Problem :

I. Describe the term "Human Capital" and explain its relevance and importance within the overall framework of managing an organisation.

II. As an Human Resources Manager, you have been entrusted with the responsibility to do what it takes to improve appreciably the performance, productivity and quality of work of your company's workforce by reviewing and revamping your HR policies, procedures and practices with the view of acquiring better and more competent people as well as developing and enhancing significantly the company's existing human assets.

Describe what you would do to fulfill that mandate. Where would you invest time, effort and money to improve the hiring and selection process and to motivate current staff to perform at a superior level?