5
Measurement and technology
Knowledge, like people, is a resource for companies to harness and from which to obtain returns. However, it is becoming apparent that knowledge, as opposed to traditional resources, is actually subject to increasing returns, thus making it more attractive than before to companies. Hence, building up a knowledge resource would enable companies to leverage on a competitive advantage not easily copied by others. The dawning of the importance of the knowledge resource has long been apparent, especially when evaluating companies for the purpose of trading on the stock market. Examples are plentiful of companies trading several hundred per cent over their actual asset value, all due to their ‘hidden value’.
Even though ...
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