What are business differentiators; the obvious ones, through these lens…readily roll off the tongue of even the most mediocre sales person. But frequently those differentiators are merely the most visible and only scratch the surface of a company’s embedded competitive advantages, or more correctly, its intangible assets.
I encourage management teams to…dig deeper and cast a broader net that encompasses an entire enterprise in order to truly reveal and unravel the often unrecognized and frequently taken-for-granted, but nevertheless increasingly valuable intangible assets that consistently serve as business differentiators.https://kpstrat.com/wp-admin/post.php?post=195&action=edit&rp4wp_parent=788
It’s no longer sufficient for management teams to merely…recite the proverbial ‘elevator pitch’ that espouses a company’s product compared to a competitor’s, or that their company’s advertising, marketing, and customer service are superior.
What really differentiates businesses, products, or inventions…of one company from its competitors today lies in such practical features as brand, reputation, image, and goodwill, each of which are, in most instances are collaborative, collective, or standalone intangible assets.
Equally important, the lens through which management teams identify and assess…their company’s intangible assets should not be in the same context as if they’re assessing an American quarter horse in a pre-race paddock relative to the mostly subjective prospects for that horse’s success in short quarter mile sprints.
Rather, management team’s lens should be adjusted to…consider the characteristics of intangible assets in play, i.e., one’s that are developed (bred) for endurance and stamina (sustainability, stability) to compete successfully in longer races and for a longer racing (revenue producing) career. https://kpstrat.com/wp-admin/post.php?post=883&action=edit&rp4wp_parent=788
In other words…the stability and sustainability of a company’s intangible assets are important indicators, insofar as their near and long term potential to consistently deliver ‘differentiators’, i.e., value, revenue, competitive advantages, and serve as building blocks for growth and future wealth creation.
Today’s absolute necessity for company management teams to…know and understand how to position, leverage, and extract value, and otherwise monetize intangible assets lies in the economic fact that 80+% of most company’s value, sources of revenue, and future wealth creation evolve directly from intangible assets.
Since intangible assets have such significant value and play such an integral – contributory role…in a company’s standing and potential success, practices must be in place to sustain their control, use, ownership, and monitor their value and materiality!
Michael D. Moberly December 23, 2011 St. Louis ‘Business Intangible Asset Blog’ where attention span and business realities meet.
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