AINEETTOMAN PÄÄOMAN JOHTAMINEN YRITYSTASOLLA Aineeton pääoma ja arvonluonti -projekti 27.3.2014 Innovaatiotutkimuksen pyöreän pöydän keskustelu Tekes, Helsinki Aino Kianto professori Lappeenrannan teknillinen yliopisto, Kauppakorkeakoulu ja Technology Business Research Center
Background Organizational performance is increasingly grounded on knowledge-related issues Also managerial recognition, companies see that Knowledge is a key competitive asset Value creation is based on knowledge and competencies However, companies are dissatisfied their ability to leverage their knowledge assets The two key academic discussions addressing knowledge in organizations: Intellectual Capital (IC) Knowledge Management (KM) literatures However, very few earlier studies systematically combine these approaches to examine value creation in firms How do IC resources and their management practices interact to create value?
The research project: Intellectual Capital and Value Creation Examines the current state of IC stocks and KM practices, and how these interact in firms value creation Both subjective and objective performance measures Duration 2013-14 Survey research strategy Data collection in Finland Fall 2013 100+ employees firms Cross-industrial study One key informant from each firm
International collaboration Partners in 7 countries Hong Kong Polytechnic University, China University of Rome 3, Italy Deusto Business School, University of Deusto, Spain Universidade Lusiada, Portugal St.Petersburg University Graduate School of Management, Russia Educons University, Serbia Academy of Economic Studies, Bucharest, Romania Data collection in standardized format With the survey questionnaire developed by the LUT
Research question What is the current level of intellectual capital (IC) in Finnish organizations and how does it affect value creation? 1. What are the key elements of Finnish companies IC? 2. What are the key mechanisms used to manage IC? 3. How do IC and its management impact value creation? 4. How do these issues differ between Finnish and international organizations 5. How do different business environments and contingencies impact the relationships of IC and value creation?
The overall research model INTELLECTUAL CAPITAL ASSETS COMPANY AND ENVIRONMENTAL CHARACTERISTICS ORGANIZATIONAL PERFORMANCE KNOWLEDGE MANAGEMENT PRACTICES Data source: = survey data = publicly available databases and survey data
IC stocks and KM practices Intellectual capital stocks = Firm s knowledge and skills, its external relationships, organizational culture and other immaterial assets - What the organization owns - Static, the current state Knowledge management practices = Intentional and systematic processes methods and management practices that enhance the growth and utilization of IC - What the organization does - Dynamic, processual perspective
IC Stocks Relational Capital (all relationships established between firms, institutions and people) Internal (personnel, units, and functions) External (external stakeholders, e.g. customers, suppliers) Structural Capital (everything in an organization that supports employees in their work) Human Capital (stock of competencies, knowledge, social and personality attributes) Renewal Capital (e.g. learning and acquiring new knowledge, how creative and innovative firm is) Trust Capital (competence, benevolence, reliability related as well as general trust in firm) Entrepreneurship Capital (e.g. risk taking, recognising new business opportunities, ability to make bold decisions)
KM Practices KM leadership (how managers act concerning knowledge, e.g. encouraging knowledge sharing) Knowledge protection (protecting strategic knowledge) Strategic KM (the role of knowledge is acknowledged, e.g. strategy is related to knowledge) HRM (how HRM practices function concerning knowledge, e.g. monetary reward for sharing knowledge, development discussions, opportunities to further skills) Recruiting Training and development Performace appraisal Compensation
KM Practices Learning mechanisms (e.g. mentoring, collecting and disseminating best practices) IT practices (utilisation of technology e.g. in intra-organisational communication, collecting business information or searching information) Organizational structure (decision-making, informal interaction, teams with knowledge and expertise from different fields)
Dimensions of value creation Objective (from databases, Amadeus in Finland) Return on Assets (ROA) Return on Equity (ROE) Growth in Revenue Growth in Turnover/Sales Market to book value OR Price to book value (P/B) Subjective (i.e. self-evaluated) Market performance Innovation performance Customer value creation Job satisfaction
Innovaatiopolitiikan haasteet Ymmärryksen parantaminen Tiedon strateginen arvo Tietopääoman tuloksellisen johtamisen keinot Yrittäjämäisen asennoitumisen ja toiminnan edistäminen suomalaisessa yhteiskunnassa ja yrityskentässä Tietoon ja osaamiseen perustuvien palkitsemisjärjestelmien kehittymättömyys
Toimenpide-ehdotuksia Tietojohtamisen osaamisen vahvistaminen Nykyisille ja tuleville johtaja- ja esimiessukupolville Ammatillisen ja akateemisen koulutuksen keinoin Tiedon ja osaamisen kehittämistä ja hyödyntämistä tukevien palkitsemisjärjestelmien kehittäminen yrityksissä Esim. julkisten tutkimusohjelmien ja hankkeiden kautta. Tiedon johtamisen parhaiden käytäntöjen Tunnistaminen kansallisella ja kansainvälisellä tasolla Tiedon levittäminen näistä käytännöistä Tiedon levittäminen sellaisten organisaatioiden toimintatavoista jotka osaavat johtaa tietoaan erityisen hyvin Yrittäjämäisen toiminnan kannustaminen Innovaatiotoiminnan riskirahoituksella ja uusien rohkeiden avausten tukemisella
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