Name and describe the four types of capital described in the text and identify which are most directly influenced by training and development?
What will be an ideal response?
The four types of capital include human capital, intellectual capital, social capital, and customer capital.
• Human capital refers to the sum of the attributes, life experiences, knowledge, inventiveness, energy, and enthusiasm that a company's employees invest in their work.
• Intellectual capital refers to the codified knowledge that exists within a company.
• Social capital refers to relationships among individuals within a company.
• Customer capital refers to the value of relationships with persons or other organizations outside the company.
Training and development have a direct influence on human and social capital because they affect education, work-related know-how and competence, and work relationships. Training and development can have an indirect influence on customer and social capital by helping employees better serve customers and by providing them with the knowledge needed to create patents and intellectual property.
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