Final answer:
The correct response is that the collective value of an organizational workforce is called human capital, which encompasses education and skills that are valuable for productivity.
Step-by-step explanation:
The collective value of the capabilities, knowledge, skills, life experiences, and motivation of an organizational workforce is called human capital.
This term refers to the accumulation of skills and education of workers and it is a crucial element in the productivity of workers, the success of businesses, and the economic growth of countries.
Human capital is directly linked to how well workers can translate their abilities and knowledge into productive work outcomes.
Investments in education, training, and health of individuals are essential for developing human capital, which becomes an instrumental asset in fostering innovation, technological advancements, and overall improvement of economic performance.
It is the quality of labor that can be enhanced by factors such as the Industrial Revolution, which brought about significant technological innovations and required a skilled workforce to operate the advanced machinery that transformed production processes.
Therefore, for the quiz question:
- True - the organization's talent inventory
- False - total human resources
- True - human capital
- False - the organization's intellectual assets