Developing Intellectual Capital in Professional Service Firms Using High Performance Work Practices as Toolkit

The role of Professional Service Firms (PSFs) has always been crucial in the development of knowledge economies. The effectiveness of these firms is highly attributed to the knowledge capabilities and skills embedded in its human resources and how effectively these resources are utilized in the optimal benefit of the firm. Owing to the ever-increasing growth of the services sector globally, it’s critical for the PSFs to gain in-depth awareness on the application of High-Performance-Work-Practices (HPWPs) so as to continually maintain quality of their services to the clients. However, the mechanism for systematically managing and implementing these practices in intellectual capital context is still not fully developed. This research, therefore, theoretically investigates and suggests a linkage mechanism on how Strategic HR practices (HPWPs) via (Ability, Motivation and Opportunity)-enhancing bundles stimulate intellectual capital development in professional service firms. By presenting a conceptual framework, this study offers practically meaningful insights to the managers in the service firms on how to implement these practices for effectively meeting client needs and sustaining a competitive advantage

Importance of tacit knowledge towards company performance and its relevance to construction

Valuable human and knowledge resources will be wasted unless organisations make better use of these prime resources. Tacit knowledge in particular is still considered to be relatively unexplored and proper understanding and management of this resource is of immense importance for better organisational performance. The research addresses the importance of people factor and tacit knowledge in construction and examines the contribution towards the company performance and achievement of competitive advantage through a thorough literature review. Principle insights of dominant views on organisational resources are discussed to highlight the strategic nature of tacit knowledge. Labour and knowledge intensive nature of the construction industry is revealed and finally the importance and the significant role of people factor and tacit knowledge in construction are highlighted. This provides the basis for more empirical research on finding importance of tacit knowledge towards organisational performance in the construction industry

From Quantity to Quality: Challenges for Investment Promotion Agencies

Most investment promotion agencies worldwide are now placing a higher emphasis on attracting high "quality" FDI, including R&D centers and headquarter functions as well as knowledgeintensive industries such as information and communication technologies, biotechnology or nanotechnology. We argue that this requires a different approach than policies focused on the "quantity" of FDI inflows, leading to changes in the policy mix and in the approach to performance measurement. Targeting quality entails a shift from a mindset that prioritizes attraction of greenfield investments towards one where the focus is on subsidiary development. Another implication is that the interplay between FDI policies and innovation policies becomes more relevant and needs to be further nurtured. We focus on the management challenges that investment promotion agencies face in this transition from quantity to quality, drawing attention to the consequences for their human capital, structural capital and relational capital strategies.Aftercare, FDI, intellectual capital, investment promotion, R&D, subsidiary development

Managerial ambidexterity and the cultural toolkit in project delivery

Research has established that ambidextrous organizations can successfully outperform their non-ambidextrous counterparts through exploitative and exploratory activities. However, there remains a scarcity of research on how managers orchestrate ambidexterity at the operational level, particularly in project delivery. Drawing on 55 qualitative interviews with middle managers on two engineering projects, we examine how managerial ambidexterity is enacted at the project level. We find that middle managers enable their own exploitative, exploratory and ambidextrous behaviors by invoking a repertoire of values selected from their organization's cultural toolkit, which serve as cultural resources for action. We discuss how the cultural toolkit perspective can inform the relationship between managerial actions in day-to-day operations and organizational ambidexterity. Implications for theory and practice are presented

Managing knowledge transfer partnership for a rural community: the outcomes at Wirksworth, UK

Purpose – This paper aims to propose a knowledge transfer partnership (KTP) model, using higher education (HE) students researching in the UK. It is focused on community engagement via charitable trusts, New Opportunities Wirksworth (NOW) & Ecclesbourne Valley Rail (EVR). The researchers designed and implemented a pilot study that explored the potential of a small, yet attractive and active, market town to diversify and regenerate using tourism. This project, which has been funded by the UK Higher Education Innovation Fund (HEIF), has been devised to operate and monitor a KTP in the culturally important heritage market town of Wirksworth, in Derbyshire. Design/methodology/approach – A systems-thinking constructivist approach is used and employs problem-based learning (PBL) through engagement of students in research and data collection. The authors identified that skills for sustainable development within the community are dependent on the reintegration of complex, inter-dependent and inter-disciplinary factors. A holistic approach to the learning and knowledge shared within the community underpins UK initiatives to promote capacity development in ways to change knowledge applications across product and service boundaries. Therefore, in addition to encouraging diversification and regeneration through tourism, this project supported the University of Derby's academic agenda to promote experiential and entrepreneurial learning in students working at both undergraduate and postgraduate levels. This paper accords with the current university initiatives to meet the student employability agenda through the application of PBL and knowledge management. Findings – The creation of outcomes and recommendations for Wirksworth's stakeholders provides sustainability through the knowledge creation and sharing processes. There are seven outcomes that chart a path to development and knowledge transfer (KT) and sharing. The authors simultaneously provided an environment for students to gain skills and a community to acquire new knowledge, and these are the outcomes and output of this project. New learning styles may support inclusive academic practice (see related samples of PBL such as Ineson and Beresford in HLST resources 2001). Implications for building a KT community through the social capital accumulated in the project are explored. Originality/value – In taking PBL from the classroom to the community, the authors have created a new KT environment in which skills can be acquired and a regeneration strategy can be tested in a work-or-practice-related setting. Students recognise that they are building learning for themselves that is unique in that it cannot be recreated in a classroom setting. The authors see this project developing into a robust long-term partnership between communities and institutions with KT benefits to teaching staff in addition to students. These benefits will include new skills for PBL, working collaboratively with partners in the community to develop key skills in HE students, innovation in assessment, inclusive learning and teaching, experiential and entrepreneurial learning in practice

Do High Performance Work Systems Pay for Small Firms? An Intellectual Capital Building Perspective

Prior research suggests that small firms often struggle with human resource management, and limited research indicates that high performance work systems may assist firms in boosting their level of performance via the construction of intellectual resources for the firm. However, exploration of these phenomena in the small firm context is limited. We examine the mediating role of intellectual capital on the relationship between HPWS implementation levels and firm performance and find that a mediating impact is present for sales growth, profit growth, and perceived performance. Results suggest that HPWS implementation enhances small firm performance via intellectual capital building