Purpose – After an introductory approach on the definitions and main characteristics of the knowledge economy the paper focuses on the three following purposes: 1) Discovering from the existing relevant literature on competitiveness, innovation and intellectual capital at the macro level which are the principles and theories that guide nations’ wealth creation in the knowledge economy context. This part tries to answer two fundamental questions: Who creates wealth? How wealth is created? 2) Finding out the suitable methodology or framework in order to enable an in-depth diagnosis of a nation’s actual knowledge driven competitiveness foundations, with the aim to aiding in the definition of the possible vision, objectives and lines of action to embrace in order to enable innovation and sustainable economic growth. 3) Applying the suitable methodology or framework for an in-depth diagnosis of the Spain crises and using the insights given by the in-depth diagnosis for having some light on the future economic development possibilities and on lines of action to be taken in order to foster innovation and sustainable economic growth. Design/Methodology/Approach – This practical research falls among the design science research approach that tries to find out methodologies for solving practical problems. Having in mind the practical objectives of purpose 3, the methodology approach for purpose 2 will be the following: According with principles and theories of wealth creation there is a close relationship between wealth creation and competitiveness and consequently trying to find out methodologies and frameworks for an in-depth practical diagnosis of a nation’s knowledge driven competitiveness foundations, leads us to the World Competitiveness Report from World Economic Forum (WEF) and World Competitiveness Yearbook from International Institute for Management Development (IMD), the two most relevant considering their up to date data bases, historical performances and scientific approach. Intellectual Capital community methodologies at the macro level are also considered as alternative approaches to the competitiveness frameworks. Finally we finish the review and valuation of competitiveness and IC macro dimension frameworks considering NICBS (Nations’ Intellectual Capital Benchmarking System) and enhanced NICBS methodologies as the more suitable for the above in-depth mentioned diagnosis. In essence the approach followed in purpose 3 has been a review of scientific literature on competitiveness and IC macro dimension with the exclusive aim of finding out the practical framework that could make it possible an in depth analysis of a nation knowledge based competitiveness foundations. Originality/Value – The paper is fully original because the in-depth economic reflection on the crise of Spain is performed using methodologies and frameworks that consider knowledge and other intangibles as the main foundations of competitiveness, innovation and sustainable economic growth. Theoretical/Practice implications – The reflections arising from the paper have mainly practical implications and will guide in the decision making process not only savers and investors but also government and institutional authorities.

Purpose – The aim of this paper is to diagnose the intellectual capital (IC) of Spanish companies so as to provide the basis for guiding the transition from a “brick-based economy” towards a knowledge-based economy. Moreover, the interplay between IC stocks (i.e. static IC), knowledge management (KM, i.e. dynamic IC) and human resource management (HRM) policies and practices will be studied as a key determinant of value creation through innovation. Design/methodology/approach – Setting out from the contextualization of Spanish economy in the European Union, the relevance of the research will be first justified. A theoretical model proposing the connections between IC stocks, KM practices, HRM policies and practices, and innovation performance will be then presented. Finally, the research model will be tested in a set of 101 Spanish companies using structural equation modelling (SEM) based on partial least squares (PLS). Previous to hypothesis testing, descriptive analyses will be provided that will help to identify the weaknesses and strengths of the companies analysed in terms of IC. Originality/value –The interplay between IC stocks (i.e. static IC), KM (i.e. dynamic IC) and HRM policies and practices has been clearly neglected in previous research in the IC domain. The research reported in this paper will contribute to fill this gap by providing a comprehensive picture of these relationships vis-à-vis innovation performance. Practical implications – The results obtained deliver useful guidance to company managers so as to how to boost their companies’ IC and enhance their innovation performance.

