Knowledge asset-based three-stage model of innovative enterprises evolution

Innovative enterprises achieve sustainable competitive advantages by means of innovation instead of anything else. During this process, knowledge assets and the value-adding activities related always play a fundamental role which changes in accordance with the evolution of sustainable competitive advantages and results in the evolution of different business models of innovative enterprises. Based on the analysis of these correlative changes, the knowledge-based three-stage model of innovative enterprises evolution is proposed. Basically, it illustrates the development of innovative enterprises from technology management, to innovation management, and to intellectual property operation. At each stage, the types of knowledge assets and core value-adding activities are summarized and the according business model of innovative enterprises is suggested respectively. The hypotheses are further testified with a case study of Baosteel Group Corporation in China and the policies for incubating innovative enterprises are suggested thereafter.