Towards a scorecard for tangible and intangible assets

Abstract

This study investigates the notion of knowledge assets as the primary driver of growth towards the knowledge economy. The research premise is that outcomes of intangible assets might be difficult to measure but their contributions to growth and human development of societies must be nevertheless assessed. Design/methodology/approach: The questions addressed in this study are: Why are some countries less developed and others vastly developed despite the prevalence of equivalent resources? What influence has the ability of a nation to leverage the knowledge and intangible assets it possesses on its growth and development? First, a retrospective review of the relevant literature was used to understand the meaning, similarities as well as differences between a knowledge society and an information society. Then secondary empirical data from sources such as the UNDP (United Nations Development Programme), the World Bank etc. were used to justify the research questions through the lens of four countries namely; Singapore, Nigeria, United States of America and the United Arab Emirates. Inthe third phase, a group of knowledgeable people, each of which has lived in at least two of the countries used as case studies were interviewed to provide a Delphi validation for this research. Findings: Due to the fast emanation of knowledge as a powerful corporate resource; nations are becoming more knowledge-intensive in order to earn themselves sustainable competitive advantage. Economies that are skilled enough to leverage on the knowledge assets they possess are prospering while those which lag behind (the bottom billions) lose in their competitive edge and remain poor despite their possession of natural resources. Research limitations/Implications: Countries selected for this research spanned across various development spectrum and each unique in its own stage of development.