Open innovation is a new approach in innovation studies emphasize at opening the boundaries of the firm for exchanging the knowledge and R&D achievements with other enterprises, research centres and even competitors. As innovation plays a key role in achieving sustainable development goals and among them environmental sustainability, the effect of open innovation in facilitating the innovation process in transport sector will be discussed in this paper. Three indicators of open innovation have been analysed in order to identify how they can affect the number of firms which could introduce new innovations to the market in European Union countries. These indicators are: cooperation, acquisition of external resources and patents registered for electric and hybrid vehicles. The results of this study showed that while the cooperative and acquisition activities has a significant effect on the number of firms which could introduce new innovation to the market the effect of electric hybrid vehicle patents toward mitigating goals (reducing transport sector GHG emission) can’t be judged using the existing data, as this indicator is related to the car manufacturers while some major manufacturing companies located in US and Japan and were outside geographical region of the study. Purpose the study aimed at discussing how the success of firms in launching innovations to the market is affected by open innovation in road transport sector. Design/methodology/approach– An explorative study related to the environmental innovations in transport sector has been conducted based on a mixed research approach, The data gathering methods is based on analysing data from OECD database, community innovation survey results (2010) derived from Eurostat database. Statistical analysis includes analysis of variances and regression analysis. Originality/value – The study allows contributing to fill the gap in literature between open innovation and environmental sustainability in European Union using the network model for identifying the main players of innovative activities, Practical implications– The results of the study shows the extent to what European firms are willing to share their innovation and how open innovation variables can affect the firm’s ability in launching new innovations to the market.

Purpose – The open data movement is a a global trend for the opening of governmental data and the delivery of these data onto connected internet servers. The main argument for open data is that it will enhance the governmental transparency, and will promote the creation of new services for citizens by third parts. Despite its global success, open data initiatives utilizability for end users is often questionable and limits its social impact. This paper relates the case of an open data initiative designed around a user centered methodology, and proposes operational recommendations for further open data projects. Design/methodology/approach – During the U-Home project we used a participative design methodology, that could be described as opened or participative (Chesbrough, vanhaverbeke, West, 2006), more horizontal (Von Hippel, 2005) or even an ascending process (Cardon, 2005). The aim of this method is to imply all the stakeholders (users, partners, developers, etc.) during the innovation project to maximize the social utility and acceptability of the result. Originality/value –This methodology is an alternative to most of the former open data initiatives, consisting in creating open data portals, and inciting independent innovators to developp third services. In this classical case, the Open Data initiative relies onto the energy and the power of entrepreneurs/developers, willing to create business from a newly appeared resource (Data). Practical implications – Our work proposes to public agencies to play a new role in open data initiatives. They are not only data providers, but also partners that can facilitate and cooperate with data projects. Our work also insiste on the role of human sciences to imply end users at every stage of the project.

Purpose – The goal of this paper is to present eco-innovation implementation in some European countries. Both current and expected government regulation is particularly important for pushing firms to reduce air and water pollution, decrease hazardous substances and increase recyclability of products. Cost savings are an important main incentive for reducing energy and material use, pointing to the role of energy and raw materials prices, as well as taxation as drivers for eco-innovation. Customer requirements are very important source for eco-innovations, particularly with regard to products with improved environmental performance and process innovations that increase material efficiency, reduce energy consumption and waste . Design/methodology/approach – We propose an approach theoretical approach: to investigate available data concerning ecoinnovation implementation in the EU countries and case study. We review literature and analyse how different stakeholders can contribute to building a green economy through eco-innovation. Moreover, we analyze incentives and barriers of ecoinnovation development in European countries. Many companies implement eco-innovation, but the majority either still do not eco-innovate or the material savings gained due to innovation are not important. Nevertheless, there exists solid, often unrealized potential for eco-innovation in the EU. Around one fourth of innovating companies in the EU-27 countries have reported introducing eco-innovation to reduce material use between 2006 and 2008, according to the Community Innovation Survey/CIS/. Originality/value –This methodology puts in evidence that ecoinvations are important tool in building modern economy. It is confirmed by presented in this paper case studies. Practical implications –The outcomes of the ecoinnovation are very important to the decision makers. Traditional environmental policies and measures focus on dealing with specific problems. Generally, this approach has been quite successful. However, since traditional problem solving begins after recognising a problem’s existence, such policies are not preventive in a general. Solving individual problems only by specialised environmental technologies can even worsen other problems, in particular those as yet undiscovered. Today, more than 95% of the resources lifted from nature are wasted before the finished goods reach the market. And many industrial products – such as cars – demand additional natural resources while being used. Suficiently decoupling production and consumption from nature requires new systems, goods, services, processes, and procedures for meeting human needs.

