Question 1: During the past two decades, the worlds economy has rapidly changed from an industrial-based economy to a knowledge-based economy. In the new knowledge-based economy, wealth is created by managing knowledge (Ricceri and Guthrie, 2009).

Required:

1) Describe Intellectual Capital (IC). (05 marks)

2) Discuss the importance of managing IC in organisations. (10 marks)

3) Explain some of the approaches used by organisations for IC valuation. (10 marks)

(Total 25 marks)