By José Maria Viedma Marti, Maria do Rosario Cabrita
Offers readers with a entire review of the way to accomplish entrepreneurial excellence within the wisdom financial system and provides them ICBS - a technique for method check-up of businesses within the wisdom financial system context.
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Additional info for Entrepreneurial Excellence in the Knowledge Economy: Intellectual Capital Benchmarking Systems
Example text
The ascendance of intangibles over tangibles is reflected in firms’ valuation ratios. This trend represents not only a revolutionary change in the process of economic value creation, but also a sharp decline in the value relevance of traditional financial measures. The lack of agreed methods for valuing intangible assets has been a major deficiency in current accounting The Knowledge Economy 27 systems. This deficiency undoubtedly has serious economic effects, for example in capital markets and in valuation of knowledge.
A number of statistical indicators, fuzzy concepts, questionable methods and different perspectives are included under the KE umbrella. Rather than trying to adapt existing concepts to new situations, we feel that we should aspire to understand a large range The Knowledge Economy 13 of interrelated topics that are emerging as we move toward the KE. As Bertels and Savage (1998) alerted us, despite the fact that we are facing a major transition from the industrial to the knowledge age, industry and agriculture will not die.
The chapter finishes with an attempt to formulate a comprehensive theory of intellectual capital, or, in other words, a comprehensive theory of wealth creation from knowledge and other intangibles. Chapter 3. The practice of entrepreneurial excellence in the knowledge economy This chapter considers the different models and methodologies that help organizations to achieve entrepreneurial excellence in the practical contexts of the knowledge economy. 2 Book navigation map. 7-SCBS Introduction 7 the chapter concentrates on the strategy focused models that fall into the two following categories: a) strategy formulation models which do not break intellectual capital down into its constituent parts, and; b) strategy implementation models that do break intellectual capital down into its constituent parts.