Purpose – The Project Management body of studies has represented a catalyst of research, contributing to the development of effective theories and models, enabling to manage project’s results achievement. From another point of view, instead, it appears necessary, and still lacking, an higher attention towards theories and models that support the management of stakeholders’ value achievement. Of a fundamental importance in order to support the management of a program/project with the aim of value matching, is evaluation activity. A variety of evaluation approaches and models exist. Existent literature suggests that no one approach is best for all situations. Rather, the best approach varies according to many different factors. This paper collects, classifies and compares several project/program evaluation models, addressing insights on the selection of the proper evaluation model. Design/methodology/approach – Through a literature review several models addressing a program or project evaluation have been selected. They have been analysed in terms of characteristics, approach (qualitative vs. quantitative), field of application, pros and cons. A summative critical analysis compares the models and suggests implementation insights, depending on the evaluation scope and/or project’s field. Originality/value – The research contributes in the defining of a holistic framework of project/program evaluation models, that overcomes existent limitations: overall collection and comparison of evaluation models, critical analysis for an effective selection of the model. Practical implications – Evaluation of results and impacts of programs and projects is even more fundamental in turbulent and high competitive environments. The assessment and selection of the evaluation model is a crucial activity for many different purpose: finance of a project, assessment of a project’s efficacy, improvement of a program’s performance. Any project’s/program’s stakeholder should consider evaluation models characteristics, as a rationale for an effective and efficient evaluation process.

Purpose – This paper has two main aims: the first is to explore the development process of marketing networks, which are much less studied than R&D networks; the second is to identify those organizational and managerial factors that are supposed to have an influence on the success of a SMEs marketing network, given that the phenomenon has attracted much attention, but a high percentage of networks still fail. This allows to design a model for the sustainability of SMEs marketing networks. Design/methodology/approach – To address the aim of the paper, a qualitative approach based on multiple case studies was used. Four SMEs marketing networks having a different level of success were selected so as to have a base of comparison. The analysis of cases is based on a framework of analysis developed on the grounds of the literature review, which represents the guide for the within- and cross-case analysis and the basis for the design of the final management model. Originality/value – The study makes a noteworthy academic contribution to theory concerning marketing networks, since it allows to design a management model representing the development process of SME marketing networks, encompassing organizational and managerial factors involved in the process, as well as elements of contingency. Moreover, this study lays the grounds for future research in this field and gives rise to a new stream of research considering the specific role played by knowledge in networks. Practical implications – This study provides managers with a model for the development and management of SMEs marketing networks and a series of guidelines for success. The most relevant recommendation is that an network needs to be managed, and to this purpose specific network-related skills and know-how are required. Moreover, the paper contains insights relevant also for public policy. Indeed, high investment in order to foster collaboration need to be sustained by strong campaign of awareness of these topics.

