| Abstract |
Purpose - Identification, categorization and appraisal of strategic assets are critical steps for effective resource management, while a full disclosure of their potential is the kernel of successful performance management. According to the Resource-Based View and to the Knowledge-Based View, Intangible Assets (IAs) are seen as key drivers for gaining sustainable competitive advantage and for value creation. However, there is still very limited consensus on how to reckon, classify and assess all the entities going under the name of Intellectual Capital. The purpose of this paper is to provide an integrated approach in order to develop a conceptual framework for mapping, gauging and tracking those strategic entities and formalizing an effective analysis and reporting model. This goal is achieved weighing the role of IAs for value creation/transfer in terms of their contribution to business performance. Design/methodology/approach - In this paper a possible solution is suggested: a flexible framework designed to achieve, on one hand, a value-driven identification of IAs and, on the other hand, an effective and actual "live" classification and rating, via a validated score of their contribution to value creation/transfer, in this way linking Intellectual Capital to business performance. The proposed framework is structured within an auditing approach, dialectically involving the firm's management. It results in a tailor-made scalable methodology composed of interlinked cascade steps intended to: identify the "value-IAs-performance" link; choose and target the proper KPIs and prioritization rules; build a set of synthetic weighted indicators returning the values of contribution thresholds. Originality/value - Instead of using a preset formula for assessing IAs and bounding the auditing process to traditional preset models, this flexible framework offers an open process as an alternative method for effectively gauging IAs. The novel contribution of this paper to Resource and Performance Management can be found considering three standpoints. First, an adaptive approach, where flexibility plays the starring role. Second, a conceptual one, where the detection of the "value-IAs-performance" connection is critical. Third, a procedural one, achieved through a two-ways cascade categorization: value-side and contribution-to-performance side, linked via a weighted binomial proxy. Practical implications - This approach could enhance middle managers' understanding of IAs and of their link with business performance, thus easing resource allocation and process improvements. In addition to this, with a operational control focus, it could be useful for identifying which key intangibles need to be carefully monitored and tracked in order to match organizational goals. Furthermore, the meta-knowledge embodied in its output could be used as a source of feedback, at a top management level, for planning and developing IAs-aware sustainable business models. In order to validate the framework usability and effectiveness, this model can easily be deployed not only within knowledge-intensive sectors but also in manufacturing ones, as the role of Intellectual Capital for gaining competitive advantage is a key one for every type of industry. |
