Comprehensive Intellectual Capital Management: Step-By-Step

Part III. Step-by-Step Guide to the CICM Model

Part Two outlined the changes required to successfully implement the various stages of the CICM model. This part presents a step-by-step guide on how to implement the required changes. However, before implementing any change, it is important to ensure that the organization has first taken some steps that are essential to effect any change. It is essential before implementing any of the programs and practices outlined in Parts Two and Three of this book to formulate a powerful vision that leads change, to adopt a business model with a flexible structure, and to ensure that the culture is the right one. These issues are discussed in chapter 10. But that is not all.

Every organization is different, not only in terms of size and industry but in terms of goals and objectives. An organization's industry and particular strategic goals may require more focus on one of the stages rather than the others. That is when it is important to customize the CICM model by devising an IC strategy. The IC strategy enables the organization to phase out the required changes over the short and long terms, and hence manage resource allocation. Over the short term, the change initiative should focus on the stage at which there are immediate business needs that affect the organization's performance in its market. Long-term focus should be on the stage that will enable the organization to enhance its future competitiveness and sustain its knowledge resources. ...