Purpose-One of the responses to criticisms of traditional forms of accounting reports for knowledge-based firms has been the development of the balanced scorecard (BSC), a strategic performance measurement framework and methodology based on a family of performance measures. This paper aims to examine the issue of measuring performance in relation to a major Australian company, The Fosters Brewing Group, where a newly appointed CEO reversed a decline in performance by adopting, among other initiatives, the balanced scorecard approach to management. Design/methodology/approach-The paper takes the form of a case study, applying the theoretical framework of the BSC to a declining business in order to achieve a turnaround. Findings-The paper discusses how a newly appointed CEO of The Fosters Brewing Group reversed a decline in performance by adopting, among other initiatives, the balanced scorecard approach to management. Research limitations/implications-The BSC is a practical framework to deal with the intangible nature of knowledge, while ensuring that such investments in knowledge and management align with and contribute to their strategic direction. Practical implications-The paper provides an example of a company using the BSC to deal with the imperative of making investments in knowledge and management skills. Originality/value-There is a growing body of literature on the limitations of traditional accounting statements that measure tangible, physical assets to capture the current and future value of knowledge. This paper illustrates a framework using the BSC to manage and measure the intangible nature of knowledge.

Background: Within food-based approaches to improve nutrition during the first 1000 days of life, improved formulations of food products and the use of animal source foods, such as fish, are 2 widely cited strategies; however, there are few examples where the 2 strategies are combined. Furthermore, although small indigenous fish are highly nutritious and available to the poor in many regions of the world, their importance is often overlooked. Objective: To document the development of 2 nutritious fish-based food products in Bangladesh: a chutney for pregnant and lactating women (PLW) and a complementary food (CF) for infants and young children (6-23 months), including potential contributions to recommended or desirable nutrient intakes in the first 1000 days, processing methods, and nutrient composition. Methods: Local nutrient-rich ingredients and simple processing methods based on traditional knowledge (for the chutney), and a literature review (for the CF), were selected and trial batches produced. Products were analyzed for nutrient composition using standard analytical procedures and results compared with recommended or desirable nutrient intakes for women and children. Results: Both products could contribute significantly to micronutrient intakes of PLW (24% of iron and 35% of calcium recommended intakes) and macro-and micronutrient intake of infants and young children (65% of vitamin A, 61% of zinc, and 41% of iron desirable intakes) when consumed in the proposed serving size. Conclusion: Inclusion of small indigenous fish as an underutilized animal source food in combination with other local nutrient-rich ingredients in food products represents a promising food-based strategy to improve nutrition, with many additional potential benefits for communities involved in production, and therefore warrants further investigation.

In an evolving business environment characterised by globalisation and a challenging competitive paradigm, it is imperative for strategic management processes to focus on the financial perspectives of value and risk in intellectual capital to create sustainability in long-term value. This paper presents the key issues pertaining to the strategic management of value and risk in intellectual capital and presents some hypotheses for a strategic management framework based on identified underlying value-drivers, which in turn helps to focus and address the issue of risk management more adequately. The pervasive value-drivers in three intellectual capital-intensive sectors in Australia are identified from an analysis of case studies, then specified and extrapolated to provide implications for the strategic management of value and risk in the knowledge-based firms. The strategic management implications of these value-drivers are discussed and explained.

Purpose -The purpose of this paper is to link two key disciplines in finance and science in a way which is representative of the many challenges in the development of the knowledge economy. However, the valuation of intangibles remains a contentious issue in finance. Design/methodology/approach -In this paper, the financial and economic issues pertaining to the valuation of intellectual capital are evaluated and addressed. Findings -An important aspect of raising capital is the ability to impute a fair value on the asset.Research limitations/implications -The investigative process involves evaluating and assessing the appropriateness and efficiency of current models and finds them to be inadequate in yielding the true value of intellectual capital employed in knowledge-intensive firms. Practical implications -A new methodology for valuation is indeed required, and this value driver valuation processes may produce significantly better understandings of the worth of intellectual capital in the knowledge economy. Originality/value -This paper evaluates various methods that are currently used and recommends the development of a valuation process for new and evolving technologies.

The investments in intellectual capital by firms in the knowledge economy are a critical driver for growth, profitability and competitiveness. This paper reviews the basic option-pricing models for pricing financial instruments and evaluates their characteristics in relation to their applicability to intellectual property, focusing on two distinct characteristics, i.e. past decisions that influence future technological options, and the inherent uncertainty over future innovation opportunities. The findings in this study include the discovery and confirmation of certain financial characteristics that are important for the successful implementation of the option-pricing methodology in high technology financial planning and management. This paper attempts to summarise the current strand of literature pertaining to the use of option pricing in the intellectual capital-intensive sector by evaluating their strengths and weaknesses, and make recommendations as to how they can be effectively addressed to produce better results in the valuation process.