Jon Ingham was very kind to invite me to join SOCIAL CAPITAL. I am very happy to become a member, and I want to say "Hi" to all members. In this post, I am sharing my article, and I will be glad to read your comments.
Bill Parsons, thank you for your valuable comment. From the social learning theory (Bandura, 1977) perspective, SC is crucial for the development of individual HC. On the other hand, individual HC adds value to SC. As you have written "you hire excellent people ideally with a propensity to enjoy the culture", hiring excellent people is needed, yet hiring diverse talent and implementing HRM practices for inclusion is even more needed because diverse HC creates unique SC, and both of them result in new IC.
This is a very interesting article in that it reinforces the point that strong SC enhances individual capability (HC). So, in order to get the best from individuals you have to help them develop their own networks internally and externally to the organisation. This fits with our strategic cycle at ARM where you hire excellent people ideally with a propensity to enjoy the culture. This the HC. You then intervene with HRM practices to enhance the collective and individual SC within a business with a clear narrative and high levels of trust to people innovate and produce new intellectual capital which is the essence of a businesses competitive advantage. The new IC and the experience and learning involved in developing it enhances the existing people as they make the new IC either explicit through documentation or retain it tacitly in their brains. With high SC, they share the tacit knowledge with new hires etc etc