Title: Innovation and intellectual capital (risk) management in small and medium-sized enterprises
Author: Susanne Durst
Address: Institute for Entrepreneurship, University of Liechtenstein, Fürst-Franz-Josef-Strasse, Vaduz 9490, Principality of Liechtenstein
Abstract: Innovation is driven by firms' ability to exploit their stock of or access to intellectual capital (IC). Thus companies need to integrate the management of IC, including both the up- and downsides of IC into the core of their strategic efforts. Taking the relevance of innovations for firm's competitiveness and growth intents, the management of risks associated with innovation should be a critical component of the firm's IC (risk) management. The purpose of this paper is to link IC (risk) management and innovation. It is conducted from the point of view of SMEs as their resource constraints create unique challenges. Based on a discussion of the relevant fields a framework is presented which highlights a holistic IC management approach.
Keywords: small and medium-sized enterprises; SMEs; innovation; intellectual capital management; risk management; emerging economies.
Int. J. of Transitions and Innovation Systems, 2012 Vol.2, No.3/4, pp.233 - 246
Available online: 20 Jan 2013