摘要：本世纪初期，许多企业基本上已经走到了技术改造的失效期，企业通过单纯依靠技术改造提高企业竞争力的能力是越来越弱。人类已经走向了知识经济时代，人力资本对提高企业的竞争力势必起着决定性的作用，企业的长远发展已经不能再依靠扩大投资拉动经济效益，必然要走向依靠人力资本拉动企业经济效益的阶段。而目前很多企业对于人力资本的投资，仅仅限于“表面”人力资本的增加。

         本文通过对人力资本投资这一理论的探讨，结合目前国内最大的语言培训机构---新东方集团的人力资本管理的模式，阐述人力资本投资的必要性及新东方集团的现状分析，以期人力资本投资在我国发展得更为成熟。同时，借鉴西方人力资本投资理论希望对国内企业有所启示，为企业的人力资本投资提供理论指导。使得人力资本的正确投资在实现企业目标的同时实现员工个人的发展。

关键词：人力资本；投资理论；新东方；技术改造；竞争力

Abstract: Early in this century, a large amount of enterprises experienced the expiration date of technological reconstruction. The possibility of improving competition ability of these enterprises which purely rely on technological reconstruction tends to be zero. Presently, human is moving towards in an era of knowledge economy. Human capital plays a crucial role in improving competition ability. Enterprises cannot rely on enlarging investments to fuel economic growth. They must step into the era in which human capital leads to economic benefits. As a fact facing by a lot of enterprises, their investment to human capital is limited to “superficial” increase.

          This paper is trying to express the necessity of human capital’s investment by discussing the human capital investment theory and the status of human capital investment management of New Oriental, which is the largest language training institution. By doing these, I hope that human capital investment could be much more mature in our country. At the same time, this passage proposes western human capital investment theories in order to inspire domestic human capital. Make sure that by proper human capital investment, enterprises could realize their goals and employees’ personal development. 

Key Words:  Human Capital; Investment Theories; New Oriental; Technology Reconstruction; Competitive Power