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Successful companies rely on traditional factors of production for their survival. Yet the most important and sustainable sources of competitive advantage--knowledge, customer relations, supply-on-demand, micromanagement, and other forms of "intellectual capital"--often don't even appear on many companies' reporting systems. The results of this lack of attention to intellectual capital can be disastrous for companies and their stockholders. Providing an organizational system that helps managers maximize the flow of intellectual capital in their companies, Intellectual Capital presents the insights gained by leading experts from the practice, research, and consulting side of business management. Starting with a definition of intellectual capital and it main components, the book offers a step-by-step "process model" to rooting out corporate inefficiency at all levels. Illustrated with vivid case studies, the book also covers the latest thinking and practices of the "second generation" of intellectual capital practices, from consolidating intellectual capital measures into a single "IC Index" to linking them with shareholder value creation systems.
This book presents a new view of organizations which has important implications for the theory, methods and practice of management. The authors examine how this theory can be applied in the organization and management field, by an increased focus on knowledge and the processes of knowledge development and guidance.
Based upon observation of and involvement in the strategy processes of three media firms a framework for strategy processes is proposed and a practical outline of how new strategy processes should be developed is presented.
Intellectual Capital refers to one of the most important sources of business advantage - the knowledge within the organisation of how to create value for customers. This is reflected in the transformation of society into knowledge work and the increasing difference between the book value and the market value of companies.
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