Integrating intellectual capital and knowledge management

Progressive managers consider intellectual capital management (ICM) and knowledge management (KM) to be vital for sustained viability. Recent practices support this notion and have provided important approaches and tools. IC focuses on renewing and maximising the enterprise-wide value of intellectual assets. KM supports ICM by focusing on detailed systematic, explicit processes and overlap and synergy between ICM and KM, and advanced enterprises pursue deliberate strategies to coordinate and exploit them. From ICM perspectives, they create balanced intellectual capital portfolios that they implement with KM approaches and tools. (C) 1997 Elsevier Science Ltd.