Making Sense of Intellectual Capital : Designing a Method for the Valuation of Intangibles
- Book Review,
by Daniel Andriessen
Review
"A most insightful knowledge navigation book on valuing intangibles. It is a very good state of the art overview 25 methods and also trying out its
own refined model with illustrative cases. A recommended reading both for
the practicioner as well as the researcher."
- Leif Edvinsson, The world's first professor on Intellectual Capital and the worlds's first
director of IC. Honorary Chairman Henley college KM Forum
"Weaving a fascinating blend of sharp analysis and story telling Andriessen describes the journey of a passionate group of experts pursuing one of the most challenging and elusive riddles in modern business - how do intangible resources create value for the firm? This insightful and sweeping exploration of both the underlying questions and their numerous proposed solutions from other contributors in the field offers a wonderfully lucid overview of a complex subject. Andriessen's passion for methodologies that are coherent, rigorous and relevant is contagious. The Weightless Wealth Toolkit draws from the best available intangible valuation tools and methods but takes them to the next level, offering a powerful and original contribution. Whether you are new to the questions around intangibles or already well versed in the field, you will find this an indispensable reference and guide." --Verna Allee, author The Knowledge Evolution and The Future Of Knowledge: Increasing Prosperity through Value Networks.
"In "Making Sense of Intellectual Capital", Dr Andriessen has produced one of the most synthesising books on this important but challenging topic. This book provides a very
valuable overview and evaluation of the managerial tools available to managers when it comes to better managing their intangible assets. I highly recommend this book to any manger of a firm that is charged with extracting value from its intangibles." -- Goran Roos
"I strongly believe, that Making sense of Intellectual Capital will be the
compass for the intellectual academic community and the comprehensive guide for the practitioners that consider intangibles as the main resources to
manage in the context of the knowledge economy.
Andriessen is a perfect blend of an academic and a practitioner. As an academic he scientifically evaluates the 25 existing methods for managing
and measuring intangibles. As a practitioner he also offers in his book his own method for valuing intangibles together with some useful practical
applications. Excellent. The book really makes sense in the emerging field of intellectual
capital, where converge many different contributions of innequal quality and relevance. Andriessen has done a great job that will please both academics and practitioners. This is an inspiring book, mainly of academic nature but with very practical and powerful messages to improve the value of businesses. Andriessen really challenges the Intellectual Capital conventional wisdom with new approaches and contributions."
-- José Maria Viedma
"In theory, practice and theory are the same; but in practice, they ain't". Daniel Andriessen deftly walks that fine line between theory and practice. His book is academic enough to provide a fundamental contribution to the science and understanding of the valuation of intangibles. Yet it remains practical enough, with its candor and honesty, to allow for effective implementation of his methods and ideas, manifested in his Weightless Wealth Tool kit. It demonstrates that measurement is not enough, that valuation is paramount in leveraging intangibles for strategic benefit. MAKING SENSE OF INTELLECTUAL CAPITAL is important reading for anyone who considers their intellectual capital to be strategic to their business."
-- Howard Deane, Chief Knowledge Officer, KMPG LLP, Canada
Review
"A most insightful knowledge navigation book on valuing intangibles. It is a very good state of the art overview 25 methods and also trying out its
own refined model with illustrative cases. A recommended reading both for
the practicioner as well as the researcher."
- Leif Edvinsson, The world's first professor on Intellectual Capital and the worlds's first
director of IC. Honorary Chairman Henley college KM Forum
"Weaving a fascinating blend of sharp analysis and story telling Andriessen describes the journey of a passionate group of experts pursuing one of the most challenging and elusive riddles in modern business - how do intangible resources create value for the firm? This insightful and sweeping exploration of both the underlying questions and their numerous proposed solutions from other contributors in the field offers a wonderfully lucid overview of a complex subject. Andriessen's passion for methodologies that are coherent, rigorous and relevant is contagious. The Weightless Wealth Toolkit draws from the best available intangible valuation tools and methods but takes them to the next level, offering a powerful and original contribution. Whether you are new to the questions around intangibles or already well versed in the field, you will find this an indispensable reference and guide." --Verna Allee, author The Knowledge Evolution and The Future Of Knowledge: Increasing Prosperity through Value Networks.
"In "Making Sense of Intellectual Capital", Dr Andriessen has produced one of the most synthesising books on this important but challenging topic. This book provides a very
valuable overview and evaluation of the managerial tools available to managers when it comes to better managing their intangible assets. I highly recommend this book to any manger of a firm that is charged with extracting value from its intangibles." -- Goran Roos
"I strongly believe, that Making sense of Intellectual Capital will be the
compass for the intellectual academic community and the comprehensive guide for the practitioners that consider intangibles as the main resources to
manage in the context of the knowledge economy.
