ADMS 4900 Chapter Notes - Chapter 4: Tacit Knowledge, Intellectual Capital, Explicit Knowledge

• School: York University
• Department: Administrative Studies
• Course: ADMS 4900
• Professor: Kelly Thomson

Document Summary

Chapter 4 assessing the intellectual assets of the firm. The central role of intellectual capital in today"s economy. Intellectual and information processes create most of the value for firms in large service industries. Wealth created through effective management of intellectual assets and knowledge workers. Intellectual capital is described difference between a firm"s market value and book value. Intellectual capital intangible assets, such as human capital, social capital, intellectual property, brands and trademarks, which all contribute to a firm"s ability to create value through new knowledge and its useful application. ~ managing intellectual capital entails life cycle of creation, codification, valuation, protection and leveraging such assets. Human capital individual capabilities, knowledge, skills and experience of the company"s employees and managers. Social capital the network of relationships that individuals have throughout the firm. ~ also includes relationships with suppliers, customers and alliance partners. Explicit knowledge codified, documented, easily reproduced and widely distributed.