Intellectual Capital/Stewart 162-163

163 TEN PRINCIPLES FOR MANAGING INTELLECTUAL CAPITAL

1. Companies don't own human and customer capital...Only by recognizing this shared ownership can a company manage and profit from these assets.
2. To create human capital it can use, a company needs to foster teamwork, communities of practice, and other social forms of learning.
3. To manage and develop human capital, companies must unsentimentally recognize that some employees...aren't assets: Organizational wealth is created around those skills and talents that are (1) proprietary, in the sense that no one does them better and (2) strategic, in that the work they do creates the value customers pay for. People with those talents are assets to invest in. Others are costs to be minimized, as far as your business is convened; the skills might be assets for someone else.
4. Structural capital is the intangible asset companies own outright.
5. Structural capital serves two purposes: to amass stockpiles of knowledge that support the work customers value, and to step up the flow of that information inside the company.
6. Information and knowledge can and should substitute for expense physical an financial assets.
7. Knowledge work is custom work. Mass-produced solutions won't yield high profits.
8. Every company should reanalyze the value chain of the in the industry it participates.
9. Focus on the flow of information.
10. Human, structural, and customer capital work together.