BPS 4305 Lecture Notes - Lecture 14: Intangible Property, Fee Tail, Groupthink
6 Sep 2016
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Document Summary
The central role of knowledge in today"s economy. Knowledge economy wealth is increasingly created by effective management of knowledge workers instead of by the efficient control of physical and financial assets. Intellectual capital difference between a firm"s market value and book value that is, a measure of the value of a firm"s intangible assets. Intellectual capital = market value of firm book value of the firm. Attract and leverage human capital effectively through mechanisms that create products and services of value over time. Socially complex processes like leadership, culture and trust, play central role in knowledge creation. Working environment where individuals are willing to share their ideas, work in teams. Knowledge workers are vital source of competitive advantage is changing the balance of power in today"s organizations. Attracting human capital: hire for attitude, train for skill, sound recruiting approaches and networking, attracting millennials. Developing human capital: encouraging widespread involvement, mentoring and sponsoring. How to obtain sponsorship talk about you.
