The contribution of HRD to the human and
intellectual capital accumulation process is
central to the focus of this paper and to the
range subject matter presented in this special
issue. The European Commission's White
Paper Teaching and Learning: Towards a
Learning Society identifies a key issue in
respect of investment in human capital and
intellectual capital formation. It argues that
investment in formal HRD and work-based
learning strategies should be considered on
an equal basis as investment in physical
capital. Thus the paper argues that there is a
requirement for change in perspective about
the nature of expenditure on HRD. Guerrero
(1999) in a commentary on the paper
advocates that it requires the
conceptualisation of know-how and skills
acquired by employees as adding value to the
firm. Appelbaum and Gallagher (2000) argue
that investment in HRD at an individual level
is insufficient as a basis to create knowledge
or enhance the capacity of employees to
engage in action. They advocate that an
understanding of the values that underpin
such learning activities to be an important
precondition to successful investment in
HRD. The paradigm suggested is an
organisational learning issue, with a specific
focus on how the organisation supports
learning activities. They understand a
learning organisation approach to be
concerned with dialogue, i.e. the flow of ideas
throughout the organisation.
Based on the issues reviewed in this paper
and the specific focus of each paper, a
number of propositions for practice can be
made in respect of HRD.