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8. Intellectual capital

Chapter 8

INTELLECTUAL CAPITAL 

                    AN ATTEMPT TO MEASURE                                                                                                                                                                                                                               by: josavere


                                                                 INTRODUCTION

Intellectual capital poses complex problems in itself because it depends, in a high proportion, on human resources, the most valuable. It is a complex issue that must incorporate the accounting technique to the financial statements due to the Digital Revolution; it is an excellent opportunity to restructure organizations looking for exponential growth to increase productivity; requires reorientation of traditional companies, starting with human resources with a manager with a “can do” mentality that instills, highlights and supports an innovative mindset, committed and active participant, as well as a team with the will, desire and passion for innovation, qualities that come from within and that must meet conditions such as:

Be optimistic, creative, with the ability to generate diverse and original ideas without fear of making decisions, curious, desire to investigate, learn and explore new and unknown situations, with a lot of information, ability to question, critical eye for any product, brand, interaction or new experience.

People who practice empathy, the ability to feel the same as other people to get to know them better and design inspired by the user. Tolerance and daring to experiment with the uncertainty generated by working on poorly defined, complex problems with high indecision (trial and error).

Technology has made the democratization of knowledge possible; the means to achieve this are within everyone's reach. The competitive advantage is in the ability to execute because productivity depends on managerial activity keeping the group going at the same pace. Technology alone does not guarantee it and the latest development is not always required.

The ability to adapt, typical of intelligent people, serves to take advantage of the great opportunity that presents itself, with greater life expectancy and a lot of stress, adopting healthy lifestyle habits and taking great care of the mind to lengthen its productive period. A lot of flexibility is required, a very open mentality with positive and optimistic thinking, with resistance to frustration, keeping the discipline of study and developing emotional intelligence to the maximum and learning, at least, another language.

Use the Networking network because the possibilities of accessing new opportunities are multiplied for those who know how to interact, complementing it with forums, blogs, debates and professional meetings.

Knowing oneself to enhance the creative side because the ability to generate experiences, provide new points of view; looking for different forms of expression and everything that is not likely to be automated to be executed with a robot, is and will continue to be highly appreciated.

Cultivate empathy, think about contributing to the quality of life, not making tempting accumulations, seek wisdom and live with a collaborative spirit, working in Holacracy (an organization in which command and decision-making are distributed horizontally, without there being a management hierarchy.


1. A ATTEMPT AT MEASUREMENT

With the intellectual capital, complex problems come into question in themselves. All authors managed by the administrator coincide in assuring that the more important entrepreneurial resource is the human; In practice, the treatment is not always it's all the same. Bookkeeping is also delayed and practically he has ignored his value because not even he takes care of him in notes to balance.

Of another part, we know that the men's knowledge is very intrinsic. That knows each one he is his own and each one as he has free will to utilize his knowledge. To a human being himself him what he wants to sell shops, but not his attitude.

Else we can acquire a dominion on the human being, how can we activate it?. They characterize the assets for his identity; The reclamation of the fact that he is leftover can do the company and his potential capability to generate income (cash flow).

Let's retake previous concepts: No assets individually considered are susceptible to generating income. An operation requires a combination itself (generally fixed and ordinary) more (administration) which is developed by human beings and of whose efficiency, the potency depends on the capability to generate cash earnings.

The administration will be more efficient insofar as he has cultured, good - intellectual capacity people and with the proper formation like being more one specific knowledge humanly, which requires grand level entrepreneurial investments. The performance takes place in the medium and long term and generates a culture that everything canalizes entrepreneurial knowledge properly protected.

Accepting the intellectual capital value and his grade of importance as occurs with virtual companies, which depend more and more on the human being (knowledge and confidence), does not get alternative distinct that to attempt his measurement, development that certainly will take longer to be accepted universally like valuable measure. The theme is extremely complex and has implications of a lot of nature that in the long run will lead to real and tangible benefits for all of the proprietors and for development in general.

In this document, we dare to encounter one point of departure to talk about the subject, in the expectation of receiving complementary contributions that they help somebody structure a method that he resist analysis and that he achieves a level of acceptance that it permits registering his value in annual accounts. 

