Page 100 - Crossing Cultural Boundaries - Cees den Teuling

All above-mentioned functions are interrelated, taking into consideration that the relationship between transmitter and receiver is evolving over time. The network aspect of VC has been investigated by Ford and McDowell, (1999) who argue that the influences of actions, carried out in a transmitter-receiver relationship, should be analysed on four levels: the direct effects on a relationship, the generative effects on the relationship, the effects on the relationship portfolio and the impact of value activities, and the influence of value activities on the wider network of the transmitter and receiver.
In the following section, a comparison between the Russian and Western contrasting perspectives on SVC is discussed, elaborated and valued.
2.8.1 Contrasts of Sustainable Value Creation: Russian and Western perspectives
The implementation of intellectual capital in Russian organisations to establish ensured SVC shows that there is a strong tendency to invest in tangible assets, rather than in intangible assets, since the period for ROI is relatively shorter. In contrast, there are some, mainly smaller organisations, often SME’s with a high level of labour productivity, producing market oriented products and services and rewarded by additional profit (Volkov & Garanina, 2007). These innovative leaders among Russian organisations understand the roles of intellectual capital in the creation of SVC, investments in fixed capital, expenditures in research and development and, overall, prefer a manageable size of organisation.
Among Russian economic scientists, the focus on the research of the position of intellectual capital in Russian organisation is nearly not existent. Only the contributions of Baiburina and Golovko (2008), Goncharova, Kartasov, and Gavrilov (2009) and some others, have been located. Russia’s economical and institutional regimes have an impact on the efficient implementation of existing or new knowledge, to be transformed in SVC (Molodchik & Bykova, 2011). Compared with the practices in Western countries, research by Erik Sveiby (2007) and colleagues, demonstrated that the input of intellectual capital has a proven and positive impact on market share and value, productivity level, sales growth and the capital return on assets (ROA).
Baiburina and Golovko (2008) researched data from 19 open (registered on the Moscow’ Stock Market) Russian enterprises in the period from 2002 through 2008 and determined the intellectual enterprise value as the difference between the market value of their shares in the stock market and the balance value of equity. Influence is shown
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