Henri Savall: From the beginning of the research on SEAM, I studied the concept of human capital and I thought it was an error conceptually, because the human capital is owned by individuals, it doesn’t pertain to any organization. And the concept of human capital would be accurate when speaking of the individual, the owner of the human capital uses what he transfers to the organization is the result of the base potential. The base potential is low or high and what he brings to other people. Maybe low level or high level and that is the meaning of potential and we can’t put on a balance sheet, in a sense human capital. When in mergers and acquisitions, the assessment of the enterprise is to estimate the value of human capital for the organization. Then the acquisition is made, it is done and then people leave, quit the organization. It is not a capital which belongs to the organization. It is a conceptual error. That is the meaning of human potential, not capital.

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