Achieving Sustainable Business Excellence The Role of Human Capital
Compiling the best practices of business excellence frameworks around the world, this new book addresses the need for innovative research on sustainable business performance. Using detailed empirical studies, the authors outline the motives and benefits o
- PDF / 2,216,539 Bytes
- 264 Pages / 419.58 x 612.28 pts Page_size
- 70 Downloads / 196 Views
ACHIEVING SUSTAINABLE BUSINESS EXCELLENCE The Role of Human Capital
Achieving Sustainable Business Excellence
Flevy Lasrado • Vijay Pereira
Achieving Sustainable Business Excellence The Role of Human Capital
Flevy Lasrado University of Wollongong in Dubai Dubai, United Arab Emirates
Vijay Pereira University of Wollongong in Dubai Dubai, United Arab Emirates
ISBN 978-3-319-73313-5 ISBN 978-3-319-73314-2 (eBook) https://doi.org/10.1007/978-3-319-73314-2 Library of Congress Control Number: 2018934698 © The Editor(s) (if applicable) and The Author(s) 2018 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Foreword
In today’s dynamic technological and global economy, Tobin′s Q Ratio =
Market Value of a Firm Book Value of Its Replacement Assets
is a large number. What explains why the numerator is typically a large multiple of the denominator? The difference is the intangible assets, knowledge and human capital of its employees that give a firm its competitive capabilities, and a market value well above the book value of its tangible replacement assets. In short, the competence of firms and the modern knowledge economy are substantially explained by its intangible assets, the thoughts of its personnel, and organization. What exactly is meant when persons say that we are in a “knowledge economy”? Where does the knowledge reside? Raw data, however “big” or copious, is not knowledge until it is coded and analyzed, and deductions are drawn from it (Provost and Fawsett 2013). Knowledge, in turn, has no commercial value until it is registered as intellectual property with a government, or applied to a busine
Data Loading...
