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Comprehensive Intellectual Capital Management: Step-By-Step by John Morecroft

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Appendix A. Mini Master's of Business Administration (MBA)

This book has proposed and presented intellectual capital management (ICM) as an evolutionary stage of business management for the knowledge organization. A number of business topics have been presented from the perspective of ICM, including vision, culture, organizational behavior, human resources management as management of knowledge resources, business process and operations management as part of managing the innovation process, and strategic management under the formulation of various IC strategies. As such, ICM is closely linked to the art and science of strategic management, where the organization develops the ability to adjust its overall business and competitive strategies in response to change. Of course, it is impossible to tackle all the topics and areas that an MBA covers. This appendix, however, provides the reader with essential minimum knowledge of business management concepts, particularly in relation to strategic management, and touches on marketing strategy and organizational structure.

STRATEGIC MANAGEMENT

The main goal of strategic management is to develop the organization's ability to adapt and respond to change in its environment based on its internal capabilities. It involves managing the organization while having a clear vision of where the organization is and where it wants to be. Strategic management, therefore, is about organizational renewal and growth, wherein nothing is set in stone and practices ...

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