Harvesting Intangible Assets
Uncover Hidden Revenue in Your Company's Intellectual Property
Author: Andrew J. Sherman
Pub Date: October 2011
Print Edition: $24.95
Print ISBN: 9780814434987
Format: Paper or Softback
e-Book ISBN: 9780814417003
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HARVESTING INTANGIBLE ASSETS
Uncover Hidden Revenue in Your Company’s Intellectual Property
A Framework and the Tools to Rebuild American Business on a Foundation of Innovation and Knowledge
Innovation is widely hailed as the key to seizing competitive advantage and sustaining profitability. Yet, most companies allocate little structured attention to cultivating this precious resource. Why, in the age of know-how, show-how, relationships, and best practices, do companies routinely overlook the critical need to manage and extract value from creativity and knowledge? Why, in a business climate demanding transparency and accountability, is there a striking lack of discipline regarding assets we can’t necessarily touch, but that are clearly driving the lion’s share of revenue for Apple, Google, IBM, 3M, Amazon, Netflix, Priceline, and countless other companies?
In HARVESTING INTANGIBLE ASSETS: Uncover Hidden Revenue in Your Company’s Intellectual Property (AMACOM, 2011), Andrew J. Sherman challenges business leaders to question the popular motivational approach to fostering innovation and creativity, as well as the standard emphasis on balance sheets over home-grown processes, informal collaborations, and employee expertise. Based on his work with some of the world’s most innovative and successful companies, Sherman presents systematic methods for managing, measuring, maximizing, commercializing, and protecting the greatest sources of value—concrete, bottom-line, as well as shareholder value—in today’s information-centric, innovation-driven world.
Reaching out to leaders at all levels in companies of all kinds, from executives at Fortune 1000 corporations to start-up entrepreneurs, Sherman urges readers to strive to transform business as usual. “Innovation includes new approaches, new business models, new channels, new value propositions, new pricing, new packaging, and new marketing and branding strategies,” he makes clear. “Not all innovation is breakthrough and life changing, but it often can provide new product lines, new services, new revenue streams, and new profit centers for companies of all sizes.”
Packed with instructive examples from an array of innovative companies—Apple, Charles Schwab, Chipotle, Cisco, Dow Chemical, Dunkin’ Donuts, Google, IBM, Jiffy Lube, Procter & Gamble, Wal-Mart, and 3M among them—HARVESTING INTANGIBLE ASSETS also provides a wealth of strategic guidance and tactical action plans. While gaining a new appreciation for the untapped value of the intellectual capital within their own organizations, readers will learn how to:
* Assess their organization’s attitude, appetite, aptitude, alignment, access, allocation, and adaptability for innovation.
* Plant the seeds for fostering a culture of innovation, starting by empowering employees to let down their guards and risk failure without fear—or dire financial loss to the company.
* Embrace intrapreneurship as a central part of their company’s mission, values, and branding, and set clear and consistent intrapreneurship policies, strategies, and structures.
* Master Intellectual Asset Management—a comprehensive system for creating, organizing, prioritizing, and extracting value from their company’s cultural assets (mission, values, norms, and more); relationship assets (from customer loyalty to vendor alliances to Web 2.0 branding); human assets (workforce expertise, creativity, collaboration, and more); practices assets (including communication and training systems); and intellectual property (from patents to trade secrets).
* Develop a legal strategy to protect their key intellectual and creative assets, with a firm grasp on patents, copyrights, trademarks, service marks, and trade dress.
* Excel at creating and launching new products and services without betraying their trusted brand reputation or alienating their established customer base.
* Adopt a business model to sustain innovation and leverage its financial rewards, with highlights of cooperatives, channel partners, licensing, joint ventures, and franchising.
Sherman culminates his book with a hope-filled yet highly feasible look at the future of innovation for American business. Eye-opening, thought-provoking, and focused on tangible results, HARVESTING INTANGIBLE ASSETS reveals the true business value of innovation and provides the tools today’s business leaders need to sow and reap its promise.
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