The improvement of economic business management – competitiveness growth factor

By 2000 two things have become clear. First, the roots of international competitiveness lie in the microeconomic fundamentals of an economy. Macro-economic factors play a role in creating the environment for competitiveness but are not sufficient to enhance prosperity. Second, international competitiveness results from firm level choices that produce distinctiveness, not from replicating the choices of other firms, regions or nations. Now more than ever we live in a world that moves at a bewildering speed. Innovation is an important topic in the 21st century. Innovation management has become a compulsory path to sustained enterprise growth. In today’s society, intellectual capital has replaced the more traditional meaning of the capital needed for success in business or in life. Knowledge management is now recognized as the management of the 21st century, therefore understanding knowledge management processes and factors leading to its success or failure is an important key to help managers identify and understand what is required to make knowledge management work.competitiveness; innovation; knowledge management

Formation of competitive advantages of enterprises in terms of globalization: competitive dynamics and an intellectual component

Tarasenko, O. Formation of competitive advantages of enterprises in terms of globalization: competitive dynamics and an intellectual component / O. Tarasenko, Y. Yermakov, V. Pchelin // Baltic Journal of Economic Studies. - 2017. - Vol. 3, №. 5. - P. 469-473.Tarasenko, O., Y. Yermakov, and V. Pchelin. "Formation of Competitive Advantages of Enterprises in Terms of Globalization: Competitive Dynamics and an Intellectual Component." Baltic Journal of Economic Studies 3.5 (2017): 469-473. Print.Метою статті є вивчення сучасного стану наукової думки щодо формування інтелектуального капіталу підприємства в інноваційному процесі, досягнення підприємством відповідних конкурентних переваг та їх захисту. Стаття досліджує, описує і, відповідно, формалізує сучасні процеси формування конкурентних переваг в умовах інтелектуальної економіки: управління знаннями, їх патентування, сучасне значення та вплив патентування на роль інтелектуальної власності в досліджуваних явищах, а також управління відповідними інформаційними потоками. Робота одночасно синтезує важливі аспекти управління інформаційним потоком, формування інтелектуального капіталу та захист інтелектуальної власності в процесі комерціалізації результатів інноваційної діяльності.The purpose of the article is to investigate the current state of scientific thought in relation to the formation of intellectual capital of an enterprise in the innovation process, achievement by the enterprise of corresponding competitive advantages and their protection. Methodology. The methodological basis of the article is the systematic approach, which provided a comprehensive definition of the scope of this research – intellectual property and its protection as a complex economic and legal category. This made it possible to systematically define the purpose, level of abstraction, hierarchy, forms of manifestation, and key attributes of the subject of research. Application of principles of modelling of business processes also allowed studying the influence of factors of the external environment on the sequence of information flows in the process of forming competitive advantages on the basis of intellectual property. In addition, having determined the scientific basis, the collective and local monographic studies of leading scientists concerning the specificity of the formation of competitive advantages of innovative enterprises, including on the basis of intellectual capital, were also taken into account. Results. The article studies, describes and, correspondingly, formalizes modern processes of formation of competitive advantages in the conditions of Smart Economy: knowledge management, their patenting, modern significance, and the influence of patenting on the role of intellectual property in the investigated phenomena, as well as management of relevant information flows. Practical implications. The research demonstrates ways of forming competitive advantages in the modern economy, and the results of the analysis of relevant statistics explain patterns of economic and legal processes in the field of relevant practical activities. This allows assessing the actual state of the subject of the research, determining the development trajectory, and effectively forming methods and tools for managing the relevant processes. Value/originality. The proposed approach allows ensuring the principle of unity in the research of economic and legal processes in the field of innovation activity management. The work simultaneously synthesizes important aspects of information flow management, intellectual capital formation, and intellectual property protection in the process of commercialization of results of innovation activities.Целью статьи является изучение современного состояния научной мысли по формированию интеллектуального капитала предприятия в инновационном процессе, достижения предприятием соответствующих конкурентных преимуществ и их защиты. Статья исследует, описывает и, соответственно, формализует современные процессы формирования конкурентных преимуществ в условиях интеллектуальной экономики: управление знаниями, их патентования, современное значение и влияние патентования на роль интеллектуальной собственности в изучаемых явлениях, а также управление соответствующими информационными потоками. Работа одновременно синтезирует важные аспекты управления информационным потоком, формирование интеллектуального капитала и защиту интеллектуальной собственности в процессе коммерциализации результатов инновационной деятельности

