Intellectual Capital and the New Wealth of Nations

Abstract

If asked, few managers today would deny the importance of intellectual capital to successful performance. But organisational practice – for example performance measurement and accounting techniques – have not yet been adjusted to recognise the changing origins of wealth creation. The author of this article argues that firms and countries which lag on this issue do so at their peril. He identifies and examines some examples of best practice and indicates how they could be generalised.