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date: 05 August 2021

Abstract and Keywords

This article describes how the distributed dynamic dimensions of human capital (HC) are developed and utilized in knowledge-creating companies. It perceives HC as the most important resource for a firm, and argues that a firm's sustainable competitive advantage comes from its ability to create knowledge in a changing environment. Because knowledge is created by people in their interactions with each other and the environment, it is important to understand the nature of human beings in order to keep creating knowledge and make knowledge a sustainable competitive advantage of the firm. Compared to other resources, HC is different because humans are subjective, interrelated beings who make value judgments. The article builds on the philosophical concept of phronesis to describe the development and utilization of distributed, dynamic HC. It provides a review of HC literature and discusses the characteristics of human agents drawing from interpretative philosophy.

Keywords: dynamic dimensions, human capital, knowledge-creating companies, phronesis, interpretative philosophy

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