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Proceedings of the 8th International Conference on Intellectual ...

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Helen Mitchell and Dennis Viehland<br />

manage intellectual capital would enhance innovati<strong>on</strong> activity and promote even greater success. The<br />

developing <str<strong>on</strong>g>of</str<strong>on</strong>g> a plan for managing intellectual capital would be a positive move and provide <str<strong>on</strong>g>the</str<strong>on</strong>g><br />

opportunity to identify where key knowledge resided that would be beneficial for <str<strong>on</strong>g>the</str<strong>on</strong>g> development <str<strong>on</strong>g>of</str<strong>on</strong>g><br />

future innovati<strong>on</strong>s. With <str<strong>on</strong>g>the</str<strong>on</strong>g> str<strong>on</strong>g focus <strong>on</strong> increasing organisati<strong>on</strong>al value through <str<strong>on</strong>g>the</str<strong>on</strong>g> development<br />

<str<strong>on</strong>g>of</str<strong>on</strong>g> innovati<strong>on</strong>s, al<strong>on</strong>g with <str<strong>on</strong>g>the</str<strong>on</strong>g> need to maintain a competitive advantage, it was acknowledged that<br />

managing intellectual capital was essential.<br />

Although a number <str<strong>on</strong>g>of</str<strong>on</strong>g> <str<strong>on</strong>g>the</str<strong>on</strong>g> business units were already working al<strong>on</strong>gside academic institutes in<br />

certain areas <str<strong>on</strong>g>of</str<strong>on</strong>g> research, it was felt by <str<strong>on</strong>g>the</str<strong>on</strong>g> chief executives that working more closely with <str<strong>on</strong>g>the</str<strong>on</strong>g>m<br />

would be beneficial to <str<strong>on</strong>g>the</str<strong>on</strong>g>ir business particularly in assisting with <str<strong>on</strong>g>the</str<strong>on</strong>g> developing <str<strong>on</strong>g>of</str<strong>on</strong>g> a strategy for<br />

managing intellectual capital. With this approach <str<strong>on</strong>g>the</str<strong>on</strong>g>re is benefit not <strong>on</strong>ly for organisati<strong>on</strong>s but also for<br />

practiti<strong>on</strong>ers who gain from <str<strong>on</strong>g>the</str<strong>on</strong>g> opportunity to work closely with businesses.<br />

A limitati<strong>on</strong> <str<strong>on</strong>g>of</str<strong>on</strong>g> <str<strong>on</strong>g>the</str<strong>on</strong>g> research is that <strong>on</strong>ly <strong>on</strong>e organisati<strong>on</strong> was involved albeit <strong>on</strong>e that had divided into<br />

business units set up as limited liability companies. However, <str<strong>on</strong>g>the</str<strong>on</strong>g> study has revealed that <str<strong>on</strong>g>the</str<strong>on</strong>g>re is a<br />

need to enquire fur<str<strong>on</strong>g>the</str<strong>on</strong>g>r into determining whe<str<strong>on</strong>g>the</str<strong>on</strong>g>r organisati<strong>on</strong>s recognise <str<strong>on</strong>g>the</str<strong>on</strong>g> importance <str<strong>on</strong>g>of</str<strong>on</strong>g><br />

intellectual capital as <str<strong>on</strong>g>the</str<strong>on</strong>g> key to innovati<strong>on</strong> and is <str<strong>on</strong>g>the</str<strong>on</strong>g> means through which wealth is generated.<br />

Fur<str<strong>on</strong>g>the</str<strong>on</strong>g>r research opportunities point to <str<strong>on</strong>g>the</str<strong>on</strong>g> need to examine <str<strong>on</strong>g>the</str<strong>on</strong>g> relevance <str<strong>on</strong>g>of</str<strong>on</strong>g> existing management<br />

skill sets to determine <str<strong>on</strong>g>the</str<strong>on</strong>g>ir fit with <str<strong>on</strong>g>the</str<strong>on</strong>g> skills required to manage intellectual capital. There is a need to<br />

investigate approaches to be taken to encourage codificati<strong>on</strong> <str<strong>on</strong>g>of</str<strong>on</strong>g> knowledge, to compare innovati<strong>on</strong><br />

activity in small and large organisati<strong>on</strong>s, and to more effectively manage intellectual property.<br />

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