Human Resources as Critical Investments

Paper Summary:

This paper explores whether or not the human resources (HR) within an organization should be used as critical investments. To support this exploration, the terms ?human capital?, ?human assets?, and ?intellectual capital? are discussed, on the merits of each specific term, as well as in relation to one another. Finally, a conclusion is drawn that determines if human resources should be viewed as any or all of the above terms and if HR managers should utilize them as critical investments in an organization?s future.

From the Paper:

"All of the above aspects of HRM are interrelated, with decisions in one area affecting all other areas. The means by which a firm approaches any of these six areas will therefore have an impact on the organization's overall human resources practices. Generally an organization's Human Resource Manager coordinates the key components of HRM. However others, such as line managers, employees, unions and even shareholders can have important contributions to make to the overall HRM practices of the organization. Irrespective of who is involved in the HRM practices of an organization, ?HRM must be engaged in creating institutional change capacity, identifying social trends impacting future business opportunities, and building organizational cultures that can accomplish radical innovation.? "

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