The clarity of 20th century markets was based on a system of fixed boundaries, with one-to-one trading relationships, linear value-chains and balance accounting concepts. A number of transformations are at work in the economy today and the impact has far-reaching implications for companies, financial markets and investors, accountants, public institutions and regulators.The search for new modes of competitiveness has opened the way for visionary entrepreneurs to exploit intangibles in previously unforeseen ways.
Intangibles - R&D, propriety know-how, intellectual property, workforce skills, world-class supply networks and brands - are now the key drivers of wealth production, while physical and financial assets are increasingly regarded as commodities. The present statistical, accounting and IPR conventions have failed to keep pace with economic reality. A new generation of conceptual and analytical tools is needed to enable company boards, shareholders and investors to judge management performance and differentiate good, bad and delinquent corporate stewardship.
Funding SchemeACM - Preparatory, accompanying and support measures
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