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: | Will Markus, Mertins Kai |
Keywords: | rapid prototyping, small and medium enterprise |
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.