The Electronic Journal of Knowledge Management publishes original articles on topics relevant to studying, implementing, measuring and managing knowledge management and intellectual capital.

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Journal Article

How to Conduct the Audit of Intellectual Capital in Polish Tourism Business?  pp459-468

El bieta Maria Kot

© Aug 2009 Volume 7 Issue 4, ECIC 2009, Editor: Christiaan Stam, Daan Andriessen, pp397 - 534

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Abstract

Intellectual capital (IC) — defined by the values such as knowledge, skills, experience, organisational, social and cultural relations etc. — is one of the most important assets of tourism business and can be perceived as the factor having the greatest influence on the company's value. Due to the leading role of intangible assets in tourism sector, it is important to specify the IC structure and diagnose IC assets for tourism industry. The results of the diagnosis should be taken into consideration in IC management and in the decision‑making process within the organisation. The diagnosis of the IC condition is an issue which has not been the subject of any detailed research in Polish environment. The lack of specific tools as well as the real need for resolving the title problem has been the inspiration for a deeper investigation. The goal of the undertaken research was to prepare the methods of IC audit in tourism companies and to create necessary, utilitarian auditing tools. The main objective was to be achieved by performing the research tasks presented in the paper, among which the most important are: Review of the theory and different IC valuating and measuring methods (literature of the subject). Executing the initial research among experts, executives and employees of tourism market, using Individual in‑Depth Interview (IDI) and participant observation methods. Preparation of an IC audit's algorithms. Programming a software of IC audit implementation. Application of the IC audit prototype to an experimental group with the aim of eliminating any methodological and technical faults. Implementation of the IC audit in chosen Polish tourism companies. Presentation of the results (reporting). The initial research clearly indicated, that the knowledge resulting from an IC audit is useful and necessary for executives. Reporting of IC audit lets managers identify and highlight the missing or neglected elements of IC structure and recommends certain activities in management procedures, designed to enhance business performance. This paper presents the results of the research done so far, but the main goal is to implement the IC audit tool in Polish tourism companies and prove its efficiency.

 

Keywords: intellectual capital, intangible assets, IC audit, management, tourism, Poland

 

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Journal Article

Intellectual Capital of the European Union 2008: Measuring the Lisbon Strategy for Growth and Jobs  pp489-500

Christiaan Stam, Daan Andriessen

© Aug 2009 Volume 7 Issue 4, ECIC 2009, Editor: Christiaan Stam, Daan Andriessen, pp397 - 534

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Abstract

In 2004 we published the report Intellectual capital of the European Union (Andriessen & Stam, 2004). In this report we provided insight in the value of the intellectual capital of the 15 countries of the European Union, in relationship to the goals set by the European Council in March 2000. The main Lisbon goal was to become "the most competitive and knowledge‑based economy in the world" in 2010. Since our previous report, the EU grew from 15 to 27 countries and the Lisbon goals were reformulated in 2005. The aim of this paper is to measure the IC of the competitive and dynamic knowledge‑based economy, the EU decided to focus on "delivering stronger, lasting growth and creating more and better jobs" (CEC, 2005d, p.7). In this paper we translate this overall goal in 38 indicators. As the data was not available for all the new member states, we decided to limit our paper to the so‑ called EU‑19. Based on our measurements we conclude that the EU‑19 is still behind Japan and far behind the USA, however the EU is catching up as both Japan and the USA have considerably lower growth figures than the EU‑19. From an IC perspective, the EU is geographically divided. The Nordic countries are still the best performing countries. The southern European countries and the new member states stay behind. However, as the new member states invest more in their IC, it might be expected that their positions will improve in the future. Of all the new member states the Czech Republic has the best potential. The aim of our paper was to measure the progress of the Lisbon Agenda for growth and jobs. Based on our measurements we conclude that the EU‑19 is successful in terms of creating more and better jobs, but not successful in terms of delivering stronger, lasting growth. In order to further close the competitiveness gap, the EU should primarily focus on strengthening its SC and RC.

