A New Year –New Challenges?
How well are you leveraging the value in your organisation?
Business may be buoyant or you may be going through a rough period but the key questions are still the same. How well are you leveraging the value in your organisation and how much value are you leaving on the table? How well will you be doing this out into the future? How does your future vector look and why should it be the way you predict? This value may be in the commercialisation of products or services, in the transaction of some of your core skills into other multiple value streams through joint venture, licensing, strategic alliance or sale, in the better application or use of your knowledge, or in the improvement of your capabilities or financial position. You may be a company, an educational establishment, a region or a country. Value may be purely financial or it may be of another dimension like jobs created or reputation earned or it may simply be described by how people feel, in other words their perception.
No matter what the issue of major concern to you today, one element, the intangibles, plays a fundamental and dominating role. Ignore these and you are only in control of a minority of the activity happening in your organisation. The way in which you create, nurture, manage and harvest the total assets in your organisation, the tangible and the intangible assets, will determine chances of future success. The way in which you select the route to value release, bearing in mind your capabilities and those of your competitors, significantly affects your possibilities of being successful. The complementary business skills you bring to bear will determine how deep and how fast you can reach your goals or, in their absence, may bar you from reaching those goals. The manner in which you approach these opportunities to create future activity or value streams will provide you with a springboard for success or for failure.
Managing the complete asset base, both tangible and intangible, is a new but well defined activity that has a proven track record. The core skills are variously described as intellectual asset management, intellectual capital management or knowledge management and must be combined with a good business process in order to yield success. When applied well, they are results driven activities. This new approach combines mission and vision with strategy and derives activities to leverage the tangible and intangible assets in line with the goals for your organisation. The know how, intellectual property, key people and tacit knowledge are combined and used along with the bricks and mortar assets of the organisation to sharpen the value extraction from potential rich areas and to avoid ploughing resources into low potential areas, all in line with the objectives of the organisation.
I would appreciate a conversation with regard to how such an approach can bring value to your organisation, and at the outset I must caution you that such an approach often leads to radical change in an organisation, and a cathartic move away from some approaches which are no longer appropriate. I look forward to your call or to your mail. |
