Abstract
With an incredible US$168 billion in sales General Motors, a company representing the prosperous industrial era, again hit the top spot of the famous Fortune 500 ranking in 1996. From the perspective of the classical ‘factors of production’ — land, labour, money, and equipment — the US$222 billion of assets1 of GM makes it a very wealthy and indeed influential company.
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Notes
D.V. Fites: “Make your dealers your partners”, Harvard Business Review, March–April 1996, pp. 84–95.
W. B. Arthur: “Positive feedbacks in the economy”, Scientific American, February 1990, pp. 80–85;
B. Wysocki, Jr: “The wealth of notions”, Wall Street Journal, 22 January 1994.
W. B. Arthur: “Increasing returns and the new word of business”, Harvard Business Review, July–August 1996, pp. 100–9.
This activity is what Mintzberg and Quinn call pattern recognition, according to them a fundamental ability for managers today; see H. Mintzberg & J. Quinn: The Strategy Process (2nd edn), Prentice-Hall, Englewood Cliffs, NJ, 1994.
These commando units, by the way, bear more than a passing resemblance to the hunting organisation Hurst speaks of. See D. Hurst: Crisis & Renewal, Harvard Business School Press, Boston, MA, 1995.
See F. J. Varela, E. Thompson & E. Rosch: The Embodied Mind, MIT Press, Cambridge, MA, 1992, for the autopoiesis view;
and M. Polanyi: Personal Knowledge, Routledge, London, 1958, for the tacit-explicit knowledge distinction…
This is what has also been called the knowledge-creating spiral: I. Nonaka: “The knowledge-creating company”, Harvard Business Review, November–December 1991, pp. 96–104.
See for example G. von Krogh & J. Roos: “Conversation management”, European Management Journal, XIII, (4), 1995, pp. 390–4.
G. Hamel & C. K. Prahalad: “Strategic intent”, Harvard Business Review, May–June 1989, pp. 63–76;
W. Ouchi: “Markets, bureaucracies and clans”, Administrative Science Quarterly, XXV, 1980, pp. 129–41.
A. Webber: “What’s so new about the new economy?”, Harvard Business Review, January–February, 1993, pp. 4–12.
See G. Hamel & C. K. Prahalad: Competing for the Future, Harvard Business School Press, Boston, MA, 1994.
J. Klein & P. Hiscocks: “Competence development: a practical toolkit” in G. Hamel and A. Heene (eds): Competence-based Competition, Wiley & Sons, Chichester, 1994.
R. Eccles: “The performance measurement manifesto”, Harvard Business Review, January–February, 1991, pp. 131–7.
See for example C. Fornell: “A national customer satisfaction barometer: the Swedish experience”, Journal of Marketing, 1992, pp. 6–21.
R. Kaplan & D. Norton: “The Balanced Scorecard — Measures That Drive Performance”, Harvard Business Review, January–February 1992, pp. 71–9.
J. Kurtzman: “Is your company off course? Now you can find out why”, Fortune, 17 February 1997, pp. 58–60.
R. Kaplan & D. Norton: The Balanced Scorecard, Harvard Business School Press, Boston, MA, 1997.
L. Edvinsson & M. Malone: Intellectual Capital: Realizing Your Company’s True Value by Finding Its Hidden Brainpower, Harper Business, New York, NY, 1997.
For more information, see H. Itami with T. Roehl: Mobilizing Invisible Assets, Harvard University Press, Cambridge, MA, 1987.
For more information, see G. Hamel & A. Heene (eds): Competence-based Competition, Wiley & Sons, Chichester, 1994.
For more information, see P. Senge: The Fifth Discipline, Doubleday Currency, New York, 1990.
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© 1997 Johan Roos, Göran Roos, Nicola Carlo Dragonetti and Leif Edvinsson
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Roos, J., Roos, G., Dragonetti, N.C., Edvinsson, L. (1997). The New Business World. In: Intellectual Capital. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-14494-5_1
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