Measuring Intagible Assets - Increase Performance while Gaining Competitive Advantage
34
info @ susanlessergroup.com
-
Upload
nplusone-consulting -
Category
Business
-
view
1.406 -
download
1
description
Measuring tangible output has been in the realm of manufacturing companies for a long time; however, recent studies have brought attention to measuring an organization's intangible assets. According to these studies increasing assets such as teamwork, communication and leadership improves your bottom-line while providing your organization with a strong, hard-to-replicate competitive advantage. This presentation is divided in three parts. Firstly, we describe what intangibles the Sigma Score measures; then, we explore what tools are available to measure these intangibles; and finally, we outline a company whose intangible assets have been improved.
Transcript of Measuring Intagible Assets - Increase Performance while Gaining Competitive Advantage
Topics
Concept: Intangibles
Concept: Measurement / Measuring
Concept: Productivity v. Performance
Intangibles and Productivity
Interconnectivity of the Intangibles
Tools for Measuring the Intangibles
Portrait of a High-Functioning Organization
Benefits of Measuring Intangibles
Intangibles
Teamwork: The ability to identify and join diverse strengths in order to make a greater whole that would not have existed otherwise
Concept: Intangibles
Intangibles
Communication: transfer of information from transmitter to receiver
Concept: Intangibles
Intangibles
Morale: the capacity of people to maintain belief in an institution, in others, in oneself or in a goal
Concept: Intangibles
What sorts of things do you measure in life?
Why?
Concept: Measurement / Measuring
Concept: Measurement / Measuring
What sorts of things do you measure at work?
Why?
Concept: Measurement / Measuring
What sorts of things do you not measure at work?
Why?
What are the consequences?
70%
Personnel traditionally accounts for
approximately
of a long-term care community’s costs
Why Measure Intangibles?
Measure quality of results not the actual activity
Concept: Measurement / Measuring
Specific
Measurable
Attainable
Relevant
Timely
Concept: Measurement / Measuring
Good measurements
Customer surveys to measure satisfaction
Number of team errors to measure supervisor’s effectiveness
Average monthly tips to measure waiters competency
Bad measurements
Returns to measure product satisfaction
Happiness level of your residents
Students graduating to measure quality of education
DEFINITION PRODUCTIVITY
Concept: Productivity v. Performance
Rate at which an individual performs his/her job function
“”
DEFINITION PERFORMANCE
Concept: Productivity v. Performance
The accomplishment of a given task measured against preset standards of accuracy, completeness, cost, and speed.
“”
Interconnectivity of Intangibles
5.IMPROVED ORGANIZATIONAL PERFORMANCE & INCREASED PROFITABILITY
4.TECHNICAL AND ADMINISTRATIVE INNOVATION which results in
3.ORGANIZATIONAL LEARNING which promotes
2. TEAMWORK which fosters
1. LEADERSHIP encourages
Communication
Lots of tools measure individual leadership ability:
Caliper
DiSC
360
Profile XT
Tools for Measuring Intangibles
Do It Yourself
Define/Identify what you need to measure
Select measurement mode
Assign values to responses
Administer tool
Tabulate data
Analyze data Information
Improve/Take action
Re-measure
Tools for Measuring Intangibles
Potential Pitfalls
Intensity of Response Range
Clarity of wording
Bias
Expectations
Trust
Tools for Measuring Intangibles
Balanced Scorecard More a tool to fill the gap between Senior Mgmt’s vision and the rest of the organization.
Tools for Measuring Intangibles
Tools for Measuring Intangibles
Measurement without action will not bring about improvement
Intangible assets seldom affect financial performance directly.
Customer Service
Quality of Care
Shared Management Model Cycle
Goal setting
Performance review
A High-Functioning Company
A High-Functioning Company
According to the Shared Management Model, the primary role of the manager/supervisor is to focus on the growth and development of the employee
PREPARATION
Select the right person for the job
Establish long-term objectives of the employee
Ensure objectives are clearly communicated
Ensure that the necessary material and people supports are in place to carry out those objectives
Identify and satisfy training needs
Spell out the accountability system related to the employee’s performance objectives
A High-Functioning Company
ACTIVATION
Determine immediate objectives
Build a performance supportive attitude
Manage on-the-job activity
Provide on-the-job motivation
Identify barriers standing in the way of getting the job done
Remove those barriers whenever possible
Ensure that the job gets done
Recognize on-the-spot opportunities for performance enhancement
A High-Functioning Company
ON-GOING EVALUATION
Ensure that activities and results are monitored.
Activate the accountability system so that rewards or their absence are consistent with performance.
Perform the fine tuning that observation of previous performance permits.
Use formal reviews:
Performance reviews
On the job testing
Team reviews
A High-Functioning Company
Increasing the worth of intangibles is taking a longer-term view of the organization
Measuring intangible assets is about estimating how closely aligned those assets are to the company’s strategy
Increase performance
Define and Strengthen Competitive Advantage
Benefits of Measuring Intangibles
What we measure?
Why we measure?
How we measure?
What benefits will come to us if we measure and take corresponding action?
Summary
WE ARE SO GLAD YOU CAME TODAY.
Please contact us anytime with questions
regarding today’s presentation.
Susan D. LesserSusan Lesser Group
