During the age of the Industrial Revolution, the most important component driving business success was financial capital. Finance gave companies access to markets and funding. As it gave way to the twentieth century, two other important aspects were added. They were natural and human capital. The former provided companies with seeming unlimited resources, while the latter enabled the best of talent recruitment. Now in the digital age, three more forms of capital have further been added. They are behavior, cognitive and network capital, collectively known as BeCoN. The most successful of companies in the ongoing digital age – Apple, Amazon, Alphabet (Google), Facebook and Microsoft- are those who have all six of these forms of capital in abundance. Behavior capital is the process of data warehousing which enables companies to track enormous amounts of customer related behavioral insights which can be processed before decision making. Cognitive capital includes algorithms that help break such data sets through codified knowledge flows. Network capital is what keeps all the other points connected to each other. It encourages collaboration and has led to the establishment of the sharing economy exemplified by the likes of Netflix.

Source:https://www.strategy-business.com/article/The-Bionic-Company?gko=25219

Uploaded Date:17 March 2018