Any company’s efforts to counter or mitigate the potential, but, very real adverse affects of competitor intelligence absolutely begins with understanding its intangible assets!
Conventional (stand alone) business asset valuations may be irrelevant insofar as providing decision makers with the necessary insight and perspective to more effectively utilize and leverage asset value.
One of Dr. Deming’s ‘seven deadly diseases of management’ is ‘running a company on visible assets’ (alone). Was this Dr. Dennings’ reference to intangible assets?
Stewardship, oversight, and management of a company’s intangible assets can be the difference between (a.) looking out ahead, and (b.) looking through a rearview mirror!
Even though most companies do not have formal R&D units, many have vast amounts of proprietary know how that facilitate and enhance services and/or products that deliver competitive advantages, goodwill, reputation, revenue, etc.
Without a clearer picture of how intangible assets develop and flow within a company and contribute to profitability and deliver ‘return on investment’, business decision makers continue to show reluctance to devote time and resources to learning about – trying to harness those assets.