Saturday, September 25, 2010

HMIC 5503: Managing Intellectual Capital

Through this course, I acquired a thorough understanding of the idea of knowledge-based economy, intellectual capital, intellectual property rights and gaining competitive advantage through learning and knowledge creation. By now, I fully appreciate their importance and my understanding of these concepts and their importance is presented through artifact 1 and artifact 2. I further realized that the way to prosperity in today’s competitive world is to make learning and knowledge creation the core businesses of an organization. Knowledge and intellectual capital yield long-term competitive advantage and thus should be harnessed. In this regard the characteristics and requirements of knowledge workers have to be acknowledged; which is reflected through artifact 3 .

I deeply gained insight into how knowledge-based economy is significantly more important than the resource-based view of economy; and recognized further that even the technological advancements are backed by knowledge. Thus, organizations should invest in intellectual property and gain completive advantage which now resides in the intangible assets. Along with this, artifact 4 and artifact 5 embody my deep comprehension of the importance, nature and facilitation of on-going organizational learning, how it should be planned and implemented; as well as enabling knowledge sharing which has a synergic effect. Moreover, artifact 6 presents my analysis of an industry case. Based on the work of this course, coupled with my prior training in this field during my MBA I am now fully capable of designing strategies for knowledge sharing among the work force, organizational learning and developing human as well as relational capital of my firm.

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