetary Fund, “Resources to fight Ebola” March 25 2015, http://www.imf.org/external/pubs/ft/survey/so/2015/car030315a.htm last accessed 22 July 2015.
[14]	Parkes D, B Mendelsohn and O Kwafo-Akoto, ‘Overview of Foreign Direct InvestmentinAfrica (October2014) http://www.kwm.com/en/uk/knowledge/insights/overview-of-foreign-direct-investment-in-africa-20141014, last accessed 24 August 2015.
[15]	Neumayer E, and L Spees, Do Bilateral Investment Treaties Increase Foreign Direct Investment to Developing Countries? (World development, 33 (10) pp1567-1585 2005 Elsevier Limited).

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APA Style

Sahr James Dauda, Nathaniel Osman Bangura, Zhang Li Ming. (2019). Exploring Foreign Direct Investment for Human Resources Development in Developing Countries — A Case Study of Shandong Iron and Steel Group in Sierra Leone. Journal of Human Resource Management, 7(4), 138-144. https://doi.org/10.11648/j.jhrm.20190704.18

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ACS Style

Sahr James Dauda; Nathaniel Osman Bangura; Zhang Li Ming. Exploring Foreign Direct Investment for Human Resources Development in Developing Countries — A Case Study of Shandong Iron and Steel Group in Sierra Leone. J. Hum. Resour. Manag. 2019, 7(4), 138-144. doi: 10.11648/j.jhrm.20190704.18

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AMA Style

Sahr James Dauda, Nathaniel Osman Bangura, Zhang Li Ming. Exploring Foreign Direct Investment for Human Resources Development in Developing Countries — A Case Study of Shandong Iron and Steel Group in Sierra Leone. J Hum Resour Manag. 2019;7(4):138-144. doi: 10.11648/j.jhrm.20190704.18

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@article{10.11648/j.jhrm.20190704.18,
  author = {Sahr James Dauda and Nathaniel Osman Bangura and Zhang Li Ming},
  title = {Exploring Foreign Direct Investment for Human Resources Development in Developing Countries — A Case Study of Shandong Iron and Steel Group in Sierra Leone},
  journal = {Journal of Human Resource Management},
  volume = {7},
  number = {4},
  pages = {138-144},
  doi = {10.11648/j.jhrm.20190704.18},
  url = {https://doi.org/10.11648/j.jhrm.20190704.18},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jhrm.20190704.18},
  abstract = {Inviting foreign companies to set up factories in host countries not only helps improve the local economy, but it also helps to develop local manpower. This is because most foreign companies tend to bring in their own specialists who end up training the local workers specific new skills that end up upgrading the human resources capacity and hence the economy of the host countries. This has the potential to build Foreign Direct Investment (FDI) into an influential element for the development of Human Resource Management (HRM) of the host countries. This is especially true for developing economies where HRM is still rudimentary. Also, income generated from FDI can enhance the proper functioning of HRM that will in turn drive organizations to achieve set production goals. Qualified foreign Human Resource Experts (HRE) have the responsibility to hire and train local workers on improving job outputs. Thus, by focusing not only on theories, but also practical applications of HRM in Sierra Leone, this paper analyzed the role of foreign companies, especially Chinese companies, in economic development in Sierra Leone. The paper discussed the challenges foreign companies face in Sierra Leone, where HRM is still rudimentary. It put forward practicable solutions towards such problems in the hope that the stakeholders and decision-makers in the country can begin to look at FDI as an integral element for the human, socio-economic and cultural development of the country.},
 year = {2019}
}

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TY  - JOUR
T1  - Exploring Foreign Direct Investment for Human Resources Development in Developing Countries — A Case Study of Shandong Iron and Steel Group in Sierra Leone
AU  - Sahr James Dauda
AU  - Nathaniel Osman Bangura
AU  - Zhang Li Ming
Y1  - 2019/12/25
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DO  - 10.11648/j.jhrm.20190704.18
T2  - Journal of Human Resource Management
JF  - Journal of Human Resource Management
JO  - Journal of Human Resource Management
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EP  - 144
PB  - Science Publishing Group
SN  - 2331-0715
UR  - https://doi.org/10.11648/j.jhrm.20190704.18
AB  - Inviting foreign companies to set up factories in host countries not only helps improve the local economy, but it also helps to develop local manpower. This is because most foreign companies tend to bring in their own specialists who end up training the local workers specific new skills that end up upgrading the human resources capacity and hence the economy of the host countries. This has the potential to build Foreign Direct Investment (FDI) into an influential element for the development of Human Resource Management (HRM) of the host countries. This is especially true for developing economies where HRM is still rudimentary. Also, income generated from FDI can enhance the proper functioning of HRM that will in turn drive organizations to achieve set production goals. Qualified foreign Human Resource Experts (HRE) have the responsibility to hire and train local workers on improving job outputs. Thus, by focusing not only on theories, but also practical applications of HRM in Sierra Leone, this paper analyzed the role of foreign companies, especially Chinese companies, in economic development in Sierra Leone. The paper discussed the challenges foreign companies face in Sierra Leone, where HRM is still rudimentary. It put forward practicable solutions towards such problems in the hope that the stakeholders and decision-makers in the country can begin to look at FDI as an integral element for the human, socio-economic and cultural development of the country.
VL  - 7
IS  - 4
ER  -

