Intellectual capital and technology strategy

T.S. Durrani, S.M. Forbes

Research output: Contribution to conferencePaper

4 Citations (Scopus)

Abstract

In the new economy, exploiting the traditional factors of production is no longer sufficient. The key to success is huge investment flows into human capital as well as information technology and, stunningly, neither of these appear as positive values in traditional accounting. Rather, it is often just the opposite. Consequently, knowledge-based companies are undervalued by traditional accounting methods, sometimes this is by a relatively small percentage, but Market:book ratios are more commonly in single figures, however there is enough here to suggest that focusing too intently on financial data might be missing the point. This is the reason for the popularity of new concepts such as Intellectual Capital and the Balanced Scorecard. This paper reviews current issues concerned with Intellectual Capital as an essential ingredient of the knowledge economy, and through illustration, embeds these issues into a strategic framework that takes into account both tangible and intellectual assets in formulating a Technology Strategy for hi-tech companies.

LanguageEnglish
Pages151-155
Number of pages5
Publication statusPublished - Nov 2003
EventEngineering Management Conference, 2003. IEMC '03. - , United Kingdom
Duration: 2 Nov 20034 Nov 2003

Conference

ConferenceEngineering Management Conference, 2003. IEMC '03.
CountryUnited Kingdom
Period2/11/034/11/03

Fingerprint

Technology strategy
Intellectual capital
Knowledge-based
Balanced score card
Knowledge economy
New economy
Human capital
Strategic framework
Factors of production
Financial data
Intellectual assets

Keywords

  • economic indicators
  • time measurement
  • reflection
  • production
  • large-scale systems
  • knowledge management
  • investments
  • intellectual property
  • information technology
  • humans
  • intellectual capital
  • technology strategy

Cite this

Durrani, T. S., & Forbes, S. M. (2003). Intellectual capital and technology strategy. 151-155. Paper presented at Engineering Management Conference, 2003. IEMC '03. , United Kingdom.
Durrani, T.S. ; Forbes, S.M. / Intellectual capital and technology strategy. Paper presented at Engineering Management Conference, 2003. IEMC '03. , United Kingdom.5 p.
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Durrani, TS & Forbes, SM 2003, 'Intellectual capital and technology strategy' Paper presented at Engineering Management Conference, 2003. IEMC '03. , United Kingdom, 2/11/03 - 4/11/03, pp. 151-155.

Intellectual capital and technology strategy. / Durrani, T.S.; Forbes, S.M.

2003. 151-155 Paper presented at Engineering Management Conference, 2003. IEMC '03. , United Kingdom.

Research output: Contribution to conferencePaper

TY - CONF

T1 - Intellectual capital and technology strategy

AU - Durrani, T.S.

AU - Forbes, S.M.

PY - 2003/11

Y1 - 2003/11

N2 - In the new economy, exploiting the traditional factors of production is no longer sufficient. The key to success is huge investment flows into human capital as well as information technology and, stunningly, neither of these appear as positive values in traditional accounting. Rather, it is often just the opposite. Consequently, knowledge-based companies are undervalued by traditional accounting methods, sometimes this is by a relatively small percentage, but Market:book ratios are more commonly in single figures, however there is enough here to suggest that focusing too intently on financial data might be missing the point. This is the reason for the popularity of new concepts such as Intellectual Capital and the Balanced Scorecard. This paper reviews current issues concerned with Intellectual Capital as an essential ingredient of the knowledge economy, and through illustration, embeds these issues into a strategic framework that takes into account both tangible and intellectual assets in formulating a Technology Strategy for hi-tech companies.

AB - In the new economy, exploiting the traditional factors of production is no longer sufficient. The key to success is huge investment flows into human capital as well as information technology and, stunningly, neither of these appear as positive values in traditional accounting. Rather, it is often just the opposite. Consequently, knowledge-based companies are undervalued by traditional accounting methods, sometimes this is by a relatively small percentage, but Market:book ratios are more commonly in single figures, however there is enough here to suggest that focusing too intently on financial data might be missing the point. This is the reason for the popularity of new concepts such as Intellectual Capital and the Balanced Scorecard. This paper reviews current issues concerned with Intellectual Capital as an essential ingredient of the knowledge economy, and through illustration, embeds these issues into a strategic framework that takes into account both tangible and intellectual assets in formulating a Technology Strategy for hi-tech companies.

KW - economic indicators

KW - time measurement

KW - reflection

KW - production

KW - large-scale systems

KW - knowledge management

KW - investments

KW - intellectual property

KW - information technology

KW - humans

KW - intellectual capital

KW - technology strategy

M3 - Paper

SP - 151

EP - 155

ER -

Durrani TS, Forbes SM. Intellectual capital and technology strategy. 2003. Paper presented at Engineering Management Conference, 2003. IEMC '03. , United Kingdom.