The Entrepreneurial Society

The Entrepreneurial Society

How to Fill the Gap Between Knowledge and Innovation

Edited by Jean Bonnet, Domingo García Pérez De Lima and Howard Van Auken

This timely book analyzes the emergence of new firms in a broad context where economics, management and sociological approaches are joined. The market benefits of an entrepreneurial economy are evident in the new technology that has been made available to consumers over the past ten to twenty years. Entrepreneurial firms provide the market with innovations that create new products and, in turn, generate new employment and tax revenue, thus playing a critical role in surviving the economic crisis. The book explores diverse conditions that explain, permit and support entrepreneurship, allowing thinking outside the box and enhancing breakthrough innovations. At a time when new challenges are appearing regarding the ecological footprint, this is crucial.

Chapter 10: Interaction between Regional Intellectual Capital and Organizational Intellectual Capital: The Mediating Roles of Entrepreneurial Characteristics

Csaba Deák and Stefania Testa

Subjects: business and management, entrepreneurship


Csaba Deák and Stefania Testa INTRODUCTION AND OBJECTIVE 10.1 Intellectual capital (IC), or the ability to utilize knowledge resources, is largely recognized by scholars and practitioners as the fundamental source and driver of an organization’s competitive advantage (for example, Sullivan, 1998). Recently several researchers have begun to speak about IC not only in reference to business organizations but also to other contexts (Bounfour and Edvinsson, 2005). For example, Smedlund and Poyhonen (2005) deal with IC at cluster and regional levels while Malhotra (2001) deals with IC at a national level. When facing regions and nations, the same fundamental components used for organizations are mentioned, while adopting extended and refined definitions. According to Stewart (2001), within the field of strategic management IC includes three main components: human capital, structural capital and relational capital. Human capital is embodied in the skills, knowledge and expertise that individuals have; structural capital comprises the general system and procedures of the organization as well as physical infrastructures; and relational capital is made up of the relationships that an organization has with the environment in which it operates. The concept of regional cognitive and intangible resources is particularly relevant when facing small and medium-sized enterprises (SMEs). SMEs are often limited by resource availability and must heavily rely on external knowledge and skills, which are often embedded in their local area. Thus the issue of how SMEs exploit the elements of regional IC, combined with their own organizational IC, in order to gain a competitive advantage has...

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