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Essay / Research Paper Abstract
20 pages in length. People have long been looked upon as the strength behind a successful business or the flaw that causes a company to fail. This tremendous responsibility placed upon those who most often have little to gain other than the personal satisfaction of putting in an honest day's work has come to reflect an equally enormous misconception: that a company's workforce is a passive asset that can easily be bought, sold or replaced according to the owners' needs. Bibliography lists 10 sources.
Page Count:
20 pages (~225 words per page)
File: LM1_TLCHumanCapt.rtf
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have little to gain other than the personal satisfaction of putting in an honest days work has come to reflect an equally enormous misconception: that a companys workforce is a
passive asset that can easily be bought, sold or replaced according to the owners needs. By paying no mind to the needs of the workers or respecting them as
vital components to the company as a whole, this attitude serves to justify what Davenport claims is a blatant disregard for how "they are investing time, energy and talent in
that organisation."1 By virtue of workers being human beings, they cannot be classified as corporate assets; the very thought of a sentient creature being misconstrued as a passive asset
has been, according to Davenport, one of the most significant downfalls of how organizations have collectively approached their workforces. People are not pawns or simply cogs in the wheel
of production with which the corporate hierarchy can distribute and displace at will, but rather they are individuals who should be perceived as both investors and owners of human capital.2
The clich? that we should not treat people like machines has been around since the first industrial machine. The phrase "People are our most important asset" has been around
almost as long. If people really are assets, then maybe they should be treated like machines, at least from an elementary accounting perspective. Then we could determine the
return on human capital as a measure of organization performance, which would tell investors the value of a companys multimillion-dollar compensation package just as current accounting practices tell investors the
value of multimillion-dollar investments in machines.3 II. DEFINING HUMAN CAPITAL An individuals overall marketability is what resides at the core of human capital. The extent to which a
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