Better Balanced Economies — A Management Challenge for the 3rd Millennium

The incorporation of non-economic indicators in corporate management systems could help to bridge the gap between poor and rich economies. We propose the capitalisation of labour costs, the provision for costs caused in indirect value chains, environmental and social measures in scorecards, new remuneration schemas for managers, and a change in management attitudes towards knowledge management. The application of the combination of the proposed concepts could positively influence the distribution of wealth and resources, as societies could become more balanced world-wide. We are convinced that the proposed scorecard measures and the necessary change in management behaviour must be driven and supported by knowledge managers operating in world-wide value chains.