Business Intangibles - culture, loyalty, innovation and reputation
Enlightened Business Summit this week. One key theme amongst the talks is the importance of business intangibles such as Culture, Loyalty from customers and employees, Ability to innovate, and Reputation. These intangibles are key indicators of sustainable business success, but ironically not measured in today's balance sheet. To improve we must measure, thus establishing metrics for all important intangibles is an imperative of a sustainable leader. A good place to start is loyalty from customers and employees, an example metric for this include retention rates. Ability to innovate is also well mapped by innovating organizations such as IDEO and Apple. Reputation is possible to gauge by marketing experts. And organizational change experts can help measure the positivity of company culture. Digging into the messy areas of intangibles is important for sustained success, and the organization will benefit simply from taking that journey.
Posted by Connie Kwan