 

Keywords: Intellectual capital, intellectual capital of nations, European Union, Lisbon strategy for growth and jobs, Lisbon goals, IC monitor, measurement, multidimensional value measurement

 

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Journal Article

On the Importance of Managing Intangible Assets as Part of Corporate Strategy  pp217-224

Annie Brooking

© Jul 2010 Volume 8 Issue 2, ECIC 2010, Editor: Constantin Bratianu, pp181 - 266

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Abstract

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Keywords: intellectual capital, SMEs, IC methodology, strategic business planning

 

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Journal Article

Analysing and Enhancing IC in Business Networks: Results from a Recent Study  pp245-252

Kai Mertins, Markus Will, Cornelia Meyer

© Jul 2010 Volume 8 Issue 2, ECIC 2010, Editor: Constantin Bratianu, pp181 - 266

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Abstract

 

Keywords: intellectual capital assessment, clusters, networks, SME, IC benchmarking

 

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Journal Article

Knowledge Audit with Intellectual Capital in the Quality Management Process: An Empirical Study in an Electronics Company  pp98-116

Percy Chi Wai Chan, W.B. Lee

© Apr 2011 Volume 9 Issue 2, ICICKM 2010 special issue, Editor: W.B. Lee, pp85 - 180

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Abstract

Most of the intellectual capital (IC) assessment tools are based on a “top‑down” approach which does not explore deeply into the particular business process and the specific knowledge needs. Those IC assessment tools generally measure the intellectual capital of an organization as the return on intangible assets covering Human Capital (HC) such as staff skills, innovativeness and work experience, Structural Capital (SC) such as IT systems, documents and patents, and Relational Capital (RC) such as relationship with customers and suppliers. Traditional IC assessment tools with “IC reporting” deliverables aim at identifying useful knowledge that can create wealth for the organization in assessing the performance and value creation process. In contrary, a systematic “knowledge audit” is a process‑oriented and stock‑taking approach for evaluating the “knowledge healthiness” of an organization from the “bottom‑up”. There is potential to merge two methodologies into one integrated assessment tool to present a comprehensive IC reporting in an organization. Knowledge assets underpin the capabilities and core competencies of any organization. The importance of a knowledge audit is the first step in determining how knowledge is handled in mission critical business processes in an organization. Quality management processes are the main subsets inside an organization’s critical business processes. A knowledge audit provides an evidence based assessment of the knowledge assets within an organization, however, there is a lack of a systematic approach in the way knowledge audits are conducted. In addition, there is no standard way of measuring Intellectual Capital (IC) through a better understanding of knowledge assets that are captured from a knowledge audit. The two different streams of KM and IC are complementary and provide the cornerstones for the definition of a managerial framework to identify, assess, exploit and manage organizational knowledge. In view of the importance of the knowledge audit and the deficiencies in the standard ways of IC measurement, a structured knowledge audit approach has been applied. This paper presents an integration of knowledge audit and IC reporting approach which has been applied in a Quality Assurance (QA) Department of an electronics company, for knowledge assets stock‑taking in six specified Value Added Quality Management Processes (VAQMP). More than 74 staff, over 4 corporate functions and 5 departments in two manufacturing plants, from different work levels involving 6 quality management processes from each plant, participated in the research. 52 Participants were provided with various knowledge audit forms to complete in order to provide information about the IT tools/platforms, documents, implicit knowledge, as well as the critical industrial technologies in each VAQMP process. Quantitative and qualitative analysis was then undertaken, including stakeholder analysis and the identification of critical knowledge workers, industrial technologies, crucial documents, implicit knowledge, as well as the knowledge fountain and knowledge discovery points of the process. The outcomes and effectiveness of the knowledge audit were evaluated in both KM and IC aspects. In most Intellectual Capital assessment tools, the workflow of the business process and the specific knowledge needs are not taken into account. On the other hand, this structured knowledge audit helps to identify critical organizational knowledge that needs to be captured and transferred for the healthy operation and sustainability of the quality management processes, in order to prevent quality crises. Finally, after the consolidation of the explicit and implicit knowledge inventories, as well as constructing an IC value tree, an intellectual capital statement for the Group Quality Assurance (GQA) Department was produced.

