Michael D. Moberly September 12, 2013 ‘A blog where attention span matters’.
An essential starting point for elevating managerial familiarity with intangible assets is to bring business, economic, and operational clarity to what intangibles’ are, how/where they originate, and what contributions they make internally and externally to a company’s bottom line.
Precisely how intangibles contribute to and merge with (compliment) existing business practices to render them more effective and efficient often occurs overtime absent immediate notice from management team oversight or monitoring. In other words intangibles routinely evolve and become embedded as intellectual, relationship, and structural capital without fanfare until it becomes evident that new and/or additional efficiencies have occurred or there’s been a rise in product/service sales, company reputation, brand, value, competitive advantages, etc. If a management team elects to ‘lift the veil’ to learn how, why, and drill down to learn what prompted/influenced those positive changes, they will often find embedded intangibles such as…
employee sparked intellectual and structural capital (know how, processes) directed toward improvements in relationship (capital) among stakeholders and consumers.
To achieve this level of operational familiarity in assets’ stewardship, oversight, and management context, can merely be a matter of unraveling the origins of a single asset and determining – assessing its contributory value to the improvements.
Such exercises are informative and frequently prompt varying levels of management team self-reflection not just about the contributory value of intangibles, but perhaps more importantly, reorient their training to reflect the development and integration of intangibles.
Another positive outcome of this exercise is that management teams will be more inclined to exude an appreciation for intangibles that spills over to all employees.
What Is Intangible Asset Management?
Effective management of a company’s intangible assets occurs when management teams are consistently committed to…
Being attuned to – engaged in the stewardship, oversight, and monitoring of the assets’:
- collaborative – contributory value,
- materiality, and
- risks to the company, its core mission, competencies, and strategic planning initiatives
Executing effective processes and procedures to ensure:
- control, use, ownership, and value (of the assets’) can be sustained (preserved and monitored)
- throughout the assets’ respective life, value, and functionality cycle
- to accommodate specific business needs and/or strategic initiatives.
Pursuing prudent strategies to:
- leverage and showcase their intangibles
- build and strengthen competitive advantages, structural and relationship capital throughout the value-supply chain, among consumers and stakeholders.
Bringing business clarity to:
- the development and effective-efficient utilization of intangibles, and
- converting them into sources of revenue, value, and competitive advantage.
- relevance, contributory, and collaborative value to company products, services, processes, and transactions, etc.,
- in play in joint ventures, strategic alliances, mergers, acquisitions, etc.
Ensuring intangibles are routine action-discussion items on c-suite and board agendas.
Consistently exploring ways to
- utilize intangible assets to create efficiencies
- effectively and attractively bundle (wrap, package) intangibles to make them more useful, increase their contributory value, create new sources of revenue, competitive advantages, or enhance brand and reputation.
- mitigate asset risks.
- position intangibles to attract external sources of investment and/or leverage (articulate) as collateral for asset-backed lending proposals.
Each blog post is researched and written by me with the genuine intent it serves as a useful and respectful medium to elevate awareness and appreciation for intangible assets throughout the global business community. Most of my posts focus on issues related to identifying, unraveling, and sustaining control, use, ownership, and monitoring asset value, materiality, and risk. As such, my blog posts are not intended to be quick bites of unsubstantiated commentary or information piggy-backed to other sources.
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