Leveraging intellect

Abstract

Executive Overview With rare exceptions, the productivity of a modern corporation or nation lies more in its intellectual and systems capabilities than in its hard assets, raw materials, land, plant, and equipment. Intellectual and information processes create most of the value-added for firms in the large service industries, like software, medical care, communications, and education, which provide 79 percent of all jobs and 76 percent of all U.S. GNP.1 In manufacturing as well, intellectual activities, like R&D, process design, product design, logistics, marketing, marketing research, systems management, or technological innovation, generate the preponderance of value-added. McKinsey & Co. estimates that by the year 2000, 85 percent of all jobs in America and 80 percent of those in Europe will be knowledge-based. Yet few managements have systematically attacked the issues of developing, leveraging, and measuring the intellectual capabilities of their organizations. What are the keys to these processes? What light do research and best practice shed on this subject?

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