Glossary:
48. Building Human Capital Toward Sustainability
| Term | Definition |
|---|---|
Career Development | The ongoing process of managing one's career path, goals, and aspirations through self-assessment, skill development, learning opportunities, networking, and strategic planning, aimed at achieving personal and professional growth, advancement, and fulfillment over time. |
Competitive Advantage | The unique qualities or strategies that give an organization an edge over its competitors. |
Human Capital | The collective value of an organization's employees and their skills, knowledge, and abilities. |
Human Capital Strategy | A comprehensive plan or framework developed by an organisation to effectively manage its workforce and maximise the value of its human capital, encompassing recruitment, retention, training, development, performance management, and succession planning initiatives aligned with the organisation's overall goals and objectives. |
Knowledge Workers | Employees whose primary role involves creating, analyzing, synthesizing, or applying knowledge and information to perform their job tasks, typically in fields such as technology, research, consulting, or creative industries, emphasizing the importance of intellectual skills, expertise, and innovation in driving organizational success and competitive advantage. |
Organisational Memory | The collective knowledge, information, and experiences accumulated within an organization over time, including both explicit (documents, databases) and tacit (individual expertise, organizational culture) forms of knowledge, which inform decision-making, problem-solving, and innovation processes, contributing to organizational effectiveness and resilience. |
Performance Management | The process of planning, monitoring, and evaluating an employee's work performance. |
Performance Management | The systematic process of planning, monitoring, evaluating, and improving employee performance to ensure that organizational goals and objectives are effectively met, typically involving setting clear expectations, providing feedback, identifying areas for improvement, and aligning individual efforts with organizational priorities. |
Positive Psychology | A branch of psychology that focuses on understanding and promoting human well-being, happiness, and flourishing, emphasising the study of positive emotions, strengths, virtues, and resilience, and applying research findings to enhance individual and societal fulfillment, meaning, and quality of life. |
Responsible Decision-Making | The process of assessing and evaluating options, considering ethical and moral principles, potential consequences, and the impact on stakeholders, to make choices that are in alignment with ethical standards, social norms, and organisational values, aiming to achieve positive outcomes while minimising harm and promoting integrity. |
Sustainability Leadership | The practice of guiding and inspiring individuals, organizations, or communities to adopt sustainable principles, practices, and behaviors, fostering a culture of environmental responsibility, social equity, and economic prosperity, and driving positive change towards a more sustainable future. |
Sustainable Business | An organisation that operates in a manner that balances economic growth with social responsibility and environmental stewardship, aiming to create long-term value for all stakeholders while minimising negative impacts on society and the environment. |
Teamwork | The collaborative effort of a group of individuals working together towards a common goal. |
Upskilling | The process of acquiring new skills or enhancing existing ones to adapt to changing job requirements. |
