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In the era of knowledge economy, knowledge capital has become the "third resource" to promote the continuous development of enterprises after financial capital and labor. Economic growth depends more directly on the investment and operation of knowledge capital. On the basis of discussing the basic knowledge of knowledge capital, this paper probes into the value measurement and operation management of knowledge capital. After three stages of primitive economy, agricultural economy and industrial economy, mankind is now entering the fourth stage-the era of knowledge economy, a brand-new era of economic form. From 65438 to 0996, the Organization for Economic Cooperation and Development (OECD) defined the knowledge economy as an economy based on the production, distribution and use of knowledge and information. In the knowledge-based economy society, the production of products, the improvement of commodity value, the growth of enterprises and even the enhancement of comprehensive national strength are all more dependent on knowledge and people who master it. According to relevant data, the economic growth of Britain, France, America and other 14 industrialized countries mainly depends on the contribution of intellectual capital rather than the increase of material capital investment. The contribution rate of knowledge capital to economic growth was 5-20% at the beginning of 20th century, rose to about 50% in the middle of 20th century, and rose to 60% after 1980s. 80%。 As an important part of production factors, knowledge has become a key factor of economic growth. Intellectual resources for producing and disseminating knowledge have replaced traditional material capital and financial capital as important strategic resources, and formed a new form of capital, namely intellectual capital, also known as intellectual capital and intangible capital. It includes assets such as employee quality, product innovation, patents and trademarks. It is an intangible asset value that cannot be reflected by the traditional accounting system, and it is a potential, intangible, dynamic value that can bring value appreciation.
Peter drucker, an American management scientist, pointed out in his new book Post-capitalist Society that in the era of knowledge economy, the creation, processing, dissemination and application of knowledge and information are becoming the most important source of economic growth, and intellectual capital has become the "third resource" to promote the continuous development of enterprises after financial capital and labor, and economic growth is more directly dependent on the investment and operation of intellectual capital.
First, the meaning of knowledge capital
At present, there is no unified view on the definition of knowledge capital in academic circles. Ye Xiaokai. Edvinsson, the pioneer in this field and CEO of Skandia, Sweden's largest insurance and financial services company, defines knowledge capital as: knowledge capital is all professional knowledge, application experience, organizational technology, customer relationship and professional skills that contribute to the market competitiveness of enterprises.
Two equations can explain the connotation of knowledge capital:
1 and an equation given by Anne Brooking:
Enterprise = tangible assets+knowledge capital, that is, knowledge capital is the sum of all intangible assets that enable enterprises to operate.
2. The measurement model proposed by Scandia Company for the first time: knowledge capital (IC)= market value (MV)- book value (BV), that is, knowledge capital is the difference between market value and book value of an enterprise.
Second, the composition of knowledge capital
The intellectual capital of an enterprise can be divided into three parts:
1, human capital. It refers to the knowledge level, experience and business ability of employees to solve problems for customers, including the ability of employees to update their knowledge and enjoy the knowledge and experience of the company, that is, the learning ability, and the attitude of employees to the company and work. Talent capital is the sum of everyone's excellent qualities and abilities in an enterprise.
2. Structural capital. It is the "infrastructure" or "knowledge platform" that supports talent capital, such as enterprise organizational structure, system norms, enterprise culture, information technology system, organizational structure form, enterprise image, intellectual property rights, etc. It also includes a set of unique capabilities and systems of enterprises, such as the ability of enterprises to promote innovation, improve and create their own value, and the ability to shorten the time for employees to learn knowledge and enjoy the company's knowledge and experience faster, easier and more effectively.
3. Market capital. Refers to marketing channels, marketing networks, corporate reputation and long-term customer relationships. In the process of transforming knowledge capital into market value, the working capital of enterprises plays a bridge and catalytic role. Market capital is the main condition for talent capital and structural capital to play their roles and an important way for enterprises to create market value.