Purpose – This study investigates the importance of networking for enhancing companies innovation capabilities and facilitate internationalization, especially for resource restricted companies (like SMEs). Collaboration is regarded as an important factor for the success of SMEs, especially as technology becomes complex, and where knowledge is distributed across various firms (Lee et al., 2010; Bianchi et al., 2010). The Contratto di Rete -CR- (literally translated as “Network Contract”) is a key solution, enhancing growth and increasing innovation capacity and internationalization of SMEs. This is made possible through knowledge sharing leading to higher outcomes (Hau-Siu Chow; 2012). In fact, sharing contributes to knowledge, skill, and ability that is vital to enhance performance. After grounding the Contratto di Rete in the general theory of networking, we propose a model based on Ring and Van de Ven theory (1994) in order to describe how a Contratto di Rete is established and performs. Design/methodology/approach – We propose a deductive approach trough a multiple-case study design. After having selected multiple Italian CRs (through a specified protocol) we make an in depth investigation with recorded semi-structured interviews (Yin, 1989), triangulating data with other relevant sources: internal documents, acts, presentations and the CRs. More in detail, we will answer to the following research question: Is the Contratto di Rete providing competitive support for the Italian SMEs? Outcomes will be compared to theory understanding case-specific patterns, similarities and differences among the case selected. Originality/value – This methodology puts in evidence if and how – thanks to linkages and knowledge sharing – CR is proving to be effective for Italian SMEs. Additionally, we address to Hofstede’s national culture dimensions to explain further in which ways the Contratto di Rete fits Italian entrepreneurship culture. Since 2009, year when the instrument was introduced, not enough time went by in order to make relevant quantitative studies (Bank of Italy, February 2013). For this reason, we will adopt a qualitative approach, based on interviews and, more specifically, with a multiple case study design. Practical implications – The outcomes of the study will shed light on this emerging networking phenomenon that is becoming widely applied in Italian SMEs. In particular, entrepreneurs and network managers will find which elements and practices drives the performance of the network. Our original approach links networks structure (nature of network ties, typology of involved firms), networks knowledge (in terms of competences and capabilities) and network performances in terms of innovation and internationalization.

Purpose – Organizational performance is increasingly grounded on knowledge-related issues. The seminal academic discussions addressing this phenomenon revolve around the concept of Intellectual Capital (IC) (e.g. Edvinsson & Malone, 1997; Sullivan, 1998). IC is typically divided to human, structural and relational capital assets possessed by an organization (e.g. Bontis, 2001; Guthrie, 2001). We expand this focus further on renewal capital (e.g. Kianto et al., 2010) entrepreneurial capital (e.g. Erikson, 2002) and trust capital (Mayer et al., 1995). There has been inconclusive evidence on the performance outcomes of possessing IC in firms. In general, IC has been seen to increase firm’s performance in various aspects, but the evidence is mixed and based on various types of measures (e.g. Bontis, 1998; Chen et al., 2006; Subramanian and Youndt, 2005; Tovstiga and Tulugurova, 2007). Therefore, to understand better the role of IC in firms’ value creation, we will analyze here empirically the effect of different IC categories on performance measures using psychometrically robust scales developed to capture the whole essence of the phenomenon. Our purpose is to provide detailed evidence on the different performance implications of IC categories in firms, and thus bring about new knowledge to the field. Design/methodology/approach – Our results are based on a survey data, collected in Finland during 2013. The data consist of 262 responses from firms with at least 100 people employed. We analyze seven different categories of intellectual capital, and examine their influence on various market and innovation performance measures. The used measures are based on multiple-item scales, developed on basis of earlier research, as well as including new measures developed by the authors. The Partial Least Squares (PLS) was used for the analyses by first assessing the reliability and validity of the measurement models and then the structural models to test our hypotheses. Originality/value – In this study, we examine the firm-level performance outcomes of intellectual capital. We utilize a broad set of measures for IC, including six categories of human, relational, structural, renewal, entrepreneurial, and trust capital. The first three categories are well-established and often utilized conceptualizations, while we suggest here that the latter three cover important facets of IC that should also be analyzed to get an overarching picture of the phenomenon. Our results show that the various IC categories have different implications for firms in terms of their performance. Practical implications – The results of this study help managers in firms to better understand the potentially best-performing categories of IC. Moreover, the results provide key performance outcomes for IC, which can be utilized to measure the return-on-investment of IC initiatives accurately and reliably. Thus, our findings provide the managers with a sound decision making tool regarding the investments on IC.

