A well-prepared and motivated workforce is possibly the most important of the three
intangible assets to support an organisation’s value creating processes. The other
two are information/technology capital and organisational capital. According to Peter
Drucker ‘The most valuable asset of a 20th century company was its production
equipment. The most valuable asset of a 21st century institution will be its knowledge
workers and their productivity’ (Drucker 1999, p79). The human resource capital
along with the other three intangible assets underpins all activities, ranging from
management of internal processes and operations, funding, budgets and customer
services.