ⓘ Knowledge balance sheet. A knowledge balance sheet is an instrument for structured identification, representation and development of intellectual capital. It sh ..

                                     

ⓘ Knowledge balance sheet

A knowledge balance sheet is an instrument for structured identification, representation and development of intellectual capital. It shows the connections between organizational goals, business processes, intellectual capital and business success. It is able to reveal the mutual influence between the factors of success and the most efficient investment levers, specifies the strategic direction for knowledge management processes and checks the degree to which they have been implemented.

                                     

1. Two views

View from the

  • inside as a management instrument: the measurement and assessment of the intellectual capital can be systematically controlled, developed and reflected upon.
  • outside as a reporting instrument: stakeholders obtain reliable data on the intangible assets and on the future-fitness of the enterprise.
                                     

2. Benefits

  • organizational development
  • communication with shareholders
  • cost/benefit ratio of knowledge development
  • uncovering weak spots and potentials for maximizing business success
  • synergies with existing mgmt. systems QM, risk mgmt.
  • customer orientation
  • cooperation
  • transparency
  • understanding of interrelationships
  • capital acquisition

Indirect benefits

  • employees understand their company better
  • gathering and definition of intellectual capital allows clearer communication
  • increased attractiveness for employees and cooperation partners
  • process optimization and innovation
                                     

3. Prerequisites

  • Management systems should already be utilized
  • documented and communicated business strategy
  • openness for employees
  • Management
  • anxiety-free corporate culture
                                     

4. Criticism

  • connection between knowledge balance sheet and future revenue opportunities difficult to verify
  • Lack of generally recognized system
  • may exacerbate the asymmetry of knowledge between management and outside stakeholders
  • generally not verified by auditors
  • possible misuse as a marketing instrument
                                     
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