Intellectual Capital has been one of the keywords in management and research throughout the last decade. The discussion on this topic started off from the increasing difference between the market value and the book value and therefore the also increasing importance of intellectual capital forces industries to put a focus on the potential of human, structural and relational assets. Due to the strategic relevance of the issue Intellectual Capital the discussion about its management and measurement mainly was conducted under this strategic aspect. However at the moment we find ourselves in a third stage of developing adequate management and measurement systems for Intellectual Capital. Within this generation of measurement systems on faces the challenge to build on the former developments and seek to link, explicitly the non-financial and intangible dimensions of business performance to the generation of free cash flow. In pursuing this effort this paper suggests how the topic Intellectual Capital can be brought onto the level of those operational components, which are responsible for the generation of cash flow - namely products and processes (P&P). The Intellectual Capital Cube is introduced and presented which in a first step aims to show how the different components of Intellectual Capital are used for and within products and processes. By classifying products and processes according to their use of the Intellectual Capital and by connecting this classification with data from the operational controlling, one should be able to point out, which portion of a product's success - both on a financial and non-financial level - Intellectual Capital can be made responsible for.
|Keywords:||Intellectual Capital, Products and Processes, IC - Cube|
Ass.Prof., Department of Accounting, Auditing and Taxation, University of Innsbruck, Austria
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