After attending a seminar on human capital, a mining company executive argues that this view of organizations ignores the fact that mining companies could not rely on people alone to stay in business. They also need physical capital (such as digging and ore-processing equipment)

and land (where the minerals are located). In fact, these two may be more important than what employees carry around in their heads. Discuss the mining executive’s comments in the context of human capital and organizational effectiveness.

AppendixLO1