Human Capital Flashcards
What role does psychology have to play towards effective human capital/ resources development?
- Education
- Psychological Empowerment
- Training
- Attitude change
What is human capital?
It is the stock of knowledge, habits, social and personality attributes, including creativity, embodied in the ability to perform so as to produce economic value
The concept of human capital is rooted in two different fields, what are they?
Economics and psychology
What do we need to know, in scientific terms, to achieve the goal of maximizing human potential?
- How people interact with their environment and each other
- How we learn, remember and express ourselves as individuals and in groups
- we need to know the factors that influence and modify these behaviours
What is the most important element of success in business today?
Human capital
What does developing human capital require?
Creating and cultivating environments in which human beings can rapidly learn and apply new ideas, competencies, skills, behaviours and attitudes
What are the three main interventions for fostering the utilization of human capital?
- strengthen the human capital of an individual by fostering work-related skills or knowledge
- address the acquisition of individual assets
- the promotion of individual self-exploration
What is the role of education in national development?
- it enhances the future of the youth
- it helps develop children
- it also enables adults to gain skills they need to lead productive lives
- it promotes faster economic growth
- it reduces poverty
- improves income distribution
- enhances public revenues
- brings about peace and security
What are the various versions of empowerment?
- generic empowerment
- psychological empowerment
What are the goals of generic empowerment?
Develop the ability to:
1. access, control and mobilize resources (material and
nonmaterial)
2. access and influence decision-making processes (get a voice) on various levels (household, community, national, global)
3. gain an awareness of dominant ideologies and of the nature of domination in order to discover one’s identity,
4. independently determine ones preference.
5. trust in one’s personal abilities in order to act with confidence.
what is psychological empowerment?
It is an individual’s cognitive state characterized by a sense of perceived control, competence and goal internalization
What are the different dimensions that psychological empowerment reflects?
- being psychologically enabled
- having a personal control
- having a proactive approach to life
- having a critical understanding of the socio-political environment rooted firmly in a social action framework
What is the basis for psychological empowerment?
- Human beings are psychological entities and must be considered as such
- To help counter wrong attitudes and behaviours likely to be exhibited by the masses which may eventually hamper good government policies.
- The development will be enhanced, since the majority will see the need for patriotism and commitment to national development
What is the role of psychology in psychological empowerment?
- Provide the necessary course content
- Provide the needed services, e.g. training and development strategies, recruit the right people who will engage in developing the HR base of the
nation - Device strategies to help change people’s mindsets about life, development and education
- Be available to engage in relevant research and
intervention - Motivate, assess, evaluate, report
What are some benefits of having a job?
- the provision of money
- The activity
- the variety
- the temporal structure
- social contacts
- a status and identity within society’s institutions and networks