Purpose – This study examines how intellectual capital can affect firms’ value creation. The aim is to investigate the effects of the best practices’ adopted in this field on shareholders value and sustainability results, considering the human factor as the part of intellectual capital filled from the rising of the knowledge. For this reason managers should maintain skilled people inside the firm, considering a new respect for people. Is analysed the relationship between people management best practices and shareholder value creation. By the other side, the notion of the production of economic and financial value for shareholders is, though, ever more broadened to also take in the social shared “value”. So, in conclusion and for a broader qualitative and quantitative analysis, is also analysed the relationship with sustainability results. Design/methodology/approach – We propose an approach based on the analysis of the largest companies in Europe according to 2013 rankings. The qualitative and quantitative analysis is based on the comparison of accounting/market based value measures and social/environmental performance indicators, together with the analysis of best practices on human resources management which are possible to underline with the case analysis methodology. Originality/value – This methodology puts in evidence the strong link between people capital strategies and firm value creation and sustainability results. As we aim to prove, companies giving greater attention to the working conditions of their own workforce not only make people working inside more faithful and involved, but also handle a strategic lever able to create value for shareholders. Practical implications – The outcomes of the application could be a suggestion method for managers who want to find new opportunities in managing intangibles inside their organization and recognise their effects on shareholder value and sustainability results.

Purpose – This paper presents the first results of an ongoing research project aimed to define a general model to identify and assess performance and impacts of the Technological Districts (TDs). In particular, the idea is to provide a methodological framework, a system of indicators and a set of related tools able to drive the evaluation, the management and the reporting of the performance and the impacts of the TDs. The logic of the work is to define a model that may be objective, rigorous and able to become standard according to scientific, operative and methodological perspectives. Design/methodology/approach – At strategic level, the adoption of an integrated and multidimensional approach has been used for the elaboration of the general model. In particular, the model of the Strategy Map (Kaplan and Norton, 2000) has been coherently declined for a TD; the dimensions of performance and a set of scorecards have been defined and then integrated systemically in the unique and coordinated framework of the Strategy Map. Specifically, great attention has been paid to avoid confusion on contents and methods as well as avoiding overlapping of economic, financial, managerial performance and impact dimensions that often have characterized the academic and policy literature. Originality/value – This paper contributes at theoretical and practical level to improve the managerial and policy methods and tools to identify, assess, manage and report the performance and the impact of the TDs. Till now, in fact, it is possible to trace a lot of “cold fusions” about frameworks, aspects, dimensions, metrics, often very different among them and difficult to integrate and to became a general modeling. The originality and the value of the paper resides then in its attempt to improve and to let more shared and transparent the informative quality on which the TDs are called to operate and report to the stakeholders, in particular regulators and public organizations. Practical implications – The definition of this general model has also the objective to support the elaboration of a structured set of managerial and policy implications able to drive respectively the management in the strategy formulation and implementation, as well as in the actions for the performance improvement, and the decision-makers in the elaboration of effective policies of development and correct evaluation of the impact of the TDs on the different places.

Purpose – This paper investigates Smart Working (SW), a set of modern and not-conventional organisational models that are characterised by high flexibility in the choice of the working spaces, time and tools, and that provides all employees of a organisation with the best working conditions to accomplish their tasks. Specifically, the paper aims to: (i) identify whether firms adopt different SW models: (ii) explore complementarities between the elements that can lead to choose a SW model, and (iii) figure out whether contingent variables matters in the implementation of a particular SW model. Design/methodology/approach – This study is based on a continuative research initiative promoted since 2012 by the School of Management of Politecnico di Milano, i.e. the Smart Working Observatory. In order to achieve the paper goal, during 2013 we have run a survey delivered to 100 HR directors of medium and large Italian organizations to collect empirical evidence on SW phenomenon, and accomplished multiple, embedded case studies to better explain the findings achieved in the quantitative analysis. Originality/value – The paper aims to look inside the black box of SW, by unpacking the elements that can generate complementarities between the adoption of digital tools, workplace and work practice innovation. Practical implications – Managers who aim to fully benefit of SW practices should not only invest in the enabling digital technologies, but also make the complementary transformations in organisational policies and workspace settings, according the contingent conditions under which they operate.