 

Keywords: group quality assurance, intellectual capital, intellectual capital statement, IC value tree, taxonomy, value added quality management processes

 

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Journal Article

Implicit Evaluations of Intellectual Capital in Practical Decision Making  pp236-243

Albrecht Fritzsche

© Jul 2012 Volume 10 Issue 3, ECIC 2012, Editor: John Dumay, pp208 - 278

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Abstract

A lot of the confusion about the measurability of intellectual capital can be explained by a neglect of the difference between an object, the capital it provides, and the profit from the application of this capital. An analysis of this difference leads to the distinction between the potential of intellectual capital for economic process and its actual realization. Case studies from different areas of managerial practice show that decision making about intellectual capital considers it both in the mode of potentiality and actuality. However, the level to which the difference of modality is made explicit varies a lot. Talent management and network planning tend to minimize reflections about potentiality. This is possible because these reflections are an imp licit part of the preceding activities in the company that provide the basis for the decision situation. In intellectual property management, decision makers have more freedom to consider the further potential of the capital in question. In the applicatio n of different methods to evaluate intellectual capital, it therefore seems important to look for a strong consistency between the way how actuality and potentiality are taken into consideration by the structure of the business practice and the approach o f the method.

 

Keywords: theory of action, business strategies, IC management in practice, human resources, supply networks, intellectual property

 

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Journal Article

The Learning Journey of IC Missionaries: Intuition, control and value creation  pp128-136

John Dumay, Mary Adams

© Jun 2014 Volume 12 Issue 2, Special Edition for ICICKM 2013, Editor: Annie Green, pp83 - 154

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Abstract

Abstract: The utilization of intellectual capital (IC) has often not been taken up as much as the proponents of IC may have wished. As Dumay (2012) outlines, there are barriers to implementing IC in organizations, and as academics and practitioners we need to overcome these barriers. We propose one way to do this is by providing reflective narratives of the journey the authors have taken as a successful IC practitioner and a successful IC academic. Based on constructivist learning theory (Chiucchi, 2 013a) we offer a staged model of IC development (Guthrie et al., 2012) outlining how we went through similar stages in personally understanding and deploying IC. To do this, Mary Adams and John Dumay trace their IC learning journey in three stages of i ntuition, control and value creation. This paper contributes to the IC literature by providing an understanding of the growth a person may need to take in order to become an IC Missionary, rather than merely an IC preacher (Dumay, 2013, p. 8). If this c an be achieved, we can provide a forum for open conversations about the concept of IC and the tools available so we can empower people and organizations to experience and collaborate to develop their own IC.

 

Keywords: Keywords: IC missionaries, narrative, learning journey, intuition, control, value creation.

 

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Journal Article

The use of Intellectual Capital reports: The case of Italy  pp245-255

Maria Serena Chiucchi, Marco Giuliani, Stefano Marasca

© Dec 2016 Volume 14 Issue 4, Intellectual Capital at a Crossroad, Editor: Maurizio Massaro, Andrea Garlatti, pp191 - 255

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Abstract

Abstract: In the last two decades, scholars, practitioners and governments have underlined the relevance of reporting intellectual capital (IC). Analysing the evolution of IC research (Guthrie et al., 2012, Petty and Guthrie, 2000) and considering the fact that some ‘IC pioneer’ companies, like Skandia, have abandoned IC reporting, a recent stream has pointed out the need to investigate the use of IC reports ‘in practice’ (Dumay, 2013, Guthrie et al., 2012, Mouritsen, 2006) in order to understand whether IC reporting is something relevant or just a managerial “fashion” (Dumay, 2012, Mouritsen and Roslender, 2009, Fincham and Roslender, 2003). Moving from these considerations, the aim of our study is to explore if, how, and why IC reports are used by companies and if, how, and why IC measurement and reporting practices do (or do not) stabilise. In order to achieve this aim, a field study approach was adopted (Lillis and Mundy, 2005, Roslender and Hart, 2003). More specifically, the paper highlights the fact that the IC report is frequently a ‘personal business’ and discusses the determining role of some ‘key’ actors (i.e. project sponsors and project leaders) in affecting if, how, and what kind of evolution IC reports and measurements may undergo. Further, the paper sheds light on how the IC ‘lock‑in’ phenomenon may occur not only in the accounting domain but also in others. Finally, it contributes to confirming the fragility of IC indicators. Differently from the majority of extant studies, this one focuses not only on the production of IC measurements and reports or on their peculiarities, but also on their use. Moreover, it adopts a longitudinal perspective as opposed to focusing on a specific moment in time. Lastly, in order to gain a broader view of IC in practice, this paper offers insights collected from several organizations, rather than from a single case study.

 

Keywords: Intellectual Capital reports, use of IC measurements, benefits and drawbacks of IC reports, field study, Italy

 

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