2. FACTORS

A. LEVEL OF PERSONAL GROWTH: investment made in human growth with a result properly evaluated. He measures himself for the number of currency units inverted, if and when results are positive. Also this level measures according to the people's academic level that they integrate the organization and the executed investment in getting better academic itself. 

B. THE COMPANY PERSONNEL'S LEVEL OF EMOTIONAL COEFFICIENT: measured for experts in the theme utilizing a systematic procedure that permits taking corrective stock. He measures himself for the number of inverted currency units and judicious people's percentage that he considers acceptable. 

C. DEGREE OF SATISFACTION OF THE LABOR FORCE: it is generated for possibilities of realization like being his work humanly and it is complemented with sports, cultural activities, and academics. In shape systematic to take decisions is measured for opinion polls arranged for by experts and utilized, which give the level of acceptable satisfaction but executed investment to achieve it.

D. COMPANY POSITIONING IN THE MIDDLE: variable to evaluate with studies of market properly certified. He measures himself with a percentage that monetary utilized investment that is considered acceptable. 

E. DEGREE OF ACCEPTANCE ON THE PART OF THE COMMUNITY: calculated by means of opinion polls of opinion elaborated with a systematic procedure that he be useful for taking corrective stock. 

F. STANDARDS OF WORLDWIDE RECOGNITION:

  • ISO 9000
  • ISO 14000
  • ISO 18000

The ones that are gotten from certified must be maintained in use and the fact that he requires an initial investment and periodic other for his obtaining and maintenance, which must quantify themselves in currency units.

G. RELATIONS WITH THE STATE:

  • District attorneys
  • Ground rules

They write themselves verifying the fulfillment of commitments regulated by the status that constitute requirements to operate and. 

H. PRACTICES OF ASSOCIATION GOVERNMENT: It measures himself according to the manifest expression and the fulfillment of correspondent regimentation. 

I. LEVEL OF FULFILLMENT OF ENVIRONMENTAL LEGISLATION: It is calculated by analyzing the fulfillment of official regimentation. 

According to the concept of SYNERGY, the company as a whole, a superior value has its patrimony, defined in countable terms like the difference among active and passive totals. In the entrepreneurial environment exists a carry-out lack of appetite to practice his real value, as concerns the concept of presumptive income that the fiscal system drives.

Variables 1 – 6 measure themselves in terms of executed investment but the expenses of the measurement and will give an absolute value that he fits up according to the IPC.

Variables 7, 8, and 9 will have a qualitative value that an I for each one will be.

The intellectual capital value will be  exposed to the following form, examples:

a. I - 200 It fulfills a norm legal and it has invested to $200 million in intellectual capital.

b. II - 300 It fulfills two norms legal and it has invested $300 million in intellectual capital.

c. III - 400 It fulfills three norms legal and it has invested $300 million in intellectual capital.

d. III - 600 It fulfills three norms legal and it has invested $600 million in intellectual capital. 

 

3. CALCULATION

Taking like base Tobin's Q we calculated the relation among the actual value and the intrinsic value, if the little India that investors are paying is positive one intangible then it does not reflect in balance. In order to obtain the tax benefit, the bookkeeping registered the previous investments like expenses in order to obtain the tax deduction, next:

Pr = A - P + I

Pr: real patrimony
A: asset
P: liability
I: investments in intellectual capital

VM: actual value

Q of Tobin 2.0

Therefore the intellectual capital yield amounts to the difference among the bigger value paid by the market and investment calculated according to the previous procedure. And therefore:

Vp Tobin - Vp books = VAICI

Vp Tobin: value of the patrimony according to Q of Tobin
Vp in books: value of the book patrimony
VAICI: added-value of the investment in intellectual capital

VCI (josavere) = VAICI

Company capital cost

VCI: Value of the intellectual capital
VAICI: Added-value of the investment in intellectual capital

Example:
Equity value at market price: No. of shares * market value of the share.
Book value of equity: No of shares * book value of the share.
VICI: the value of an investment in intellectual capital.
X: higher value paid by investors (for the intangible),
X = VM- (VL + VICI)
In other words, it is as if the company had extra capital, producing profits, the value of which is estimated based on the cost of capital.

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Josavere