Effective Knowledge Management (KM) strategy within a business organization

A cohesive Knowledge Management (KM) strategy is found at the cornerstone of every successful business enterprise\u27s overall business strategy. The full benefit of this strategy can only be achieved through a dynamic, technology-enabled framework that encourages best and better practices to capture the outputs of human innovation and creative knowledge. Competitive pressures and technological convergence, most prevalent in high technology business sectors, have demonstrated the critical need for an information strategy that can harness and discern the continual amass of intellectual property. The continual accumulation of information and knowledge critical to the sustained viability of many business organizations, presents significant and complex management challenges. The dynamic changes in economic conditions and technical innovation and advance, coupled with the need to manage the outputs of human innovation and creative capacity, continues to present a paradigm shift from the traditional management approaches to more adaptive, dynamic, non-traditional management approaches and technology solutions. A major KM challenge many organizations continue to face is no longer just how to capture and manage their intellectual property, but how to identify and discern between true intellectual content and simple information, the real knowledge of their business. A successful KM strategy becomes synonymous with the overall business strategy, and includes the requirement for a process model that provides a framework that can be adapted to an ever-changing business model. This framework must provide the ability to identify and discern between static data or information and dynamic intellectual property, which the latter is often the direct output of human creativity and innovation.1 Accordingly, one important aspect of KM as a practice is the development of knowledge transfer systems. However, the one-size-fits-all approach to the technical solution is only part of the success equation.2 The other critical element in the equation is the approach to integrate it into the related business process framework. The means of specific process improvement may vary based on business requirements and scope of technical solution, but the underlying basis of need for change or improvement remains a constant. A foundational framework for business process strategy and execution takes on much greater significance as part of the overall business strategy. Thomas A. Stewart, a member of the board of editors at Fortune Magazine, says Because knowledge has become the single most important factor of production, managing intellectual assets has become the single most important task of business. This paper will focus on the discipline of knowledge management and associated knowledge transfer practices in a pragmatic context to illustrate its importance as an integral component of a successful business strategy. This includes the perspectives of both as strategic asset in the management of intellectual capital, and as an enabling technology to leverage the intellectual capital for business fulfillment. The assertions and discussions put forth, while centered on knowledge management, can be paralleled for several IT-centric business disciplines. However, the analysis of the research and case studies referenced in this paper will illustrate the growing breadth and importance of knowledge assets as the primary cornerstone in a broad spectrum of business disciplines. More importantly, it will clearly demonstrate the critical need to effectively manage and control knowledge assets for competitive advantage as part of the overall business strategy. 1 Yogesh Malhotra, Knowledge Management for E-business Performance: Advancing Information Strategy to Internet Time ; Information Strategy, The Executive\u27s Journal. Summer 2000, vol. 16 (4), pp. 5-16 2 James Conlan, Improving Business Processes , KMWorld, November/December 2001, pp. S13

ОСОБЛИВОСТІ УПРАВЛІННЯ ІНТЕЛЕКТУВАЛЬНИМ КАПІТАЛОМ В СФЕРІ ЗЕМЕЛЬНИХ ВІДНОСИН

The article notes that the growing challenges of pandemics, the negative impact of changes in the environment increases the impact of limited traditional resources and raises issues of sustainable development of Ukrainian agricultural enterprises through the spread of digitalization, greening and compliance with corporate social responsibility. The application of the outlined ways of modernization of agricultural production processes involves the spread of the practice of formation and use of intellectual capital in the field of land relations.Research has shown that any existing economic schools from the same position approach the rationale for the postulate that information, knowledge, intellectual resources are becoming one of the main ways to achieve high socio-economic results at both micro and macro levels.Research of intellectual capital in the field of land relations has its own characteristics of the factors that affect its development and management. First of all, it is the seasonality of production, natural and climatic conditions, low level of introduction of modern technologies in agricultural production, not high solvent demand of peasants and so on.Thus, intellectual capital in the field of land relations should be understood as capital, which is formed by intellectual resources of agriculture, as well as natural and economic potential of territories and regions, which in the process of interaction form a new value.The main components of the intellectual capital of an agricultural enterprise include human capital, structural (organizational) and consumer.For most agricultural enterprises, the lack of intellectual resources is an obstacle to the development of innovation. For an entity that invests its time, money and energy in business, intellectual capital is very important. An enterprise that does not use the intellectual knowledge of its staff will not be interested in success and innovation. One of the reasons why entrepreneurs do not use intellectual capital is that they do not see a promising return from the use of mental energy in the form of profits on invested capital.Within the agricultural complex, intellectual products represent the implementation of the results of experiments, research and development in the form of new varieties of agricultural plants, breeds and species of animals and birds, food, materials, livestock and crop technologies, fertilizers and plant and animal protection products, treatments animals and birds, lending and financing of agricultural production, ways of training, retraining and advanced training of labor personnel, forms of organization and management of various sectors of the economy, approaches to improving the efficiency of agricultural production in general.Regarding the peculiarities of management and development of intellectual property in the field of land relations, it should be noted that they are grouped into the following components: economic, regulatory and organizational.The article substantiates the tasks of future development of Ukrainian agrarian business.У статті розглянуто особливості управління інтелектуальним капіталом в сфері земельних відносин. Виокремлено основні складові інтелектуального капіталу сільськогосподарського підприємства. Обґрунтовано завдання майбутнього розвитку українського аграрного бізнесу

Strategic management of intellectual capital of the enterprise in the framework of informatization of the economy

