Comprehensive Intellectual Capital Management: Step-By-Step

Chapter 9. The Pioneers of Intellectual Capital Management—Skandia and Dow Chemical

	It's certainly not to say that Dow or any other corporation has not managed its intellectual assets; in fact, I believe there is a direct correlation between how well the intellectual assets of a corporation have been managed and its financial success. The opportunity is in being able to visualize, better measure and manage them.
	--—Gordon Petrash, formerly of Dow Chemical Company and the leader of the Intellectual Asset Management initiative and currently chief strategy officer at Delphion[322]

Petrash continues to explain that though many corporations now know how to manage their intellectual assets, particularly when it comes to innovation and intellectual property (IP), the real challenge lies in two areas—knowing the "how" of managing knowledge, and adopting an appropriate model of intellectual capital management (ICM) as a whole wherein all forms of IC are visualized and managed.^[323] Devising a methodology, a system, or a model to deal with these two challenges, as well as tying this with the better management of the organization's intellectual assets (innovation resources and IP) and business as a whole are the main characteristics of the pioneers' ICM models.

In particular, the pioneers' models have the following characteristics in common regardless of industry, strategy, or size:

• A clear vision that recognizes the importance of ICM in the success of the organization and its attainment of ...