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Strategy development based on intangibles in SMEs – an integrated approach

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Knowledge Management Research & Practice

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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Authors and Affiliations

  1. Fraunhofer-Institute for Production Systems and Design Technology (IPK), Germany

    Markus Will & Kai Mertins

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  1. Markus Will
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  2. Kai Mertins
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Correspondence to Markus Will.

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Will, M., Mertins, K. Strategy development based on intangibles in SMEs – an integrated approach. Knowl Manage Res Pract 11, 175–183 (2013). https://doi.org/10.1057/kmrp.2013.17

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