The Hidden Value in Your Intangible Assets
The excerpt below was taken from an article featured by Strategic Finance.
Read the full article here.
Ask senior executives to list the strengths of their companies, and you’re likely to hear: “Our people are our greatest asset.” It’s a cliché that’s too vague to be useful, but adding a few words uncovers an insight capable of unleashing a productivity revolution: “Our people and how they work are our greatest assets.”
The work methods of knowledge workers—those once labeled as white-collar employees—represent the majority of business value.
That brings to mind another cliché: “Our most valuable assets go down the elevator every night.” And while that statement usually applies to employees going home for the night, the case remains the same when employees leave the company: They take with them the knowledge of how they work. Yet most companies don’t see it as valuable enough to retain.
These clichés illustrate the strategic misperceptions surrounding the intangible assets of most businesses today: The work methods of knowledge workers—those once labeled as white-collar employees—represent the majority of business value…