Intangible Assets

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We can only imagine next generation of business if we can find the importance and growing of the Intangible assets in industry. The tremendous growth and the level of critical data, documents (either by email, fax, data transfer, cloud, or any channel of communication) and knowledge are the major area and by protecting them, we can get sustainable competitive advantage. For any organization its major concern that intellectual’ assets are well marked as per there risk level and properly managed. In this study paper I will try to focus why the management of knowledge professionals and knowledge itself are so critical? and the challenge of protecting intellectual property and the importance of a firm’s dynamic capabilities by Evaluate the company’s policies and procedures in relation to their intellectual assets. If we see as per accounting norms then intellectual or intangible assets are set of either knowledge, development, services, etc. this is superficial as “intellectual assets” and “intangible” assets” could be interchangeable. However, technically they have difference in the meaning. In todays’ generation, the business and organization have more focus over the intellectual assets. Now days derived equation from Assets and Liabilities of the intellectual assets as a net figure can be questionable since business many times avoid the intellectual liabilities in consideration. Also from our textbook “Dynamic capabilities are about the ability of an organization to challenge the conventional wisdom within its industry and market, learn and innovate, adapt to the changing world, and continuously adopt new ways to serve the evolving needs of the market” (Dess, Lumpkin, and Eisner, 2010, p. 148) as we all aware that knowledge is today’s main force factor for the company’s breath and growth. We also needs to consider that the wealth maximization for the organization is interrelated with knowledge and competencies of its employee. The value of work force is now a...
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