To read the full version of this content please select one of the options below:

Is intellectual capital‐based strategy market‐based or resource‐based? On sustainable strategy in a knowledge‐based economy

Lidia Galabova (Glasgow School for Business and Society, Glasgow Caledonian University, Glasgow, UK)
Guy Ahonen (Finnish Institute of Occupational Health (FIOH/TTL), Helsinki, Finland)

Journal of Human Resource Costing & Accounting

ISSN: 1401-338X

Article publication date: 1 November 2011

Abstract

Purpose

The purpose of this paper is to construct a strategy model based on Intellectual Capital (IC) theory and to demonstrate that it is not purely resource‐based (RBV), but includes many elements that are rooted in the market based view (MBV). The authors' analysis indicates that only strategies which lead to both tangible and intangible revenues are sustainable in a knowledge‐based economy.

Design/methodology/approach

The paper takes the form of an extensive review of IC and strategy literature, and in‐depth comparative analysis of IC concept and the strategy management frameworks, particularly Porter's framework.

Findings

It is found that the IC‐based view (ICBV) is much closer to the MBV than what one would expect and the ICBV is more appropriate for a knowledge‐based economy than both the MBV and the RBV in general.

Originality/value

It is widely assumed that IC theory is strongly related to resource‐based strategy. The authors question this simple view and maintain that the IC‐based view relates to both MBV and RBV.

Keywords

Citation

Galabova, L. and Ahonen, G. (2011), "Is intellectual capital‐based strategy market‐based or resource‐based? On sustainable strategy in a knowledge‐based economy", Journal of Human Resource Costing & Accounting, Vol. 15 No. 4, pp. 313-327. https://doi.org/10.1108/14013381111197243

Publisher

:

Emerald Group Publishing Limited

Copyright © 2011, Emerald Group Publishing Limited