Andriessen is a perfect blend of an academic and a practitioner. As an academic he scientifically evaluates the 25 existing methods for managing
and measuring intangibles. As a practitioner he also offers in his book his own method for valuing intangibles together with some useful practical
applications. Excellent. The book really makes sense in the emerging field of intellectual
capital, where converge many different contributions of innequal quality and relevance. Andriessen has done a great job that will please both academics and practitioners. This is an inspiring book, mainly of academic nature but with very practical and powerful messages to improve the value of businesses. Andriessen really challenges the Intellectual Capital conventional wisdom with new approaches and contributions."
-- José Maria Viedma
"In theory, practice and theory are the same; but in practice, they ain't". Daniel Andriessen deftly walks that fine line between theory and practice. His book is academic enough to provide a fundamental contribution to the science and understanding of the valuation of intangibles. Yet it remains practical enough, with its candor and honesty, to allow for effective implementation of his methods and ideas, manifested in his Weightless Wealth Tool kit. It demonstrates that measurement is not enough, that valuation is paramount in leveraging intangibles for strategic benefit. MAKING SENSE OF INTELLECTUAL CAPITAL is important reading for anyone who considers their intellectual capital to be strategic to their business."
-- Howard Deane, Chief Knowledge Officer, KMPG LLP, Canada
Book Description
Peter Drucker has introduced us all to the knowledge era, where knowledge is the primary resource and intangibles (intellectual capital resources and assets) are now largely recognized as the most important sources of organizations' competitive advantage. With the recognition of the importance of Intangibles comes the problem of how to properly identify them and assign them a value within the corporation. This is an area of concern in 5 fields: 1) accounting and financial reporting, 2) performance measurement and management, 3) valuation in the finance field, 4) the Human Resources field in terms of management, strategy, and planning, and 5) Intellectual Capital. Over the past eight years, over 25 methods have been proposed for the valuation of intangibles coming out of these 5 fields.
In this book, Andriessen evaluates 25 existing methods of intangible valuation according to highly developed criteria. In performing his evaluations, Andriessen synthesizes the state of the art research from these fields based on extensive research. He then presents his own method for valuing intangibles, which he began developing and testing as a Senior Manager at KPMG Knowledge Advisory Services in The Netherlands. He relates six case studies in which this method was tested in actual companies, carefully reviews the results of his tests, and then concludes by offering a new and improved method for valuing intangibles in his Weightless Wealth Toolkit, a complete step-by-step process for identifying, valuing, and managing Intangibles to help managers operate successfully in the Intangible Economy.
-Contains the only comprehensive and academically sound review and evaluation of existing methods for valuing intangible resources
-Well-known author from KPMG in The Netherlands
-Includes a do-it-yourself toolkit for valuing intangible resources
From the Back Cover
Business/Management [shelving code]
Making Sense of Intellectual Capital: Designing a Method for the Valuation of Intangibles
Daniel Andriessen
"Weaving a fascinating blend of sharp analysis and story telling Andriessen describes the journey of a passionate group of experts pursuing one of the most challenging and elusive riddles in modern businesshow do intangible resources create value for the firm? This insightful and sweeping exploration of both the underlying questions and their numerous proposed solutions from other contributors in the field offers a wonderfully lucid overview of a complex subject. Whether you are new to the questions around intangibles or already well versed in the field, you will find this an indispensable reference and guide."
--Verna Allee, author, The Knowledge Evolution and The Future of Knowledge: Increasing Prosperity through Value Networks
Making Sense of Intellectual Capital is important reading for anyone who considers their intellectual capital to be strategic to their business."
-- Howard Deane, Chief Knowledge Officer, KMPG LLP, Canada
"Making Sense of Intellectual Capital provides a very valuable overview and evaluation of the managerial tools available to managers when it comes to better managing their intangible assets. I highly recommend this book to any manger of a firm charged with extracting value from its intangibles."
-- Goran Roos, Director Intellectual Capital Services, London
This is an inspiring book, mainly of academic nature but with very practical and powerful messages to improve the value of businesses. Andriessen really challenges the Intellectual Capital conventional wisdom with new approaches and contributions."
-- José Maria Viedma, President of Intellectual Capital Management Systems and
Professor of Business Administration at Polytechnic University of Catalonia
Twenty-five years ago, Peter Drucker introduced us all to the knowledge era knowledge is now the primary corporate resource and intangibles are now the most important source of competitive advantage for corporations. But valuing intangibles has been an elusive goal. The ultimate solution will require a marriage of both rigorous academic measures and expertise from the real world of business in order to work practically as well as in theory. Andriessen provides just such a marriage--scrupulously examining the steps one needs to take to design a method for the valuation of intangible resources, evaluating the current tools available, and offering his experience on developing a tool of his own and its implementation in real companies.
Dr. Daniel Andriessen is Professor of Intellectual Capital at INHOLLAND University of Professional Education, The Netherlands, and Director of the Centre of Applied Research in Intellectual Capital. Before joining INHOLLAND University, he worked as a management consultant for KPMG (Kynveld, Peat, Marwick, Goerdeler) and was co-founder of KPMGs Knowledge Advisory Services group. Through his Weightless Wealth Research group he consults with companies, government, and educational organizations, and academics and students on the subject of knowledge management and intellectual capital valuation and measurement.
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