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By Juergen H. Daum

With using sensible in-depth case reports and interviews with best specialists within the box, this booklet analyses the most important components in worth production within the new age. It presents useful counsel to firms that would let them migrate effectively into an financial system that calls for new company types.

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But many businesses still do not know their end-customers. To know its customers and, more importantly, to know their preferences and needs is of inestimable value for corporations today. The industrial age with its mass production and standardized products is gone. While the consumer of the 1960s was accustomed to one-size-fits-all/single-transaction/zero-service relationships with his or her vendors, the consumer of today, having enjoyed a decade of growing control over the purchase process, expects to be able personally to define the products or service to match his or her needs.

And it is likely that this number will grow within the next few years up to 250,000. The German government reacted in the meantime by introducing its ‘‘green card’’ initiative, allowing highly-skilled people such as software programmers to enter the country for a limited time. Being able to hire enough talented people and retaining their skills and knowledge for the company represents a major challenge for management in any knowledge-intensive business today. Similar is true for the creation of relationships with customers and business partners.

9 Investment in information and knowledge represent an investment in the capability to create intangible assets. IT is helping corporations to replace tangible assets by intangible ones and to increase the portion of the total value of a corporation made up of intangible assets. What exactly are intangible assets? Assets are everything owned economically by a company that has money value. Assets come in four forms: o current assets, meaning that they are likely to be consumed or sold within one year; o fixed assets, which in the form of plant, equipment and property have a useful life of more than one year; o investments, a company’s holdings in stock and bonds; and o intangible assets, which is everything that is not physical or investment, but is of value to the company.

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