Strategic Analysis: Recognizing A Firm's Intellectual Assets

Strategic Analysis
Recognizing a Firm’s Intellectual

Assets
• Central Role of Knowledge in Today’s
Economy
• Human Capital
Outline • Vital Role of Social Capital
• Using Technology to Leverage Human
Capital
• Protecting the Intellectual Assets of
the Organization
• Central Role of Knowledge
in Today’s Economy
an economy where wealth is created
through the effective management of
Knowledge
economy knowledge workers instead of by the
efficient control of physical and
financial assets.
the difference between the market value of the firm
and the book value of the firm, including assets
Intellectual such as reputation, employee loyalty and
Capital commitment, customer relationships, company
values, brand names, and the experience and skills
of employees.
general answer: to attract and leverage human
How do capital effectively through mechanisms that create
companies products and services of value over time
create value in 1) human capital
the 2) Social capital
knowledge-int 3) Knowledge
ensive 1) Explicit
2) Tacit
economy?
• Human Capital: The
Foundation of Intellectual
Capital
Three
Interdependent
Activities
Gregory G. Dess, G. M.-H. (2019). Strategic Management text and cases. New York: McGraw-Hill Education.
Human resource professionals often approach
employee selection from a “lock and key”
mentality—that is, fit a key (a job candidate) into a
lock (the job). Such an approach involves a
Attracting thorough analysis of the person and the job.
Human
Capital •“Hire for Attitude, Train for Skill”
•Sound Recruiting Approaches and Networking
•Attracting Millennials
Developing training and development must take place
Human at all levels of the organization
Capital
Retaining organization can either try to force
employees to stay in the firm or try to keep
Human them from jumping out by creating
Capital incentives.
• The Vital Role of Social
Capital
●The importance of social ties among talented
professionals creates a significant challenge (and
How Social opportunity) for organizations.
Capital Helps
Attract and ●The trend is to recruit job candidates at the crux of
Retain Talent social relationships in organizations, particularly if
they are seen as having the potential to bring with
them valuable colleagues
Social ●Leading a successful company is more than a
Networks: one-person job.
Implications ●The move away from top-down bureaucratic
control to more open, decentralized network
for models makes it more difficult for managers to
Knowledge understand how work is actually getting done,
Management who is interacting with whom both within and
outside the organization, and the consequences of
and Career these interactions for the long-term health of the
Success organization.
Using Technology to Leverage
Human Capital
And Knowledge
Using
Technology can also enable much more
Networks to
sophisticated forms of communication in
Share addition to knowledge sharing.
Information
Electronic
Teams: Using ●Technology enables professionals to work
as part of electronic, or virtual, teams to
Technology to enhance the speed and effectiveness with
Enhance which products are developed.
Collaboration
● Explicit (or codified) knowledge
Codifying
- knowledge that can be documented, widely distributed,
Knowledge and easily replicated
for - One of the challenges of knowledge-intensive
Competitive organizations is to capture and codify the knowledge
and experience that, in effect, resides in the heads of its
Advantage employees.
Protecting the Intellectual Assets
of the Organization: Intellectual
Property and Dynamic
Capabilities
Intellectual
intangible property owned by a firm in the forms of
Property patents, copyrights, trademarks, or trade secrets
Rights
-a firm’s capacity to build and protect a
competitive advantage, which rests on knowledge,
assets, competencies, complementary assets, and
Dynamic technologies
Capabilities -Dynamic capabilities include the ability to sense
and seize new opportunities, generate new
knowledge, and reconfigure existing assets and
capabilities
End of Lesson 1.4
Gregory G. Dess, G. M.-H. (2019). Strategic Management text and

cases. New York: McGraw-Hill Education.

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Strategic Analysis

Recognizing a Firm’s Intellectual

Gregory G. Dess, G. M.-H. (2019). Strategic Management text and

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