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Intellectual Capital Management

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Evolution of Intellectual Capital Management has redefined the perspectives of Finance and Corporate Performance

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Intellectual Capital Management

  1. 1. Intellectual Capital Management Dr. Elijah Ezendu FIMC, FCCM, FIIAN, FBDI, FAAFM, FSSM, MIMIS, MIAP, MITD, ACIArb, ACIPM, PhD, DocM, MBA, CWM, CBDA, CMA, MPM, PME, CSOL, CCIP, CMC, CMgr
  2. 2. “Intellectual capital is like a newly discovered, still uncharted ocean, and few executives understand its dimensions or how to navigate it.” - Thomas Stewart
  3. 3. What is Intellectual Capital? “Intellectual material - knowledge, information, intellectual property and experience - that can be put to use to create wealth” – Thomas Stewart “Representation of the financial value that human innovations, inventions, and intelligence bring to a business enterprise.” Source: H.P. Agency
  4. 4. • “In many cases, knowledge firms such as Microsoft, Xerox, Dow Chemical, Hewlett- Packard, Eastman Chemical and others have their marketplace value at a price far higher than their balance sheets warrant” • - Sullivan
  5. 5. “A company’s value is more than the tangible assets, the source of its value and wealth is no longer the production of material goods but the creation and manipulation of its intangible assets” - Goldfinger
  6. 6. Skandia Concept of Intellectual Capital Market Value Financial Capital value of all physical and monetary assets Intellectual Capital Human Capital ‘thinking’ • competence (knowledge and skills) • attitude (motivation, behaviour, conduct) • intellectual agility (innovation, imitation, adaptation) Structural Capital ‘non-thinking’ Customer (Relationship) Capital customers, suppliers, shareholders, alliance partners, other stakeholders Organisational Capital • infrastructure • processes • culture Innovation Capital renewal and development value Process Capital Intellectual Property Intangible Assets Developed by Leif Edvinsson
  7. 7. Adam and Oleksak Concept of Intellectual Capital Market Value Intellectual CapitalFinancial Capital Human Capital Structural Capital Relationship Capital Business Model Management Employees Processes Intellectual Property Customers Brand Network
  8. 8. Current Concept of Intellectual Capital Market Value Intellectual CapitalFinancial Capital Human Capital Structural Capital Relationship Capital Spiritual Capital Management Employees Processes Intellectual Property Customers Brand Network Business Model
  9. 9. Human Capital This indicates tacit knowledge, skills, abilities and experience embedded in individuals within an organization. It stands out as collection of competencies based on skills, knowledge, abilities including leadership qualities of management and general attitudes characterized by motivation in the firm as well as intellectual agility for adaptation, innovation and cross-fertilization.
  10. 10. Structural Capital It represents knowledge and rules embedded within organizational routines, including mechanisms and structures of the organization, assets linked to methodologies, technologies and processes, licenses, patents, trademarks, research and development strength, in addition to architectural competencies which enable a firm to integrate component competencies in new and flexible ways and build new competencies in accordance with recommendation or requirements.
  11. 11. Relational Capital This involves every existing business network linking an organization to partners (distributors, suppliers and alliance associates) at higher and lower regions of its value stream; the scope of organizational and product brand, corporate image and perceptible reputation; in addition to building blocks of customer base, customer loyalty, customer-centricity quotient and market connectivity.
  12. 12. Business Model This is a scheme showing how a firm intends to provide offerings and obtain revenue in return. It’s characterized by competitive ability, market control and business development strength.
  13. 13. Spiritual Capital This stands for virtues, divine principles, extraterrestrial guidance and faith which operate within an organization.
  14. 14. “There is no other kind of capital that really works without an underlying base of spiritual capital.” - Zohar D. and Marshall I.
  15. 15. Intellectual Capital Management Evaluation Guide Intellectual Property Management Intellectual Assets/ Knowledge Management Managing IC Creation IC Value Creation IC Value Management IC Value Extraction Strategic IC Management Source: Canadian Institute of Chartered Accountants
  16. 16. Determinants of Value Creation Value Creation Formula Value Realization Formula Value Creation Capacity Value Creation for Key Stakeholders Value Stream Modeling Value Creation Reality Value Creation Analysis
  17. 17. Mining Intellectual Capital Human Capital Intellectual Assets Intellectual Property Value Creation Value Extraction
