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Intellectual Capital Management
Intellectual capital is the sum of all knowledge; implying that knowledge that exists at different levels both within or outside the organisation has to be taken into account for intellectual capital. The intangible nature of many knowledge products and processes, in combination with the increasing importance of their value in corporate balance sheets leads to a growing interest in management of intellectual capital. Creating, shaping and updating the stock of intellectual capital requires the formulation of a strategic vision, which blends together all three dimensions of intellectual capital (Human, Structural and Relational Capital) within the organisational context through exploration and exploitation, measurement and disclosure. Therefore, the organisational value of intellectual capital is developed via an ongoing and emergent process focused on the capability to leverage, develop and change the dimensions. The management of intellectual capital is conceptualised as occurring vi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intellectual Capital
Intellectual capital is the result of mental processes that form a set of intangible objects that can be used in economic activity and bring income to its owner (organization), covering the competencies of its people (human capital), the value relating to its relationships ( relational capital), and everything that is left when the employees go home ( structural capital), of which intellectual property (IP) is but one component. It is the sum of everything everybody in a company knows that gives it a competitive edge. The term is used in academia in an attempt to account for the value of intangible assets not listed explicitly on a company's balance sheets. On a national level, intellectual capital refers to national intangible capital (NIC). A second meaning that is used in academia and was adopted in large corporations is focused on the recycling of knowledge via knowledge management and intellectual capital management (ICM). Creating, shaping and updating the stock of intelle ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Knowledge
Knowledge is an Declarative knowledge, awareness of facts, a Knowledge by acquaintance, familiarity with individuals and situations, or a Procedural knowledge, practical skill. Knowledge of facts, also called propositional knowledge, is often characterized as Truth, true belief that is distinct from opinion or guesswork by virtue of Justification (epistemology), justification. While there is wide agreement among philosophers that propositional knowledge is a form of true belief, many controversies focus on justification. This includes questions like how to understand justification, whether it is needed at all, and whether something else besides it is needed. These controversies intensified in the latter half of the 20th century due to a series of thought experiments called ''Gettier cases'' that provoked alternative definitions. Knowledge can be produced in many ways. The main source of empirical knowledge is perception, which involves the usage of the senses to learn about ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balance Sheet
In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a "snapshot of a company's financial condition". It is the summary of each and every financial statement of an organization. Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business's calendar year. A standard company balance sheet has two sides: assets on the left, and financing on the right–which itself has two parts; liabilities and ownership equity. The main categories of assets are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intellectual Capital
Intellectual capital is the result of mental processes that form a set of intangible objects that can be used in economic activity and bring income to its owner (organization), covering the competencies of its people (human capital), the value relating to its relationships ( relational capital), and everything that is left when the employees go home ( structural capital), of which intellectual property (IP) is but one component. It is the sum of everything everybody in a company knows that gives it a competitive edge. The term is used in academia in an attempt to account for the value of intangible assets not listed explicitly on a company's balance sheets. On a national level, intellectual capital refers to national intangible capital (NIC). A second meaning that is used in academia and was adopted in large corporations is focused on the recycling of knowledge via knowledge management and intellectual capital management (ICM). Creating, shaping and updating the stock of intelle ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Knowledge Worker
Knowledge workers are workers whose main capital is knowledge. Examples include ICT professionals, physicians, pharmacists, architects, engineers, scientists, designers, public accountants, lawyers, librarians, archivists, editors, and academics, whose job is to "think for a living". Definition Knowledge work can be differentiated from other forms of work by its emphasis on "non-routine" problem solving that requires a combination of convergent and divergent thinking. But despite the amount of research and literature on knowledge work, there is no succinct definition of the term. Mosco and McKercher (2007) outline various viewpoints on the matter. They first point to the most narrow and defined definition of knowledge work, such as Florida's view of it as specifically, "the direct manipulation of symbols to create an original knowledge product, or to add obvious value to an existing one", which limits the definition of knowledge work to mainly creative work. They t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Knowledge Management
Knowledge management (KM) is the set of procedures for producing, disseminating, utilizing, and overseeing an organization's knowledge and data. It alludes to a multidisciplinary strategy that maximizes knowledge utilization to accomplish organizational goals. Courses in business administration, information systems, management, libraries, and information science are all part of knowledge management, a discipline that has been around since 1991. Information and media, computer science, public health, and public policy are some of the other disciplines that may contribute to KM research. Numerous academic institutions provide master's degrees specifically focused on knowledge management. As a component of their IT, human resource management, or business strategy departments, many large corporations, government agencies, and nonprofit organizations have resources devoted to internal knowledge management initiatives. These organizations receive KM guidance from a number of consulting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Management
