Strategy development based on intangibles in SMEs – an integrated approach

Strategy development based on intangibles in SMEs – an integrated approach

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Article ID: iaor20133726
Volume: 11
Issue: 2
Start Page Number: 175
End Page Number: 183
Publication Date: May 2013
Journal: Knowledge Management Research & Practice
Authors: ,
Keywords: rapid prototyping, small and medium enterprise
Abstract:

The approach in this paper is based on the principles of action research and rapid prototyping. The paper shows the current status of a ‘bottom‐up’ research process dedicated to continuously developing and improving management instruments that suit the requirements of small and medium‐sized enterprises (SMEs): pragmatic, easy‐to‐use and generating direct practical benefit. As a result, this paper links the concept of intangibles to the practical strategy development process in SMEs. The integration shown concerns several challenges: (1) Integrate the internal and external perspective on intangibles, and, by that, link the concept of intellectual capital (IC) as a resource‐based view with the concept of customer value as a market‐based view. (2) Integrate the theoretical concept of IC with a methodology for comprehensive strategy development. (3) Integrate the formulation and implementation of business strategies taking into account the actual practice in SMEs.

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