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Author Information

Sahr James Dauda

School of Business and Management, Department of Human Resource Management, Sichuan University, Chengdu, China
Nathaniel Osman Bangura

Department of Economics, Fourah Bay College, Western Area, Freetown, Sierra Leone
Zhang Li Ming

School of Business and Management, Department of Human Resource Management, Sichuan University, Chengdu, China

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APA Style

Sahr James Dauda, Nathaniel Osman Bangura, Zhang Li Ming. (2019). Exploring Foreign Direct Investment for Human Resources Development in Developing Countries — A Case Study of Shandong Iron and Steel Group in Sierra Leone. Journal of Human Resource Management, 7(4), 138-144. https://doi.org/10.11648/j.jhrm.20190704.18

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ACS Style

Sahr James Dauda; Nathaniel Osman Bangura; Zhang Li Ming. Exploring Foreign Direct Investment for Human Resources Development in Developing Countries — A Case Study of Shandong Iron and Steel Group in Sierra Leone. J. Hum. Resour. Manag. 2019, 7(4), 138-144. doi: 10.11648/j.jhrm.20190704.18

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AMA Style

Sahr James Dauda, Nathaniel Osman Bangura, Zhang Li Ming. Exploring Foreign Direct Investment for Human Resources Development in Developing Countries — A Case Study of Shandong Iron and Steel Group in Sierra Leone. J Hum Resour Manag. 2019;7(4):138-144. doi: 10.11648/j.jhrm.20190704.18

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@article{10.11648/j.jhrm.20190704.18,
  author = {Sahr James Dauda and Nathaniel Osman Bangura and Zhang Li Ming},
  title = {Exploring Foreign Direct Investment for Human Resources Development in Developing Countries — A Case Study of Shandong Iron and Steel Group in Sierra Leone},
  journal = {Journal of Human Resource Management},
  volume = {7},
  number = {4},
  pages = {138-144},
  doi = {10.11648/j.jhrm.20190704.18},
  url = {https://doi.org/10.11648/j.jhrm.20190704.18},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jhrm.20190704.18},
  abstract = {Inviting foreign companies to set up factories in host countries not only helps improve the local economy, but it also helps to develop local manpower. This is because most foreign companies tend to bring in their own specialists who end up training the local workers specific new skills that end up upgrading the human resources capacity and hence the economy of the host countries. This has the potential to build Foreign Direct Investment (FDI) into an influential element for the development of Human Resource Management (HRM) of the host countries. This is especially true for developing economies where HRM is still rudimentary. Also, income generated from FDI can enhance the proper functioning of HRM that will in turn drive organizations to achieve set production goals. Qualified foreign Human Resource Experts (HRE) have the responsibility to hire and train local workers on improving job outputs. Thus, by focusing not only on theories, but also practical applications of HRM in Sierra Leone, this paper analyzed the role of foreign companies, especially Chinese companies, in economic development in Sierra Leone. The paper discussed the challenges foreign companies face in Sierra Leone, where HRM is still rudimentary. It put forward practicable solutions towards such problems in the hope that the stakeholders and decision-makers in the country can begin to look at FDI as an integral element for the human, socio-economic and cultural development of the country.},
 year = {2019}
}

Copy | Download

TY  - JOUR
T1  - Exploring Foreign Direct Investment for Human Resources Development in Developing Countries — A Case Study of Shandong Iron and Steel Group in Sierra Leone
AU  - Sahr James Dauda
AU  - Nathaniel Osman Bangura
AU  - Zhang Li Ming
Y1  - 2019/12/25
PY  - 2019
N1  - https://doi.org/10.11648/j.jhrm.20190704.18
DO  - 10.11648/j.jhrm.20190704.18
T2  - Journal of Human Resource Management
JF  - Journal of Human Resource Management
JO  - Journal of Human Resource Management
SP  - 138
EP  - 144
PB  - Science Publishing Group
SN  - 2331-0715
UR  - https://doi.org/10.11648/j.jhrm.20190704.18
AB  - Inviting foreign companies to set up factories in host countries not only helps improve the local economy, but it also helps to develop local manpower. This is because most foreign companies tend to bring in their own specialists who end up training the local workers specific new skills that end up upgrading the human resources capacity and hence the economy of the host countries. This has the potential to build Foreign Direct Investment (FDI) into an influential element for the development of Human Resource Management (HRM) of the host countries. This is especially true for developing economies where HRM is still rudimentary. Also, income generated from FDI can enhance the proper functioning of HRM that will in turn drive organizations to achieve set production goals. Qualified foreign Human Resource Experts (HRE) have the responsibility to hire and train local workers on improving job outputs. Thus, by focusing not only on theories, but also practical applications of HRM in Sierra Leone, this paper analyzed the role of foreign companies, especially Chinese companies, in economic development in Sierra Leone. The paper discussed the challenges foreign companies face in Sierra Leone, where HRM is still rudimentary. It put forward practicable solutions towards such problems in the hope that the stakeholders and decision-makers in the country can begin to look at FDI as an integral element for the human, socio-economic and cultural development of the country.
VL  - 7
IS  - 4
ER  -

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