Or are they sitting at the MacBook Pro at home or in the office next door? How do you know what assets are the most precious to the continuous continuity of your business?
These questions and more are at the heart of every "Shamrock" organization.
A Three-Leaf concept originally coined by the author Charles Handy in his classic 1990 book, The Age of Unreason:
One leaf of the shamrock represents the core. These are the founders and thought leaders of the organization along with the most qualified professionals or technicians. The core is a flat hierarchy compensated purely on the results of the entire entity.
The Contractual Fringe
The second leaf is known as the contractual fringe. This is both individuals and organizations who may have their own shamrocks. These are paid for results, not for time. In fees, not wages. This leaf provides the core with intellectual assets that are essential to the organization yet are independent or even former members of the core.
The Flexible Labor Force
The third leaf of the shamrock is known as the flexible labor force. This is the flexible labor force that the core utilizes in a just-in-time talent or labor basis. Their specialized skills are tied to the intellectual assets these individuals possess to be efficient and effective for a set time period. They are treated by the core as a valuable component but realize that they will never have the commitment or the ambition of the core. They get fair pay for their contract labor.
What is Intellectual Capital?
Now with our 2021 U.S. economy changing and adapting for decades from a production-oriented economy towards a significant software driven knowledge-oriented economy, your intangible assets are becoming more and more digital. To make better products, to deliver better services or to perform better, as a company in general we need to accelerate the origination and analysis of new found knowledge and know-how.
In that perspective, we could say that our new real knowledge originates from our minds into some form of data, that has now become the key predecessor of any physical labor and financial capital.
To make your company relevant and even more valuable, you will not only need the digital data, computers, and production facilities, ...... you will also need the innovation drivers that makes your company evolve beyond your own imagination.
These “Core” innovation drivers are your “People” with their know-how and experience, your designers of internal processes to guide the business flow and also the proactive interaction with your Alliances/Partners and your key customers.
Without these “Innovation Drivers”, your company wouldn't function at all and therefore, they are of tremendous "Capital" importance. This is your real "Intellectual Capital".
The volume and speed of new “Intellectual Capital” production in your organization will determine how you will perform in an accelerating global arena of competition.
It is the difference between our success and our failure.
"No matter how good the Minimum Viable Product (MVP) or idea may be, without a consistent flow of new found Intellectual Capital, and the development of new tested prototypes, no outstanding and ground breaking results can be expected."Now the question remains, how will you measure your organizational Intellectual Capital (IC)?
Without a way to measure it, how are you going to know what IC assets need to be managed and protected for the longevity and continuity of the business?
Where are they located? Which are most valuable? Who is the person or who are the people who own it?
People risk is one of the four major categories of Operational Risk Management. How are you managing, measuring and protecting “Intellectual Capital” in your organization?
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