Logicality and prudence play an important role in intangible asset intensive and dependent businesses…https://kpstrat.com/wp-admin/post.php?post=361
For business c-suites and management teams, either can be readily achieved…and can commence on behalf of – to benefit a business by, among other things, identifying and distinguishing intangible assets in one or multiples of the following contexts, i.e., their contributory role and value to/for…
1. pursing – developing a new (internal – external) venture or collaborative,
2. creating efficiencies within – throughout a business.
3. merging – leveraging existing intangible assets to create a new-complimentary service.
4. providing c-suites, management teams, and boards with tactical – strategic insights and ‘vital signs’ related to the (current) use – exploitation of a business’s (likely, already) embedded intangible assets.
5. favorably affecting the stability, fragility, defensibility, and risk exposures of designated (key) assets.
6. assessing – measuring (quantifying) performance of key-designated intangible assets, i.e., the how, when, what, where, and why related to their contributory role to either of the above.
7. ensuring the selection, acquisition, development, and exploitation of (certain, targeted, additional) intangible assets
a. align with – compliment business mission, strategic plan, and/or either of the above.
b. reflects the where, why, how, and when key intangible assets originate.
c. minimizes vulnerability, probability, and criticality of (intangible asset) materiality changes which may occur internally or externally.
8. exploring other-alternative business opportunities which can-should be logically considered by virtue of having achieved operational level familiarity with intangible assets, which include, among others…
a. creating strategic alliances or joint ventures, or other business arrangements- circumstances wherein designated intangible assets can be lucratively – competitively linked, shared, sold, transferred, or licensed internally or externally.
9. putting effective intangible asset safeguards in place to mitigate (potential) adverse cascading effects should certain risks materialize.
10. creating a business environment whereby control, use, and ownership of key intangible assets which are less likely to be challenged, ensnared, or entangled in costly, momentum stifling risks which have materialized including asset undermining events.
a. the latter often intended to adversely affect targeted – designated assets which deliver (higher) contributory roles and value to a business, i.e., revenues, competitiveness, resilience, and sustainability.
At this point, I suspect the following could be interpreted by some readers as an unnecessary reminder…that is, it remains a (globally) universal economic fact – business operating reality that intangible assets are indeed the dominant drivers of most company’s economic and competitive advantage health and value.
Unfortunately, intangible assets, not infrequently, still fall below (conventional) business school radar!
So, if – when any businesses intangible assets are overlooked, dismissed, or merely neglected…by whomever has the authority to do otherwise…https://kpstrat.com/wp-admin/post.php?post=142
- there is a substantial probability that such inaction and/or behavior will diminish – limit opportunities for achieving challenge free new project-product development and launches, competitive advantages which could be gleaned and exploited, among other circumstances which can adversely affect any businesses spirit of innovation.
- also, business modeling and strategic planning will surely be stifled, undermined, and otherwise compromised. When this occurs, one adverse outcome is both, will become more complicated, and costly, and elevate the probability-vulnerability-criticality that asset’s contributory roles and value will rapidly erode, or worse, ‘go to zero’!
Michael D. Moberly November 15, 2018 St. Louis email@example.com ‘The Business Intangible Asset Blog’ http://kpstrat.com/blog since May 2006 ‘where attention span, business realities, and solutions converge!
Readers are invited to examine other blog posts, papers, and books I have published at https://kpstrat.com/blog/papers