Human Capital Management is the Acquiring, Maintaining, Nurturing and Strengthening of the people who actually execute the projects in your firm. It's the projects that generate the revenue that is your business. This conversation focuses on acquiring people.
There's an emphasis on what we actually do over other things that we can do. It starts even in education, and continues when you get into practice. We're essentially weighting the experience that you're expected to get and be competent in saying this is more important than this by adding more hours.
You'll see on social media people complaining about how architects don't get education in business, and then they go into business and they fail. And what are they missing? Well, it's just an introduction to basic business foundational concepts, and the 16th competency standard is understand foundational business principles to operate a practice.
What are ethical and professional standards? These are things that ultimately take 10 years or more to learn, maybe your lifetime, to learn through various experiences that you have along the way.