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2016/2017  KAN-CCMVV1642U  Strategy Making and Value Creation by Using Intangible Assets

English Title
Strategy Making and Value Creation by Using Intangible Assets

Course information

Language English
Course ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration One Quarter
Start time of the course Autumn, First Quarter
Timetable Course schedule will be posted at calendar.cbs.dk
Max. participants 80
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Jan Annerstedt - Department of Operations Management (OM)
Kontaktinformation: https:/​/​e-campus.dk/​studium/​kontakt eller Contact information: https:/​/​e-campus.dk/​studium/​kontakt
Main academic disciplines
  • Innovation
  • Management
  • Strategy
Last updated on 01-12-2016
Learning objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors: As future leaders of organizations, course participants will be equipped with relevant professional skills, intensified by up-to-date practical insights for managing intangibles in local and global business contexts. Case studies are selected to gain insights into best practices and allow each student to make an independent judgment of critical intangibles put to use.

Participants will not only get novel insights by unique case material, drawn from on-going research activities. They will also be exposed to the current discourse on the measuring and management of intangibles to which researchers at the CBS contribute. Students should be able to reflect upon the consequences of applying different theories on a given management issue.

Depending on earlier specialization and business practice, each student will be assisted in building his och her expertise through the identification, development and possible use of intangible resources and capabilities to create value.

Course participants, starting to prepare a Master thesis project, will be assisted by the teaching staff during the course.

To be awarded the highest mark (12) the student should meet the following learning objectives wityh no or only minor mistakes and errors:
  • A. Theoretical understanding: A limited number of analytical approaches for strategy making and value creation by the use of intangible assets (such as brands, professional skills and competencies, networked business systems). The student should be able to apply an appropriate analytical approach to a given management challenge and consider the strengths and weaknesses of that theory.
  • B. Methodological insights: Different methodologies on how to measure and report an organization’s intangible resources and capabilities, including its intellectual capital.
  • C. Practical perceptions: Business models, management methods and means for taking advantage of intangible assets to facilitate and energize capabilities for product design, innovation, entrepreneurial business development.
Strategy Making and Value Creation by Using Intangibles:
Exam ECTS 7,5
Examination form Oral exam based on written product

In order to participate in the oral exam, the written product must be handed in before the oral exam; by the set deadline. The grade is based on an overall assessment of the written product and the individual oral performance.
Individual or group exam Oral group exam based on written group product
Number of people in the group 2-4
Size of written product Max. 10 pages
Definition of number of pages:
Groups of
2 students 5 pages max.
3-4 students 10 pages max

Students who wish to have an individual exam might be able to write a term paper in the course. Please see the cand.merc. rules for term papers for more information.
Assignment type Synopsis
Written product to be submitted on specified date and time.
15 min. per student, including examiners' discussion of grade, and informing plus explaining the grade
Grading scale 7-step scale
Examiner(s) Internal examiner and second internal examiner
Exam period Autumn
Make-up exam/re-exam
Same examination form as the ordinary exam
Re-take exam is to be based on the same report as the ordinary exam:

* if a student is absent from the oral exam due to documented illness but has handed in the written group product she/he does not have to submit a new product for the re-take.

* if a whole group fails the oral exam they must hand in a revised product for the re-take.

* if one student in the group fails the oral exam the course coordinator chooses whether the student will have the oral exam on the basis of the same product or if he/she has to hand in a revised product for the re- take.
Course content and structure

This course is about business firms and other organizations that master their "hidden resources and capabilities" (intangible assets) when shaping strategy, managing innovation and incremental change, and creating value.


  1. Course participants are offered a variety of analytical approaches to identify, measure and assess intangibles in organizations and in networks of organizations.
  2. We will discuss how to put intangibles into effective use, thereby also promoting more "knowledge-intensive" or intelligent" organizations to succeed in highly competitive and swiftly changing environments.
  3. Focus is put on effective modes of managing intangibles in large corporations and public institutions as well as in small and medium-sized business enterprises, including start-up firms.
  4. The course is analytical as well as practical in orientation by exploring original case material from comparative research on firms operating globally and in six countries in Europe (Denmark, Italy, Spain) and Asia (China, India, Vietnam).


The course is based on individual readings and combines lectures with group work and plenary discussions, plus case presentations. Such mini-workshops linked to the lectures/plenary sessions are essential parts of the course. Here, the case presentations are discussed and the students will be able to introduce project ideas and draft papers that could be edited into synopsis to be used during the final examination.

Teaching methods
The eight sessions of the course are structured according to international textbook materials, provided by the course organizers with support from more than 30 specialists on strategy and management in Asia and Europe.