Sustainable Value Creation, VAIC, Intellectual Capital, Corporate Social Responsibility, Performance measurement

Purpose – Companies are trying to respond to the increasing uncertainty and complexity in various ways. Development of open innovation and networking have already been well documented; they are based on the notion that tackling challenges in contemporary business environments demands a recognition of a shift in competitive factors from the company and industry level towards co-operation of companies and other stakeholders linked together through knowledge flows and shared value creation processes. This study aims to find how knowledge sharing for the collaborative organizations in the co-operation between health care professionals and sport counsellors can be supported by complexity leadership theory. Design/methodology/approach – The empirical context in this study is from the on-going MOTION! project which aims to develop the exercise and well-being industry, and create new collaboration models for co-operation between the private, public and third sectors. Case study is a preferred strategy when the investigator has little control over events, and when the focus is on a contemporary phenomenon within some real-life context. In this study two development sessions from 2012 and a survey conducted in the beginning of 2013 are mainly used to answer the research problem. Originality/value – Current leadership theories do not sufficiently address the needs of complex business environments. First of all, before successful leadership models can be applied in practice, leadership needs to shift from the industrial age to the knowledge era. Many leadership models still view leadership solely through the perspective of linear process thinking. In addition, there is not enough knowledge or experience in applying these newer models in practice, particularly, in the co-operation between health care professionals and sport counsellors from sport departments or third sector organisations. Practical implications – This study suggests that the complexity leadership theory represent applicable model to advancing sustainable knowledge sharing for the collaborative organisations. An implementable method for organizations may be assembled by assimilating different roles of complexity leadership into development practices featuring diverse activities and interaction channels. As MOTION! project wise, Physical activity pharmacy online platform was co-created. This is a good example of co-operation enhancing knowledge flows and co-creating value creation processes in offering private sector companies an opportunity to offer their services at all levels of the health and exercise service chain and to find new service and product concepts.

Purpose – The purpose of this paper is to explore the fourth stage of IC sociology development, In which, the good quality of a person’s life and the a environment are added to economic development. In an organization, Human beings are treated as social citizens rather than simply organizational employees. However, the relevance of IC beyond the organizational dimension is still hidden as the lack of research techniques and practical application. Design/methodology/approach – Institutional ethnography (IE), a sociological method of inquiry, is being used to explore employees’ everyday life in both internal and external organizations. With the use of IE as a methodological framework, the relevance of IC in the whole social system can be critically visualized. In the process of using IE, autoenthnography is used as the entry point. Originality/value – Through our research, the critical role IC plays in the 4th stage of IC sociology development is virtualized. The eco-system of IC is drawingorganizations into the whole social system to share part of human beings’ life equally and suitably. The stage is coming in which organizations should balance employees’ role through leveraging good IC to fulfil the requirements of a healthy society. Practical implications – The methodology used in our research creates path for the researchers to be involved in the actual life of employees and offers a real life application of IC at the individual, organizational and societal levels. Hence, the empirical evidence of IC research which originates from the actual experience is not just a “new language” of the research. Meanwhile, the skills needed for operating IE also demonstrates that potential for IC management lies in the practical world.

