Companies must adapt to the intangible economy to stay competitive from "summary" of Capitalism without Capital by Jonathan Haskel,Stian Westlake
To stay competitive in today's economy, companies must recognize the increasing importance of intangible assets. Traditional measures of investment, such as machinery and buildings, are no longer sufficient indicators of a firm's value. In fact, intangible assets such as intellectual property, brand recognition, and human capital now make up a significant portion of a company's worth.
This shift towards intangible assets has major implications for how businesses operate. Companies must now focus on developing and leveraging these intangible assets to maintain a competitive edge. This includes investing in research and development, marketing, and employee training to enhance the value of their intangible assets.
Moreover, companies must a...
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