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Whereas the RBV initially emphasizes the identification and classification of resources and then later considers organizational capabilities, the ICRP begins at this latter stage.
Further, the ICRP avoids fitting capabilities into pre-formed generic classification schemes (such as physical, financial, customer, organization, and employee resources).
By providing participants with guidelines for identifying IC, the ICRP leads participants to think in terms of their unique expertise--a commodity not easily transferred, copied or imitated (Barney, 1991).
Both the RBV and the ICRP consider complexities associated with the organization's capabilities.
While both the RBV and ICRP approaches attempt to appraise profitability and competitive advantage, the former approach considers both resources and capabilities to do this, whereas the latter approach concentrates on capabilities only.
Since the FR represents the expected realization of an IC element's potential in benefiting the organization by contributing wealth, should it receive full developmental attention, we have named our process the Intellectual Capital Realization Process (ICRP) to recognize this fact.
Both the RBV and ICRP approaches ultimately seek to rationally develop strategy for the organization, relying upon the inside-outside model discussed earlier.
The ICRP assists managers in developing capabilities in areas where the greatest return occurs for the organization, as perceived by the IC bearers.
Implementing the ICRP transforms the topic of intellectual capital from an abstract to a concrete discussion within an organization.
Through use of the ICRP, organizations and their subunits that rely upon knowledge to get things done acquire a firm grasp of their IC.
ICRP results provide insight for top management to evaluate current IC investment strategies to ensure consistency with the organization-wide strategy.
>From a research point of view, the ICRP deals with profitability and competitive advantage through the value-added rating, based on the assumption that value-added represents these considerations.
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