Purpose – The paper presents a thematic conceptualization of a Regional Entrepreneurial Learning Center, conceived as a catalyst of the knowledge-intensive entrepreneurship in the regions and a strategic asset for their growth in the scenario of the entrepreneurial economy (Thurik, 2008; Audresch and Thurik, 2001). Incardinated on the Knowledge Triangle and aimed to enhance, primarily, the social and economic valorization of the Key Enabling Technologies, the Center will promote the synergic integration between the universities, primary actors in the process of the knowledge creation, the companies, that allow the socio-economic valorization of the knowledge available through the innovation and entrepreneurial processes, and the governmental institutions, supporting their knowledge exchanges and knowledge valorization processes. Coherently with the emerging nature of the knowledge-intensive entrepreneurship as entrepreneurial learning process and inspired by the current debate on the innovation ecosystems, the Center will promote the development of continuous and dynamic entrepreneurial learning processes to create a young knowledge intensive entrepreneurs, the evolution of the Universities towards an entrepreneurial configuration, and to accelerate the diffusion of entrepreneurial behaviors and culture in all the regional organizations and institutions. Design/methodology/approach – The study is based on a constructive and qualitative review of the academic and policy-based existent literature on the issues related to the meaning and dynamics characterizing the knowledge economy as entrepreneurial economy, the knowledge-intensive entrepreneurship as technology-driven entrepreneurship, the entrepreneurial learning processes as main dimension of the entrepreneurship in the knowledge scenario. The theoretical background previously recalled addresses the conceptualization of the Regional Entrepreneurial Learning Center proposed by providing useful insights for determining its mission, processes, and strategies as well as to comprehend its meaning as booster of knowledge-intensive entrepreneurship and source comparative advantage in the regions. Originality/value – The paper presents elements of originality under different perspectives. In particular, a first valuable element springs from its contribution to the current debate on the knowledge intensive entrepreneurship as core process for the social and economic growth of the regions starting from the valorization of the knowledge and the Key Enabling Technologies. The focus on the dynamic perspective of the entrepreneurial learning process is a further valuable contribution at the scientific debate on the comprehension of the meaning and instances of the behavioral implications on the entrepreneurship and its implications on the effectiveness of the process of knowledge creation, absorption and diffusion in innovation ecosystems. Practical implications – The practical implications provided by the paper are identifiable into the main areas in which the Center will focus on. In operating as catalyst for the diffusion of knowledge intensive entrepreneurship in the regions, the Center will impact on the growth of the knowledge intensive entrepreneurship in the young people, and the diffusion of entrepreneurial culture and behaviors within the organizations, institutions and Universities. Such practical implications result coherent with the objectives of the European Agenda for the Smart Specialization and the several initiatives launched for overcoming the European Paradox of low innovation capability.

Purpose – Effective knowledge management (KM) entails knowledge assessment capability to enable identification of knowledge assets and proper governance of value creation dynamics. Although some studies have attempted to use different methods to measure knowledge at the organisational level, few have addressed the individual knowledge holder. The purpose of this paper is to present a state-of-the-art framework, referred to as MinK, that enables organisations to measure individual knowledge in the business context using a novel diversity of indicators. Design/methodology/approach – The model was developed based on a comprehensive conceptual framework. A pilot study composed of 20 semi-structured interviews elicited valuable feedback from practitioners and was followed by a validation phase in which an electronic questionnaire is used to survey a large sample of senior managers. Originality/value – This paper contributes to the literature by presenting an innovative integrated individual knowledge measurement framework, and proposing a theoretical framework for the pivotal role of individuals in the organisational knowledge environment. Practical implications – The model provides mangers with a valuable tool capable of identifying knowledge holders and supporting effective KM decision making to achieve optimal organisational performance. Results showed that the MinK framework was also well received by industry and accepted as a valid framework.

Purpose – The purpose of this paper is to show preliminary results from an international research project on intellectual capital and value creation led by Lappeenranta University of Technology (Finland) In the case of this paper, results from Italy will be reported and specifically . The Italian analysis focuses on the Entrepreneurial Capital (EC) and it analyses how large Italian companies develop and enhance this intangible element. The main research question is: What is the current level of Entrepreneurial Capital (EC) in Italian organizations and how does it affect value creation? To this end, the research addressed the different definitions of entrepreneurial capital that literature offers. As a secondary step we analysed the variables suggested by previous literature and we proposed an original definition for our research project. Our definition is that Entrepreneurial Capital is a stock of competences and the personnels’ attributes related to proactive, risky and aggressive decision-making and behaviour. Design/methodology/approach –In most studies IC has been seen to consist of three elements: human capital, structural capital and relational capital. However, we suggest that also three other elements could be included: “renewal capital”, in terms of innovative solutions, products and services available for the firms, “trust capital” i.e. the trust embedded in its internal and external relationship and “entrepreneurial capital” i.e. the competence and commitment related to entrepreneurial activities in the organisation. These variables were operationalized through meetings of the international working group. An empirical survey follows which analyses the Italian state of art . In particular the target population is made up of Italian companies with 100 or more employees. The companies involved were selected among 2,000 companies chosen from the database AIDA according to a stratified sample (according to geographical area, sector of activity and size). A questionnaire has been applied in order to gather information. This questionnaire is the same for all the countries participating in the project and has been administered mainly by means of e-mail and phone interviews. 100 companies have answered the questionnaire so far and this number is expected to increase during the next month. Additional economic and financial ratios have been obtained from AIDA database, which contains economic and financial information for Italian firms. Descriptive analysis techniques will then be applied and differences according to industry and size will be explored. Originality/value – This research provides researchers and managers with unique insights into the evolutionary nature of the relationships between distinct IC variables and draws a picture on the state of art of corporate entrepreneurial capital in the selected sample. Practical implications – This research highlights and improves companies’ abilities to manage their entrepreneurial capital. Furthermore this research will set the agenda for improving the entrepreneurial capital practices of Italian companies and will allow future comparison with firms from other countries that are participating in the same project identifying different pathways to success.

