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Strategy development based on intangibles in SMEs – an integrated approach

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  • Markus Will
  • Kai Mertins

Abstract

The approach in this paper is based on the principles of action research and rapid prototyping. The paper shows the current status of a ‘bottom-up’ research process dedicated to continuously developing and improving management instruments that suit the requirements of small and medium-sized enterprises (SMEs): pragmatic, easy-to-use and generating direct practical benefit. As a result, this paper links the concept of intangibles to the practical strategy development process in SMEs. The integration shown concerns several challenges: (1) Integrate the internal and external perspective on intangibles, and, by that, link the concept of intellectual capital (IC) as a resource-based view with the concept of customer value as a market-based view. (2) Integrate the theoretical concept of IC with a methodology for comprehensive strategy development. (3) Integrate the formulation and implementation of business strategies taking into account the actual practice in SMEs.

Suggested Citation

  • Markus Will & Kai Mertins, 2013. "Strategy development based on intangibles in SMEs – an integrated approach," Knowledge Management Research & Practice, Taylor & Francis Journals, vol. 11(2), pages 175-183, May.
    • Handle: RePEc:taf:tkmrxx:v:11:y:2013:i:2:p:175-183
    DOI: 10.1057/kmrp.2013.17
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