Summary:
The book explores the concept of intellectual capital and its critical role in creating and sustaining competitive advantage for organizations. It delves into strategies for managing knowledge assets, the implications for corporate and national policy, and the challenges of aligning organizational structure and strategy with the exploitation of intangible assets.
Key points:
1. Intellectual Capital as a Key Asset: Teece highlights how crucial intellectual capital (IC)—like patents and know-how—is for companies to stay competitive. Effectively managing IC leads to innovation and market adaptability.
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