Bertrand Duperrin's Library tagged intangibleassets →  View Popular, Search in Google

"I guess it’s time to talk about Accounting for Intangible Assets: There is Also an Income Statement by Stephen Penman. When this new paper first came out from the Center for Excellence in Accounting & Security Analysis at Columbia University, I decided to ignore it as an apology for current accounting standards–which are completely inadequate for the knowledge era.

But now the paper is getting more attention so I feel the need to answer it."

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"It's rare a singular metric like turnover or a customer survey score is by itself a good measure of an organization's performance. Most of the more meaningful measures on dashboards of executives today are indices, made up of three to five submeasures. I review the nine most useful and creative performance measures I have seen in government and business organizations over the last few years."

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"This is contradicting but shows the challenge as well, because more than 75 percent of the average market value is from intangible assets. The challenge is that these aren’t quantified in financial metrics. Intangible assets consists of human-, organizational- and information capital. "

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"I have been really heartened to see more attention to the way that the intangible information gap skews investors’ understanding of what’s really going on in today’s knowledge-driven companies. This latest article comes on the heels of a Reuters piece last month calling for getting intangibles on the balance sheet."

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"HR and learning and development (L&D) have come in for some serious criticism over the years, in terms of value for money. If I felt they needed defending I would suggest that managing people in organisations is a much more complex affair than most operational managers realise or are prepared to admit. Certainly HR administration can become very costly if not managed well."

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If you understand human and relationship capital, you can start a business. If your business creates value for your customers, you can earn a good living. But you will never grow large or particularly rich with just these two kinds of knowledge assets. This is because the real promise of the knowledge economy comes in the creation of structural capital, that is, knowledge that gets captured and institutionalized in an organization."

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"One of the great strengths of the intangible capital (IC) perspective is the lessons it gives around business model and organizational sustainability. The IC Value Drivers Report for this services company provides a great example of this.

By way of background, IC Value Drivers include ten categories of the intangibles that are create the unique competitive advantage of companies today."

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"The rise of the knowledge economy has broken this model. The balance sheet does not include intangibles. Investments in intangibles instead are mixed in with current year operating expenses. And no one knows how much is spent on building intangibles within an organization."

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"Ce dossier est une forme d'introduction à la thématique.
Au programme pour cette première version :
- Mesure des intangibles
- Exemple de mesures qualitatives"

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L’immatériel constitue aujourd’hui un enjeu incontournable pour l’ensemble de l’économie. A en croire certains, les actifs immatériels ont un rôle non négligeables en termes de croissance. C’est la raison pour laquelle nous aimerions approcher avec vous le profil macroéconomique de cette «nouvelle» économie de l’immatériel.
Tout d’abord, si vous me le permettez, il est nécessaire de clarifier les définitions et les différents concepts dont on parle, et avec lesquels tout le monde n’est pas forcément familier.

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In the industrial economy, we had lots of ways of measuring our work. It was a mostly physical process so we could literally see what was going on. Our financial systems were built around this industrial model and we could also put dollar values on products as they progressed through factories and machines, converting raw materials into finished goods.

The shift to a knowledge economy has changed that. A lot of the value created today happens inside peoples’ heads or their computers. This is the case in service and technology businesses but even in manufacturing settings where it is the process, not the product, that creates so much of the value.

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Mais plus encore que la démonstration, les dirigeants devront sensibiliser les employés sur le fait qu’un projet de transformation n’a pas pour seul objectif d’améliorer le profit de l’entreprise, son expansion / ou sa survie sur le marché. Il a également pour objet de créer des avantages intangibles, tels que le développement des compétences et du travail en équipe, la création d’un environnement de travail plus satisfaisant et bien d’autres avantages encore.

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Intellectual Capital (IC) - This is a phrase and a concept which was popularized in the 1990’s to explain the significant shift in our economy and businesses as knowledge became the key competitive advantage in the global market. The focus of IC is how intangibles are manifest in an organization. The field of intellectual capital has identified three main categories of intangibles, each of which has a different character. It is important to understand individual intangibles as well as how they work together as a whole:

* Human Capital - This includes all the talent, competencies and experience of your employees and managers. This is the intellectual capital that “goes home at night.”
* Relationship Capital - This includes all key external relationships that drive your business, with customers, suppliers, partners, outsourcing and financing partners, to name a few. This kind of capital also includes organizational brand and reputation. Due to the growing importance of networks in organizational structures, this is also sometimes called Network Capital.
* Structural Capital - This includes all knowledge that stays behind when your employees go home at the end of the day. There is significant structural capital in today’s organizations including recorded knowledge, processes, software and intellectual property.

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As the late mathematician Richard Hamming tartly observed, “The purpose of computing is insight, not numbers.” That’s also the goal of innovative metrics. The measure of the success of innovative metrics is how clearly they convey the value - and risks - of the innovation. Watt’s steam engines, P&G’s soap, and Intel’s microprocessors might well have dominated their markets without novel metrics. But for these businesses and many others, innovative metrics made selling their products to a large number of customers a much less difficult prospect. Indeed, as many innovators are learning, oftentimes the best way to take the mea­sure of a new market is to create a new measure for the market.

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In developed economies today the most important factors associated with corporate competitiveness and growth are invisible. These intangible assets – collectively called intellectual capital – range from staff and management skills, software, R&D, brands and patents all the way to strategies, processes, and relationships with suppliers and customers. Yet despite its paramount importance, intellectual capital is still neither reported by companies nor valued by capital markets systematically and broadly.

The current state of accounting for a company’s assets, developed over centuries according to evolving economic needs, is not synchronised with today’s economic reality. If this less than full treatment of intellectual capital is continued, the associated adverse effects could be far-reaching: the cost of capital could remain inadequately high for many companies (particularly for those innovative, highly knowledge-intensive ones), investors and lenders might risk missing out on potential opportunities, and the economy on potential growth.

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“We are going to look at this moment as the transition from the world in which the U.S. made things that were physical and tangible goods to the U.S. making things that are intangibles, ideas, not just services but things that have some longevity and value to others…In the interim here, we will see an enormous amount of unemployment and dislocation. But if we look forward a couple years, we are going to see an economy is in fact creating jobs, just a different kind than we are used to.”

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In the 21st century, comparative advantage will become much less a function of natural resource endowments and capital-labour ratios and much more a function of technology and skills. Mother nature and history will play a much smaller role, while human ingenuity will play a much bigger role.

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L’effondrement de la société industrielle est déjà en train de se passer. La seule chose que nous pouvons faire, c’est éviter que l’effondrement ne soit une catastrophe sociale et écologique. Il y a une très forte tendance de croire que le libre marché va tout résoudre. Or, le libre marché ne peut pas tout résoudre et certainement pas dans la Société de la connaissance. Les industries continueront de produire des objets mais avec moins de main-d’œuvre. Elles s’automatisent complètement ou externalisent davantage vers l’Asie. Demain, 70 à 80 % de la population travaillera dans des services immatériels. La valeur immatérielle de l’entreprise devient son atout principal. C’est ce qu’on appelle l’intangible asset, l’acquis immatériel.

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“You have to think about your employees as your most important and valuable asset.”

Business analytics / business intelligence leader SAS is an incredible success story that owes its success to many factors, not the least of which is its employees:

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