In strategic management literature, the human capital implicated in a firm's employees has already for a couple of decades been considered as an important strategic resource (or asset) for a firm. Obviously, in "knowledge economy", the value of this particular type of knowledge has become increasingly important, especially in knowledge-intensive and creative industries (such as financial services, IT, or biotechnology)
The academic world is often considered to be isolated from the real world. However, now that the world is struggling with an unprecedented financial crisis, one must (at last) pay attention to the role that academic theories may have in the real-world developments.
