HUMAN CAPITAL

The optimism of the current decade is reflected in many positive-sounding terms, creating a contrast - or at least balance - with the reductionism and cost-focus of the nineties. Many of these . terms however are not yet established with a common meaning. Some equate 'intellectual capital' solely with the employees; others with the knowledge they possess; yet others with the knowledge and patents they produce. Is 'human capital' the same as 'people as assets'? Is 'knowledge management' the same as 'intellectual capital management' and where does it sit in relation to the nineties concept of the 'learning organisation'? The decisions and practices of many organisations are clearly based on people being seen more as costs than assets, especially where short term considerations dominate. This dichotomy between action and intuitive logic and belief(which knows in its heart how important people are )is no surprise in a world dominated by numbers, accountants, and fickle financial analysts. So are all these new terms merely the latest in fads, or do they represent a serious shift in thinking?