Capital management refers to the area of financial management that deals with capital assets, which are assets that have value as a function of economic production, or otherwise are of utility to other economic assets. Capital management can broadly be divided into two classes: * Working capital management regards the management of assets that are of capital value to the firm or business entity itself. * Investment management on the other hand concerns assets that are alternative sources of revenue and normally exist outside of the main revenue model(s) of corporate structures. The discipline exists because assets that are of capital value to business entities or other legal persons require management to aim to achieve optimal, adequate or otherwise sufficient capital performance of the assets at hand. Underperforming capital assets pose a liability to the finances and continued existence of any legal entity, regardless of whether it is positioned in the public sector or in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Structural Capital
Structural capital is one of the three primary components of intellectual capital, and consists of the supportive infrastructure, processes, and databases of the organisation that enable human capital to function. Structural capital is owned by an organization and remains with an organization even when people leave. It includes: capabilities, routines, methods, procedures and methodologies embedded in organisation. Structural capital is the supportive non-physical infrastructure that enables human capital to function. There are three subcomponents that comprise structural capital: Organizational capital includes the organization philosophy and systems for leveraging the organization’s capability. Process capital includes the techniques, procedures, and programs that implement and enhance the delivery of goods and services. Innovation capital includes intellectual property and certain other intangible assets. Intellectual property includes protected commercial rights such ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Human Capital
Human capital or human assets is a concept used by economists to designate personal attributes considered useful in the production process. It encompasses employee knowledge, skills, know-how, good health, and education. Human capital has a substantial impact on individual earnings. Research indicates that human capital investments have high economic returns throughout childhood and young adulthood. Companies can invest in human capital; for example, through education and training, improving levels of quality and production. History Adam Smith included in his definition of Capital (economics), capital "the acquired and useful abilities of all the inhabitants or members of the society". The first use of the term "human capital" may be by Irving Fisher. An early discussion with the phrase "human capital" was from Arthur Cecil Pigou: But the term only found widespread use in economics after its popularization by economists of the Chicago School of economics, Chicago School, in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Relational Capital
Relational capital is one of the three primary components of intellectual capital, and is the value inherent in a company's relationships with its customers, vendors, and other important constituencies. It also includes knowledge, capabilities, procedures and systems which are developed from relationships with external agents. Overview Relational capital is defined as all relationships - market relationships, power relationships and cooperation - established between firms, institutions and people, which stem from a strong sense of belonging and a highly developed capacity of cooperation typical of culturally similar people and institutions. Relational dependency may be vertical or horizontal, either up or downstream, shaping different types of cooperative, collaborative or coopetitive mechanisms in different ecosystem. There are major conceptual differences between industrial and regional economists in their views towards relational capital. There have been research studies applying ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Knowledge Management
Knowledge management (KM) is the set of procedures for producing, disseminating, utilizing, and overseeing an organization's knowledge and data. It alludes to a multidisciplinary strategy that maximizes knowledge utilization to accomplish organizational goals. Courses in business administration, information systems, management, libraries, and information science are all part of knowledge management, a discipline that has been around since 1991. Information and media, computer science, public health, and public policy are some of the other disciplines that may contribute to KM research. Numerous academic institutions provide master's degrees specifically focused on knowledge management. As a component of their IT, human resource management, or business strategy departments, many large corporations, government agencies, and nonprofit organizations have resources devoted to internal knowledge management initiatives. These organizations receive KM guidance from a number of consulting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Knowledge Worker
Knowledge workers are workers whose main capital is knowledge. Examples include ICT professionals, physicians, pharmacists, architects, engineers, scientists, designers, public accountants, lawyers, librarians, archivists, editors, and academics, whose job is to "think for a living". Definition Knowledge work can be differentiated from other forms of work by its emphasis on "non-routine" problem solving that requires a combination of convergent and divergent thinking. But despite the amount of research and literature on knowledge work, there is no succinct definition of the term. Mosco and McKercher (2007) outline various viewpoints on the matter. They first point to the most narrow and defined definition of knowledge work, such as Florida's view of it as specifically, "the direct manipulation of symbols to create an original knowledge product, or to add obvious value to an existing one", which limits the definition of knowledge work to mainly creative work. They t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
