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The management of intellectual capital is conceptualised as occurring via a multiple stage process, governed by an evolutionary logic. The intellectual capital management is defined as a cycle of four inter-related sets of practices: Strategic Alignment, Exploration and Exploitation, Measurement and Reporting of intellectual capitals. [4]
The management of intellectual capital is conceptualised as occurring via a multiple stage process, governed by an evolutionary logic. Intellectual capital management is defined as a cycle of four inter-related sets of practices: strategic alignment, exploration and exploitation, measurement, and reporting of intellectual capital. [6]
Instead, process capital has usually been hidden in the measurement of IT investment or organisational intellectual capital as an intangible element of organisational assets. [9] Failure to treat process capital as a separate and unique management issue is widespread among both businesses and researchers because most of the systems and ...
Process capital [5] includes the techniques, procedures, and programs that implement and enhance the delivery of goods and services. Innovation capital [6] includes intellectual property and certain other intangible assets. Intellectual property includes protected commercial rights such as patents, copyrights and trademarks.
It helps convert tacit form of knowledge into an explicit form. It is a complex process which aims to reduce the knowledge loss in the organization. [67] Knowledge retention is needed when expert knowledge workers leave the organization after a long career. [68] Retaining knowledge prevents losing intellectual capital. [69]
In corporate management, human capital is one of the three primary components of intellectual capital (which, in addition to tangible assets, comprise the entire value of a company). Human capital is the value that the employees of a business provide through the application of skills, know-how and expertise. [43]
While it can be difficult to measure, this increases the overall value of its intellectual capital. In cases where the knowledge assets have commercial or monetary value, companies may create patents around their assets, at which point the material becomes restricted intellectual property. In these knowledge-intensive situations, knowledge ...
Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastructure, buildings or equipment) and to intangible assets (such as intellectual property, goodwill or financial assets).