MGT 409 Lecture Notes - Lecture 4: Tacit Knowledge, List Of Members Of The Avn Hall Of Fame, Explicit Knowledge
Document Summary
Knowledge-based labor now makes up over 50% of the gdp in industrialized countries. Assets such as brand names, company reputation, customer relationships, and employee ability and commitment are key to wealth/value generation. All of these things require the possession and use of intellectual assets. Intangible assets: a firm like gm or southwest is mostly invested in equipment and facilities; there isn"t much that is going to be intangible about their values. On the other hand, google is still worth a lot more than its book value . An economy where wealth is created through the effective management of knowledge workers instead of by the efficient control of physical and financial assets. Difference between the market value of the firm and the book value of the firm. Includes reputation, employee loyalty, commitment, customer relationship, company values, brand names. Human capital (individual capabilities, knowledge, skills, and experience of the o.