In the course of the research, one has determined the scientific and theoretical approaches, related to the identification of the directions and tools needed to improve strategic management; one also provided the main directions of the intellectual capital formation and development within the enterprise, which include the state of the capital at the present stage and the requirements to it from the future knowledge economy: the introduction of human capital into the assets of the enterprise, the promotion of the creative activity of the employees of the enterprise by using factors of human and social capital activation, as well as the establishment of an accounting system and evaluation of intangible assets. We have highlighted a range of specific principles of the intellectual capital management at the enterprise: the establishment of a partnership between all participants of the production process within the enterprise, namely, its owners, managers, and employees; the determination of criteria for assessing the contribution of every employee into the final result of the enterprise activity; the arrangement of an integrated network of the workers’ mass participation to identify the potential reserves, improve the production efficiency, and the product quality; the development of measures upon the principles’ implementation; and the primary task orientation of management on the future competition. One formulated the scientific and methodological foundations regarding the development of measures, aimed to improve the management of the intellectual capital of an enterprise, which include a sequence, the procedure of determination, the justification, the evaluation of the appropriateness of particular measures, the involvement of a wide range of workers in their development via the methods of interrogation and questionin

ASPECTS OF THE INTELLECTUAL CAPITAL OF THE COMPANY IN THE INFORMATION TECHNOLOGY ERA

In nowadays economy the dynamic of the company relies on knowledge and the way it is put to work both by the management and operational personnel. Technological advances, mostly the information technology brings a new environment that foster the intellectual assets of the company. The understanding of the subject, its importance, and the ways the intellectual capital is sustained by technological and informational means are definitely matters that allow the company to succeed or to make it lose in the global competitionintellectual capital, information and communication technologies, process management, measuring indicators

Innovation dynamics and the role of infrastructure

This report shows how the role of the infrastructure – standards, measurement, accreditation, design and intellectual property – can be integrated into a quantitative model of the innovation system and used to help explain levels and changes in labour productivity and growth in turnover and employment. The summary focuses on the new results from the project, set out in more detail in Sections 5 and 6. The first two sections of the report provide contextual material on the UK innovation system, the nature and content of the infrastructure knowledge and the institutions that provide it. Mixed modes of innovation, the typology of innovation practices developed and applied here, is constituted of six mixed modes, derived from many variables taken from the UK Innovation Survey. These are: Investing in intangibles Technology with IP innovating Using codified knowledge Wider (managerial) innovating Market-led innovating External process modernising. The composition of the innovation modes, and the approach used to compute them, is set out in more detail in Section 4. Modes can be thought of as the underlying process of innovation, a bundle of activities undertaken jointly by firms, and whose working out generates well known indicators such as new product innovations, R&D spending and accessing external information, that are the partial indicators gathered from the innovation survey itself

A path model “why-what-how-when” to Implement an IC reporting

The purpose of this paper is to present the results of an empirical study and the critical success factors for implementing Intellectual Capital (IC) reporting. Selecting an IC model to be implemented in a specific context at a particular time depends on several contingent factors. In light of this, we propose the following “why-what-how-when” agenda, which will be applied in the case study: 1. Why implement IC reporting in a specific context? 2. What IC approach/tool is suitable to satisfy users’ informational needs? 3. How is the quality of information? 4. When is information available? The research is qualitative and focused on a case study in order to understand the dynamics of a given process. The company analyzed designs and develops Large Systems for Homeland Protection. The analyzed case study shows that there isn’t “one best way” to report on intangibles. Thus, the main critical factors of the process investigated are the following: accurate identification of actors involved in the decision-making process; quality and availability of information. The case study allows us to analyze how changes in decision maker(s), users’ informational needs and information quality can impact the selection of the framework and its relative artifact/tool to be used to report on intangibles

Harnessing Creativity and Innovation in the Workplace

{Excerpt} Creativity plays acritical role in the innovation process, and innovation that markets value is a creator and sustainer of performance and change. In organizations, stimulants and obstacles to creativity drive or impede enterprise. Creativity has always been at the heart of human endeavor. Allied to innovation, which creates unexpected value, it is now recognized as central to organizational performance. (Some hold that the capacity to harness intellectual and social capital—and to convert that into novel and appropriate things—has become the critical organizational requirement of the age.) The shift to knowledge economies has been abrupt and there is a flurry of interest in creativity and innovation in the workplace. Innovation is considered, quite simply, an imperative for organizational survival. It may even be the key to some of the biggest challenges facing the world, such as global warming and sustainable development. Notwithstanding, we are still far from a theory of organizational creativity: the avenues for promising research that might contribute to its emergence are innumerable because of the increasing use of systems approaches and the growing number of agents involved in knowledge flows

Institutional environment, innovative entrepreneurial entry and venture capital financing

We analyse the determinants of high growth expectations entrepreneurial entry (HGE) using individual data drawn on working age population, based on the Global Entrepreneurship Monitor (GEM) surveys for the 1998-2004 period. Individual level explanatory variables are combined with country-level factors. Our results suggest that availability of venture capital and intellectual proper rights protection are strong predictors of HGE. In addition, we also find that innovative start-ups are associated with highest growth expectations in countries with extensive supply of venture capital and strongest intellectual property rights. Once we introduce venture capital, we detect no significant effects of other elements of financial systems on high-powered entry