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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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knowledge that has been captured and becomes part of the organization. It is the infrastructure of the knowledge factory that is your intangible capital.
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Because the truth is that structural capital is the Holy Grail of knowledge economy. It is the way that your organization captures knowledge and makes it re-usable
"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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Structural Capital is the way that organizations operationalize their capabilities and turn them into repeatable, scalable processes and technologies
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The promise of the knowledge era is the scalability of structural capital. When the knowledge of your people and your network are operationalized into re-usable information and tools, everyone is smarter when they come to work in the morning.
"The Internet is ultimately about sharing knowledge, making connections and collaborating to put knowledge to work. This makes it the platform for much of what your organization will do in coming years. But the Internet is the exception to the rule as networks go. Most networks are smaller, with limited size and, usually, a specific purpose. Every organization today is itself a network that is made up of many smaller networks. This means that, without a doubt, you need to understand networks. "
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And you need to learn to think of your organization as a network, your people as participants in networks and your work processes as themselves as networks.
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This form of model shows the unique combination that your organization creates by connecting human and relationship capital through structural capital.
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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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On average, roughly 80% of the value of today’s corporation is intangible.
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