Date of this Version
Published in Business Horizons, Volume 47, Issue 1 (January–February 2004), pp 45–50. doi 10.1016/j.bushor.2003.11.007
With the rising recognition of human resources as a competitive advantage in today’s global economy, human capital and, more recently, social capital are being touted in both theory, research, and practice. To date, however, positive psychological capital has been virtually ignored by both business academics and practitioners. “Who I am” is every bit as important as “what I know” and “who I know.” By eschewing a preoccupation with personal shortcomings and dysfunctions and focusing instead on personal strengths and good qualities, today’s leaders and their associates can develop confidence, hope, optimism, and resilience, thereby improving both individual and organizational performance.