Purpose – An intertemporal comparison of the value created by Intellectual capital cannot disregard the current prices realized on the market by individual companies, because, at the corporate level, a decrease in sales prices results in a decrease of the value created (Zappa, 1919; 1920–1929). On the contrary, in comparisons in constant prices, this decrease is not measured at macroeconomic level (Weil, 2007; OECD, 2001). The goal of this paper is to examine the different measures of the Value Added created by Intellectual capital at micro and macroeconomic level and the relationship between these measures and the Neoclassical Theory of Subjective Value (Menger, 1976; Robbins, 1945; Wieser, 1889–2006; Wicksell, 1898–2006; Fisher, 1892; 1911–2006). Design/methodology/approach – We present the theoretical and practical limits of the use of index numbers to express the value created in constant prices even in international comparisons (Fisher, 1911–2006). As stated by the Theory of the Subjective Value any quantity of the same good has a different value as a function of marginal utility (Marshall, 1890–2006); so the deflating by means of a price index, distorts the value attributed by the market at micro economic level to different goods. In this way, comparison to constant prices also modifies relative prices. Originality/value – The valuation at current prices implies a different theory of the value of goods and we have identified a Third Generation of Marginalism in Friedrich von Wieser, Knut Wicksell and Irving Fisher since they indicate the difference between subjective and objective value. Intertemporal comparison at macroeconomic level is conducted deflating value so to consider the variation of the purchasing power of money (ISTAT, 2011). But the separation of changes in quantity from changes in price implies several problems (Fisher, 1911–2006) and we use modified input-output analysis to quantify in current prices the Value Added and the production realized in the economic system. Practical implications – The international and intertemporal comparisons made by governments and by the statistical institutes via National Accountings, should be at current prices and at purchasing power parity, i.e. excluding the use of index numbers to deflate changes in production. The comparison at current prices would result in assessments of the contributions provided by the intellectual capital (VAIC) differ from those measured in constant prices and without indicating the net asset of the economic systems (GDP). It is therefore necessary that the comparison measures not only indicate the statistical model, but also the economic theory of reference.

Purpose: The aim of this paper is to measure the sustainability of a tourist destination. The tourist destination competitiveness is the result of combining the governance of tourist firms that are part of it and the sustainability of environmental resources of a ‘geographical area. In this paper we will refer to the “albergo diffuso” experience. The ‘”albergo diffuso” will be useful for the purposes of our analysis to see if this new and original model of hospitality meets the characteristics of innovation for sustainability, providing a good example of enhancement of an area in the perspective of sustainable tourism development. Design/Methodology/Approach:. The methodology is the case study research (Yin, 2003). The results will be validated through the application of the model of Weaver (2000, 2011). The model proves to be more explanatory for the evaluation of the level of sustainability of investigated tourist destinations. Originality/Value: The sustainability implies that tourist destinations are governed and managed to satisfy the new expectations of the tourist’s experience in accordance with the socio-economic and natural environment in which they operate. In this context, the strategic role rises in support of the development of an entire area within the perspective of sustainable tourist development. Practical Implications: To be competitive, the tourist destination has a duty to propose an innovative bidding system that improves the quality of the tourist preserving natural resources and the cultural specificity on which the tourism is based. In this way, the tourist destination is identified as a node in a complex network of relationships that transcends national borders and involves different business actors who share goals and strategic decisions influence each other.