  18. 18. Why should a firm establish Intellectual Asset Strategy? i. It drives management activity ii. It facilitates value extraction process iii. It enhances profitability iv. It boosts research and development
  19. 19. “Approximately 70% of the asset value of firms on the NYSE is derived from their intellectual capital. In this information age, as business value continues to accrue to “soft” assets such as business processes, trade secrets, and know-how and away from physical forms such as property and equipment, companies are increasingly aware of the need for intellectual asset protection.” - Ian Reid
  20. 20. The Focus of Intellectual Asset Strategy  Positioning as framework to ensure IP activities of a firm is consistent with corporate strategy, business strategy in addition to research and development strategy.  Creating Competitive Advantage: a. Early recognition b. Market penetration c. Market control d. Pricing premium
  21. 21. Types of Intellectual Asset Strategies Defensive and Offensive Strategies for attaining the following: i. Design Freedom ii.Market Freedom
  22. 22. Value Extraction Strategies • Licensing • Franchising • Combination of Strategic Alliances • Divestment and Spin-Off • Financing Options • Merger and Acquisition
  23. 23. The Value of IP to a firm  Create Competitive Advantage: Block competitors, exploit new market opportunities, reduce risks and build loyalty.  Establish Proprietary Knowledge: Protect technologies and business techniques, enhance research and development, improve effectiveness of branding, anticipate shifts in technology and market.  Boosts Financial Performance: Obtain new revenues from IP, attract additional capital and reduce cost.
  24. 24. Oversight of innovation process Patenting decision Generating new patents Portfolio maintenance Competitive assessment Valuation Budget & patenting fee decision Enforcement decision Patent portfolio database Patent portfolio database Business and Market Strategy Review and Analysis Commercialisation decision Conversion mechanism decision Source of new innovation decision Initial valuation decision Competitive assessment database Competitive assessment database internal source external source A Generic IP Management System, Functions and Decision Processes
  25. 25. Steps for Managing Intellectual Asset IAM Value Drivers Improved Management Decisions Effective R&D Lower cost Increased Revenue Competitive advantage IAM Tactics link IAM process to Value Extraction
  26. 26. A veritable patent strategy positions a firm for proper patent portfolio management and unlocks great fortune.
  27. 27. Dr Elijah Ezendu is Award-Winning Business Expert & Certified Management Consultant with expertise in Interim Management, Strategy, Competitive Intelligence, Transformation, Restructuring, Turnaround Management, Business Development, Marketing, Project & Cost Management, Leadership, HR, CSR, e- Business & Software Architecture. He had functioned as Founder, Initiative for Sustainable Business Equity; Chairman of Board, Charisma Broadcast Film Academy; Group Chief Operating Officer, Idova Group; CEO, Rubiini (UAE); Special Advisor, RTEAN; Director, MMNA Investments; Chair, Int’l Board of GCC Business Council (UAE); Senior Partner, Shevach Consulting; Chairman (Certification & Training), Coordinator (Board of Fellows), Lead Assessor & Governing Council Member, Institute of Management Consultants, Nigeria; Lead Resource, Centre for Competitive Intelligence Development; Lead Consultant/ Partner, JK Michaels; Turnaround Project Director, Consolidated Business Holdings Limited; Technical Director, Gestalt; Chief Operating Officer, Rohan Group; Executive Director (Various Roles), Fortuna, Gambia & Malta; Chief Advisor/ Partner, D & E; Vice Chairman of Board, Refined Shipping; Director of Programmes & Governing Council Member, Institute of Business Development, Nigeria; Member of TDD Committee, International Association of Software Architects, USA; Member of Strategic Planning and Implementation Committee, Chartered Institute of Personnel Management of Nigeria; Country Manager (Nigeria) & Adjunct Faculty (MBA Programme), Regent Business School, South Africa; Adjunct Faculty (MBA Programme), Ladoke Akintola University of Technology; Editor-in-Chief, Cost Management Journal; Council Member, Institute of Internal Auditors of Nigeria; Member, Board of Directors (Several Organizations). He holds Doctoral Degree in Management, Master of Business Administration and Fellow of Professional Institutes in North America, UK & Nigeria. He is Innovator of Corporate Investment Structure Based on Financials and Intangibles, for valuation highlighting intangible contributions of host communities and ecological environment: A model celebrated globally as remedy for unmitigated depreciation of ecological capital and developmental deprivation of host communities. He had served as Examiner to Professional Institutes and Universities. He had been a member of Guild of Soundtrack Producers of Nigeria. He's an author and extensively featured speaker.
  28. 28. Thank You