Intangibles: theory, categories, and the Kozminski matrix

Intangibles: theory, categories, and the Kozminski matrix

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Article ID: iaor20133715
Volume: 11
Issue: 2
Start Page Number: 101
End Page Number: 111
Publication Date: May 2013
Journal: Knowledge Management Research & Practice
Authors: , , ,
Keywords: business process modelling
Abstract:

Analyzing the strategic significance of a firm's intellectual capital separates tangible assets from intangible assets, and demands close attention to how the latter are valued. Conventional methods based on cost or market value are of little relevance. Ultimately, the analysis turns on who makes the estimate and to what end. We argue for a third source of estimates, the same managers whose application of strategic assets sets the value‐adding processes of the firm in motion. This is a constructivist approach that raises important theoretical and methodological questions about the nature of the firm and its value‐creating capabilities. Objective measures cannot grasp these capabilities, and current efforts to establish such metrics are deeply counter‐productive. We propose the ‘business model’ as the firm‐specific natural language within which the future value of the intangible assets can be estimated.

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