Question

Steve leads the administrative department of Mayo Pvt. Ltd. He encourages people to perform to their maximum potential by providing support and regular feedback. He ensures that the opinions of his team members are considered before a decision is taken. He does not believe in rigidity and inviolate procedures. In the context of the given scenario, Steve holds that:
a) Wealthy employees should be given more power.
b) People at the bottom of the organizational hierarchy should have no power.
c) Human capital is more important than financial capital.
d) Tangible assets form the financial basis of today's economy.

Answer 1

Answer:

The answer is: C) Human capital is more important than financial capital.

Explanation:

Steve emphasizes the value of human resources or human capital. He is convinced that the prime factor in the success of a company is its human capital. The actions he takes empowers his staff by giving them a say in the decision making processes.