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"What is your organization's most important asset? CEOs often respond that the organization's people are its greatest asset. But if this is true, where are people accounted for in the financial statements? Today, people are generally classified as expenses on the income statement and liabilities on the balance sheet -- not as an investable asset. Thus, when CEOs seek to increase profit, they cut costs -- like people -- rather than investing in assets -- like people -- that can appreciate. "
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In fact, investment advisory firm Ocean Tomo estimates that in 1975 more than 80% of the value in the S&P 500 firms consisted of tangible assets -- like land, plant and equipment. In 2010, approximately 80% of the S&P500 market value is attributed to intangible assets. But, today's accounting systems and financial reporting are still using 20th century definitions, creating a "gap in GAAP" (the Generally Accepted Accounting Principles) on how value is created in the 21st century.
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- historical cost,
- replacement cost, and
- opportunity cost.
In January 1967, the Harvard Business Review published, "Put People on Your Balance Sheet," which discussed various methodologies for classifying human resources as assets, including:
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"On ne peut pas envisager d’améliorer la place de l’humain dans l’entreprise sans changer la fonction Ressources Humaine. De la même façon, rien ne changera si on ne change pas la dénomination de la personne chargée de piloter cette évolution. Mais transformer le Directeur des Ressources Humaines en Directeur du Capital Humain cela implique quoi ?"
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Aujourd’hui parler de Ressources Humaines est dépassé. Hier, cette expression de Ressources Humaines est venue remplacer celle d’Administration du Personnel
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Nous sommes entrés dans un monde industriel, commercial et administratif où l’humain tend à se faire rare. A ce titre de rareté, l’humain n’est plus un facteur de production, il est devenu un investissement stratégique dans le capital immatériel de l’entreprise
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"The raw materials of the knowledge era are knowledge-based intangibles. You may be nodding your head as you read this. But do you really know what it means? If not, you are not alone. Knowledge continues to be seen as an amorphous, misunderstood part of business. This widespread ignorance isn’t helped by the vocabulary. The word intangibles itself is troubling because its very definition implies that an intangible is invisible, untouchable, and unknowable. The word knowledge is also very general and lacks a specific connotation for business value creation. Yet knowledge is the core asset of this century. "
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There are four basic types of knowledge assets that become the raw material for your value creation: human, relationship, structural and strategic capital.
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What has changed is that these knowledge intangibles have moved from a supporting to a star role in business models.
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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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Communication Effectiveness -- An important metric for organizations is one that measures how well they communicate to employees, suppliers, shareholders and others
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Customer Relationships -- Customer surveys are rarely effective in measuring the level of relationship an organization has with its clients or customers.
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