Apart from the lectures and other presentations, the course is a combination of several types of learning and builds on continuous interaction during the course period of eight weeks with other CBS teachers, external experts and resource persons from business and the public sector:

1. Reviews of analytical perspectives on the management and measuring of intangibles and on ‘knowledge-intensive’ or ‘intelligent’ organizations.

2. Extensive readings (of required and optional literature).

3. Brief group presentations and assessments of various methods, tools or instruments for strategy making and value creation in practice.

Course participants will benefit from a quality assurance approach, developed at the CBS to make this course more relevant and adaptive to changing student demands. An elected group of course participants will support the course coordinator and the lecturers in securing a high level of quality and relevance of the contents of the course. The work of the quality assurance group (which meets briefly every week – immediately after class) will be pro-active and benefit from the flexible course organization. The quality assurance group should influence positively also the week-by-week planning of the joint course work.
Student workload
Readings and other preparations, incl. writing of the synopsis 125 hours
Session participation and follow-up 65 hours
Exam, incl. preparations 16 hours
Expected literature

Examples of course readings:

Busco, C, et al (2014). Leading Practices in Integrated Reporting, Strategic Finance, September 2014, pp. 23-32.


Ciborra, C. U. and R. Andreu (2002). Knowledge across Boundaries: Managing Knowledge in Distributed Organizations. The Strategic Management of Intellectual Capital and Organizational Knowledge. Edited by C. W. Choo and N. Bontis. Oxford, Oxford University Press, pp. 575-586.


Ciborra, C. U. and R. Andreu (2002). Knowledge across Boundaries: Managing Knowledge in Distributed Organizations.The Strategic Management of Intellectual Capital and Organizational Knowledge. Edited by C. W. Choo and N. Bontis. Oxford, Oxford University Press, pp. 575-586.


Danish Agency for Trade and Industry (2000). A guideline for intellectual capital statements. A key to knowledge management. Copenhagen, Danish Agency for Trade and Industry (selected pages).


DTI (2001), Creating value from your intangible assets: Unlocking your true potential. London: Department of Trade and Industry.


Giraudeau, M. (2012). “Imagining (the Future) Business: How to Make Firms with Plans?”, in Imagining Organizations: Performative Imagery in Business and Beyond. Edited by F.-R. Puyou, P. Quattrone, et al. New York: Routledge, pp. 213-229. 


Hagel, J., J. S. Brown et al (2013). From exponential technologies to exponential innovation. (Report 2 of the 2013 Shift Index series). San José, Deloitte Center for the Edge.


Hagel, J., J. S. Brown, et al. (2008). "Shaping Strategy in a World of Constant Disruption." Harvard Business Review (October).


InCas (2007). Intellectual Capital Models. Berlin, Fraunhofer Institute for Production Systems and Design Technology, 14 pp.


International Integrated Reporting Council (2013). Summary of Significant Issues: The International <IR> Framework, London: IIRC, 50 pp.


International Integrated Reporting Council (2013). The International <IR> Framework, London: IIRC, 35 pp.


Kaplan, R. S. and D. P. Norton (2004). Strategy Maps: Converting Intangible Assets into Tangible Outcomes. Boston, Harvard Business School Press, pp. 29-56.


Kaplan, R. S. (2010). Conceptual Foundations of the Balanced Scorecard. Cambridge, Harvard Business School Working Paper 10-074, pp. 1-36.


Marr, B. (2008). Impacting Future Value: How to Manage your Intellectual Capital, Mississauga (Canada): The Society of Management Accountants of Canada, 31 pp.


Mouritsen, J. and H. T. Larsen (2005). "The 2nd wave of knowledge management: The management control of knowledge resources through intellectual capital formation." Management Accounting Research 16, pp. 371-394.


Probst, G., B. Büchel, and S. Raub (1998). “Knowledge as a Strategic Resource.” In Knowing in Firms: Understanding, Managing and Measuring Knowledge, edited by G. von Krogh, J. Roos and D. Kleine, London: Sage, pp. 240-52.


Raustiala, K. & C. J. Sprigman (2006). ”The Piracy Paradox: Innovation and intellectual property in fashion design”. Virginia Law Review, Vol. 92, selected pages. (UCLA School of Law Research Paper No. 06-04.) 


Rumelt, R. (2011). “Using Advantage”, in Good Strategy/Bad Strategy, New York: Crown, Chapter 12, pp. 160-177.


Weick, K. E. and K. M. Sutcliffe (2001). Managing the Unexpected: Assuring High Performance in an Age of Complexity. San Francisco, Jossey-Bass (Selected pages).

Last updated on 01-12-2016