Strategic management of intangible value drivers

Abstract

Organizations are recognizing that if they want to survive and prosper in the long run they need to strategically manage their intangible assets. New theories of strategic management such as the resource‐based view show that organizations can only gain sustainable competitive advantages if they are focusing on the development of their value drivers. Intangible assets such as know‐how, brands, copyrights, patents and relationships with customers or suppliers, are key value drivers in today’s business world. It is therefore critical for organizations to identify, understand, and manage these organizational value drivers. This article outlines the process of how organizations can identify their key resources – tangible and intangible – as well as their interdependence and causal dynamics to deliver value. An improved understanding of the strategic resource architecture helps to overcome causal ambiguity of how value is created and helps to direct resource allocation and competence acquisition.

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