5071458
Description
Flashcards by Lukas Choo, updated more than 1 year ago
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Created by Lukas Choo
about 8 years ago
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| Question | Answer |
| Intellectual Capital - Explanation | • Intellectual material-knowledge, information, intellectual property and experience that can be used to create wealth • The idea is that IC is composed of human capital, structural capital (features that support the company) and relational capital (external stakeholder relations) • The organizational value consists of tangible and intangible assets, which are mostly undocumented in traditional accounting systems |
| Firm Value - formula | • Firm value = Book value (Assets + Liabilities) + intangible assets (IC) |
| Intellectual Capital - main categories/formula - defining strategy elements for growth | • IC = human + structural + relational capital |
| Human Capital, thinking | The cumulative knowledge, skills, and experiences in the organization (Employee qualification and experience, Leadership and social skills, Employee motivation) |
| Organizational (or structural) Capital, non-thinking | Organizational capacities. The embodiment, empowerment and supportive infrastructure of human capital (Corporate culture, Internal co-operation and organization, Product innovation, Process knowledge and optimization, Knowledge transfer and storage (e.g. idea bank)) |
| Relational (or customer) Capital | Relations to customers, suppliers and investors, External co-operation and knowledge acquisitions, Social commitment and public relations |
| What constitutes IC? | o Human capital, Skills, know-how, experience & creativity o Intellectual assets, Inventions, Processes, Data, Computer programs o Intellectual property, Patents, copyrights, trademarks, trade secrets, semiconductor marks, Designs, Drawings, Publications |
| What’s a value model? | A value model is a sketch of how value is created and transformed into assets (resources and capabilities) |
| Human Capital - Definition | People’s competencies, skills and capabilities, experience, and motivation to innovate. |
| Intellectual Capital - Definition | Organizational, knowledgebased intangibles, including: intellectual property, “organizational capital” and intangibles associated with brand and reputation. |
| BSC - Definition from Kaplan & Norton | BSC: a performance measuring system to quantify intangible assets, offers a framework for describing strategies for creating value from both tangible and intangible assets. |
| Strategy Maps - What to measure & manage? | 1. Value creation is indirect -Intangible assets (such as knowledge) seldom have direct influence on financial outcomes. 2. Value is contextual -The value of an intangible asset depends on its alignment with the strategy of a company 3. Intangible assets are bundled -Intangibles cannot be isolated from the organizational context |
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