Maybe you have already heard that in some ways
immaterial values are important for business management. But you might
not found how to bring them into your management processes or into your
reporting packages. However, first of all we should be clear, what
immaterial values are? Well, this includes the balance sheet information
about intangible assets, but is going far behind it.
As we all know, decisions are mostly based on feelings or emotions,
than on logical judgement. A feeling is an energy. Energy is not
material, it is immaterial. The overall emotions or motivation of
employees in a business is a immaterial value, it could have positive
and negative impact on the business development. Does sound very
esoterical for you? Might be, but today we know that our emotions drive a
lot of our life.
Not only the feelings of the emplyoees have an impact on the
business development, also the feelings of potenial customers have it.
These customer feelings could be measured as customer satisfaction, as
how customers see the company or it’s products and services and so on.
There is more energy, which is immaterial, included in our business life
as we are aware of.
Until today we might know about these energies or have read that
businesses have to be more aware of them. But to find Solutions which
are able to measure these energies are not very common and hard to find.
Business Management still uses hard figures such as ratios based on
financial values and just forgets that there has been more than only the
numbers from the accounting and the money in the pocket.
If you only look to the accounting figures of a business, you only
look to this company as if you were looking at an iceberg. You only see a
fraction of the iceberg, only what is above the surface. Everything
below the surface is out of your view. While the iceberg is melting
away, it still brings up new parts of it self. But you only see this new
parts, when the iceberg is melting. It’s just the same with the
accounting figures as soon as you see them they are gone. That means
they are old, it’s nice to knew them, but they relate to business
already accomplished.
The accounting figures are just like to iceberg when it comes above
the surface while it is melting away. Now, wouldn’t it be great to see
the whole iceberg, even if a big part is below the surface? Yes, it
would be great. The immaterial values of your business are just below
surface. If you bring them up, you could see the whole picture of your
business.
Running a business only focusing on profit could lead to running
into a collapse. It might take time, but soon customers and employees
will find out that just the profit counts to a specific company. Well,
it’s correct, no business could survive without profit, but first of all
every business has to make profit on immaterial items, such as image,
motivation of employees and customers faith.
One day from these immaterial profits the financial profit arises.
That’s the theory. Propably you already read about this, but have you
found a way to measure immaterial values of your business? It’s not that
difficult, but it needs some thoughts. First of all it is important to
make a list of immaterial values which have the most impact on the
business development. When this has been finished, methods to measure
and valuate the immaterial values have to be found.
And at last, the values for all the selected immaterial items have
to be analysed regularly. Setting up such a Reporting System for
immaterial values could be a long lasting task. You might try to do it
with a spreadsheet program or with a database, but either way will take
it’s time. Using ready made Standard Software might be another option,
but there are not much choices. In case you use the Balance Scorecard,
you might think having all the data mentioned above and you might think
having a good solution for analysation.
The Balance Scorecard has it’s advantages, but for a short, fast and
regular analysis of immaterial values it is far to complex and much to
slow. There is just the need to measure, store and analyse some data.
About 30 items will be enough to have an overview of immaterial values
and some material values as well. Most of the necessary data are usually
already stored in every business. They only need to be concentrated
into one table and have to be analysed.
Are immaterial values important for every business? Yes. This
includes big businesses as well as the one-man-business, retail stores,
mechanics, freelancer and so on. You may find more information on
immaterial values in business management, when searching for
Early-Warning-System, Early-Recognition-Sytems and something similar.
You are able to find one or the other immaterial value included in
Management Methods, Ratio Systems and Financial Analysis. But still,
most Reports and Measurement System are based on financial data.
A Solution which every business, no matter of size, could use, is
the abenetis ERS (Early-Recognition-System). It is called
Early-Recognition-System, because with the used immaterial values every
business could be aware of tendencies in it’s business development soon.
At the moment the abenetis ERS is available only as Online-Service, but
could soon be delivered as Intranet-Version, too. More details are
available at our ERS-Subscription Page.
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