The growth of the so‐called “knowledge economy”, whereby the primary sources of firm value are claimed to be an increasing reliance upon the exploitation and management of…
The growth of the so‐called “knowledge economy”, whereby the primary sources of firm value are claimed to be an increasing reliance upon the exploitation and management of intangible assets that are not reported in company balance sheets, has led to a questioning of the continued relevance of conventional financial reporting and internal management information and control systems. The purpose of this paper is to evaluate the criticisms and proposed alternatives to conventional financial reporting and management control practices. As public policy makers appear to be increasingly convinced that there is an economically damaging “gap” in terms of small and medium size enterprise (SME) stakeholder understanding of intangible asset management, the paper also evaluates the arguments and evidence concerning the applicability and relevance of the problems and proposed alternatives to SMEs.
The paper reviews the criticisms, empirical evidence and proposals to improve financial reporting and internal management control practices by incorporating information on the value of intangible assets and in developing tools for better managing these assets.
The problems associated with identifying and valuing intangible assets and the fact that capitalising income (net profit) using an appropriate risk‐adjusted cost‐of‐capital provides an adequate estimate of value, appears to make most accounting researchers highly sceptical of either the need or desirability of including intangible asset values in the balance sheet. Moreover, the suggestion that firms – particularly SMEs – could increase their value by adopting more formal and comprehensive intangible asset management systems is highly suspect and appears not to be borne out in practice.
The case study evidence in relation to the benefits to SMEs from adopting such tools – even when such tools have been specifically designed for SMEs and, along with consultancy advice, are made freely available to firms – is not encouraging and, in the view of this writer, does not provide any firm justification for significant further public involvement beyond considering including the topic in business start up course syllabuses.
The paper provides the first review of the relevance to the SME sector of the by now extensive conceptual and empirical body of work on the valuation, reporting and management of intangible assets.
Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade…
Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange for Auto Parts procurement by GM, Ford, Daimler‐Chrysler and Renault‐Nissan. Provides many case studies with regards to the adoption of technology and describes seven chief technology officer characteristics. Discusses common errors when companies invest in technology and considers the probabilities of success. Provides 175 questions and answers to reinforce the concepts introduced. States that this substantial journal is aimed primarily at the present and potential chief technology officer to assist their survival and success in national and international markets.
October 31, and November 1, 1972 Master and Servant — Negligence — Furnace waste on loading platform — Proper broom for removing furnace waste not provided — Plaintiff…
October 31, and November 1, 1972 Master and Servant — Negligence — Furnace waste on loading platform — Proper broom for removing furnace waste not provided — Plaintiff injured by slipping on loading platform in the course of loading operation — Whether defendant employers liable in negligence and for breach of statutory duty — Regulation 6 of the Construction (Working Places) Regulations, 1966 (S.I. 1966 No. 94).
Takes a humorous view, using Sherlock Holmes and Dr Watson, in setting up a hypothetical case of derivative investigation by the two sleuths. Asks a few questions along the way and uses a figure to add emphasis to “the entangled equilibrium of principal and interest”. Cryptic clues abound in this with a good message for practitioners.
This article explores the use of a quality management model by a public sector agency to implement a socially responsible purchasing initiative related to minority…
This article explores the use of a quality management model by a public sector agency to implement a socially responsible purchasing initiative related to minority diversity of the vendor pool. There is a description and discussion of the use of a quality management model for planning and implementing the initiative with a focus on changing organizational culture and reinforcing organizational policy priorities. The initial success of the initiative in increasing total contracted dollars to minorities suggests that a quality management implementation model is a useful approach for initiating a socially responsible policy within an organization.
SINCE the critical days immediately prior to the Second World War when Sir Robert Watson‐Watt and his team of research workers successfully applied the principles of radiolocation, Britain has remained in the van of world development and production of radar for both military and civil purposes. The same statement might be applied generally to British endeavour in the wider field of aviation electronics and here, as many leaders within the industry have been quick to point out, is an export ideally suited to this country. The principal requirements for success with these types of products are not vast industrial resources and large quantities of raw materials but inventive genius and readily available capital to exploit new discoveries by rapid development and production. It is generally acknowledged that we have rich reserves of the former, and with generous Government backing for military projects in the past we have been able to keep pace with developments in other countries. However, there is now an indication that the Government intends to achieve short term economies in national expenditure by buying foreign products off the shelf for military applications instead of providing money for the development of suitable British electronic equipment.
At a recent inquest upon the body of a woman who was alleged to have died as the result of taking certain drugs for an improper purpose, one of the witnesses described himself as “an analyst and manufacturing chemist,” but when asked by the coroner what qualifications he had, he replied : “I have no qualifications whatever. What I know I learned from my father, who was a well‐known ‘F.C.S.’” Comment on the “F.C.S.” is needless.