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Introduction: Visualising the invisible: Measuring and reporting on intangibles and intellectual capital
... Against the backdrop of globalisation, international institutions like European Commission, Organisation for Economic Co-operation Development, United Nations and Brooking Institution are promoting the role of intangibles in wealth creation (Zambon & Marzo, 2007). The preliminary results of the Policy making, Reporting and measuring, Intangibles, Skills development and Management (PRISM) research initiative find that there is a clear shift from tangible to intangible factors in order to create, maintain or invade monopolies founded on intangibles (Eustace, 2003). ...
Organisational success has become the focus of a growing body of research in the field. In this chapter, the authors argue that although Key Performance Indicators (KPIs) are useful for tracking tangible performance drivers, KPIs cannot adequately measure intangible performance drivers. They suggest that Key Intangible Performance Indicators (KIPs) are often the essential characteristic that drives the success of organisations. Top management should incorporate both KPIs and KIPs into success strategy in order to generate a complete picture of the overall performance of organisations. Evidently, there is a significant shift of emphasis from measuring tangible to intangible performance measures. Drawing from the Resource-Based View (RBV), superior performance is attributed to superior resources, and this helps explain why organisations should unlock the full potential of tangible and intangible resources and capabilities in attaining sustainable competitive advantage. In the face of globalisation, organisations need to transform themselves to be highly competitive in order to stay ahead of competition and at the forefront of their industries. The development and application of KIPs will be a strategic move to provide further insights and an impetus for continual improvement. The authors fill a gap in the resource-based literature by identifying four critical KIPs that influence the success of organisations, and they are leadership, innovation, reputation, and employee satisfaction.
... Against the backdrop of globalisation, international institutions like European Commission, Organisation for Economic Co-operation Development, United Nations and Brooking Institution are promoting the role of intangibles in wealth creation (Zambon & Marzo, 2007). The preliminary results of the Policy making, Reporting and measuring, Intangibles, Skills development and Management (PRISM) research initiative finds that there is a clear shift from tangible to intangible factors in order to create, maintain or invade monopolies founded on intangibles (Eustace, 2003). ...
The paper reviews the concept and trend of Key Intangible Performance indicators (KIPs) for organisational success. Although KPIs are useful for tracking tangible performance drivers, KPIs cannot adequately measure intangible performance drivers. Therefore, organisations need to look for KIPs (which measure intangible drivers) in order to generate a complete picture of overall performance of organisations. Evidently, there is a significant shift of emphasis from measuring tangible to intangible performance measures in order to tap the full potential of intangible resources. It makes logical sense for organisations to unlock the intangible values for achieving and sustaining competitive advantage. In the face of globalisation, organisations need to transform themselves into highly competitive organisations to stay ahead of competition and at the forefront of their industries. The development and application of KIPs will be a strategic move to provide further insights and an impetus for continual improvement. From the literature review conducted, it is found that there are many diverse KIPs drivers which impact organisational success. And the most important drivers identified in this paper are leadership, innovation, company image and reputation, and employee satisfaction.
The chapter explores the tool of Integrated Reporting (IR) with its definition and purpose. It provides a description of the structure of this type of report and considers its strengths and weaknesses, as well as the factors that favor its adoption.
Обґрунтовано необхідність удосконалення чинної моделі обліку інноваційного капіталу в умовах становлення економіки знань. Проаналізовано існуючі підходи до визнання внутрішньостворених нематеріальних активів у П(С)БО 8 «Нематеріальні активи» та в МСФЗ 38 «Нематеріальні активи». Проаналізовано критерії визнання / невизнання розробок підприємства як внутрішньостворених нематеріальних активів згідно з МСФЗ 38. Виявлено відмінності між МСФЗ та іншими національними і міжнародними моделями обліку в частині обліку та визнання досліджень та розробок. Висвітлено проблеми зловживань суб’єктів організації обліку при капіталізації розробок підприємства. Обґрунтовано існування змішаної моделі обліку нематеріальних активів у МСФЗ. Сформовано два варіанти розвитку чинної моделі обліку досліджень і розробок, на сьогодні реалізованої в МСФЗ та НП(С)БО (удосконалення системи критеріїв, що використовуються для визнання розробок, виходячи з позиції прогресизму; розкриття в примітках до фінансової звітності більш деталізованої інформації про причини прийняття рішення про капіталізацію розробок).
The paper reviews the concept and trend of Key Intangible Performance indicators (KIPs) for organisational success. Although KPIs are useful for tracking tangible performance drivers, KPIs cannot adequately measure intangible performance drivers. Therefore, organisations need to look for KIPs (which measure intangible drivers) in order to generate a complete picture of overall performance of organisations. Evidently, there is a significant shift of emphasis from measuring tangible to intangible performance measures in order to tap the full potential of intangible resources. It makes logical sense for organisations to unlock the intangible values for achieving and sustaining competitive advantage. In the face of globalisation, organisations need to transform themselves into highly competitive organisations to stay ahead of competition and at the forefront of their industries. The development and application of KIPs will be a strategic move to provide further insights and an impetus for continual improvement. From the literature review conducted, it is found that there are many diverse KIPs drivers which impact organisational success. And the most important drivers identified in this paper are leadership, innovation, company image and reputation, and employee satisfaction.
Over the past 15–20 years, the margins of industrial classifications, corporate balance sheets and GDP have been altered to capture knowledge as a new category of value. This has resulted in the institutionalization of categories such as an information economy (1997), intangible assets (2001) and, most recently, a knowledge-adjusted GDP (2013) in these calculating technologies. By harnessing knowledge as a manageable and valuable object, these shifts are responding but also contributing to the concept of a knowledge economy. This paper investigates the conditions necessary to anchor these new categories of value. The analysis attends not only to the changing rules and regulations, but also to the rhetorics of visibility/invisibility, materiality/immateriality, and measurability/immeasurability used to make a case for these transformations.
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