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Knowledge balance sheet

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Knowledge balance sheet

A knowledge balance sheet is an instrument for structured identification, representation and development of knowledge management processes and checks the degree to which they have been implemented.[1][2]

Two views

View from the

  • outside as a reporting instrument: stakeholders obtain reliable data on the intangible assets and on the future-fitness of the enterprise.
  • inside as a management instrument: the measurement and assessment of the intellectual capital can be systematically controlled, developed and reflected upon.

Benefits

  • uncovering weak spots and potentials for maximizing business success
  • transparency
  • cost/benefit ratio of knowledge development
  • communication with shareholders
  • organizational development
  • capital acquisition
  • cooperation
  • customer orientation
  • understanding of interrelationships
  • synergies with existing mgmt. systems (QM, risk mgmt.)

Indirect benefits

  • gathering and definition of intellectual capital allows clearer communication
  • employees understand their company better
  • process optimization and innovation
  • increased attractiveness for employees and cooperation partners

Prerequisites

  • Management systems should already be utilized
  • Management (openness, willingness to talk/engage dialog, recognition)
  • openness for employees
  • anxiety-free corporate culture
  • documented and communicated business strategy

Criticism

  • Lack of generally recognized system
  • generally not verified by auditors
  • connection between knowledge balance sheet and future revenue opportunities difficult to verify
  • may exacerbate the asymmetry of knowledge between management and outside stakeholders
  • possible misuse as a marketing instrument

See also

References

  1. ^ Wang, Kesheng; Kovacs, George; Wozny, Michael (2006), Knowledge enterprise: intelligent strategies in product design, manufacturing, and management : proceedings of PROLAMAT 2006, IFIP TC5 international conference, June 15–17, 2006, Shanghai, China, Springer, p. 91,  
  2. ^ IAS 39 International Accounting Standard 39: Financial Instruments: Recognition and Measurement
  • Ju-Chuan Wu, Chinho Lin (2013). "A BALANCE SHEET FOR KNOWLEDGE EVALUATION AND REPORTING". 
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