Among the three components of knowledge capital, talent capital is the core and an important basis for enterprise value realization and appreciation; The function of structural capital is to provide environmental support for stimulating human resources to create knowledge and give play to the value-added role of knowledge; The role of market capital is to ensure the effective interaction and matching between talent capital and structural capital to realize the knowledge value created. Without strong market capital, perfect marketing network and corresponding customer loyalty, it is difficult for valuable knowledge to go to the market and realize its value. Knowledge capital promotes the development of enterprises through the interaction and integration of human capital, structural capital and market capital, and becomes an important factor for enterprises to gain competitive advantage and a realistic driving force for future profit creation.
Third, the characteristics of knowledge capital.
Knowledge is called capital because it has the same characteristics as capital: first, knowledge is an unconsumed labor. Second, it can bring surplus value. As a factor of production, knowledge has the same characteristics and functions as capital, but it is also very different from labor and financial capital.
1, high added value
An important feature of capital is that it can bring surplus value and has appreciation, but the appreciation speed of knowledge capital is much faster than that of non-knowledge capital. Moreover, the appreciation of non-knowledge capital is supported by the operation of knowledge capital, and the appreciation of non-knowledge capital comes from knowledge capital. Therefore, the combination of knowledge capital and non-knowledge capital and comprehensive management will produce the effect of 1+ 1 >:2.
2. Long-term benefits
Once knowledge capital is formed, the owner can benefit for life, especially the accumulation of basic knowledge, the grasp of basic laws and the absorption of important experience.
3, inseparability with the discipline
General non-intellectual capital can transfer its management rights to others through the duality of property rights and profit from it. It can be borrowed or transferred because it does not affect its use value and value, which is inhuman. However, intellectual capital cannot be borrowed or transferred. This is human nature. If you want to borrow or transfer intellectual capital, you must borrow or transfer it with its owner, and you can't separate the two.
4. Non-inheritability
General non-knowledge capital is tangible, or houses, equipment, land, or monetary funds, which can be separated from the original owner and will not disappear with the death of the original owner. However, intellectual capital is inseparable from the owner and will disappear with the disappearance of the subject.
5. Intangible loss depreciation
The wear and tear of intellectual capital is mainly manifested in mental wear, not material wear and tear. Moreover, with the progress of science and technology, the aging speed of knowledge and the decline speed of technology are accelerating.
Fourth, the measurement of knowledge capital.
With the increasingly prominent position of knowledge capital in economic activities, the traditional enterprise balance sheet has been difficult to reflect the actual situation of enterprises in the era of knowledge economy. The real value of an enterprise is the intellectual capital hidden behind the traditional balance sheet. How to measure the value of knowledge capital is a severe challenge faced by managers and asset appraisal institutions of knowledge-based enterprises, the basis of knowledge capital management and a cross-century accounting problem.
The breakthrough achievement of world intellectual capital evaluation was born in Sweden Scandia Company1May 1995. After several years of internal practice, the world's first public annual report on intellectual capital was released as a supplement to the traditional report. Ye Xiaokai 1997. Edvinsson, vice president of the company, co-published the book Intellectual Capital with Michael. On the basis of years of practice, S.Malone, an American business and high-tech writer, introduced the composition of Skandia Navigator, the intellectual capital equation and the far-reaching influence of the intellectual capital model. They put forward that the success factors of an enterprise include five parts: finance, customers, operational processes, renewal and development, and human resources. Skandia has set up a series of indicators to evaluate the above five aspects. When they are integrated together, it is a new dynamic overall reporting model, which is called Skandia "navigator" to help reflect the company's knowledge capital. Navigator, as a real measurement system of knowledge capital, not only reflects the stock of knowledge capital, but also reveals and analyzes the changes and reasons of knowledge capital, and pays attention to the preservation and appreciation of knowledge capital. Scardia's practice has attracted wide attention from colleagues at home and abroad. Some experts say that the quantitative evaluation of knowledge capital is an important milestone in the transition from the industrial economy era to the knowledge economy era.
In China, so far, only the measurement of patents, trademarks and other intellectual property assets is reflected, and most intellectual capital cannot be measured in currency. However, the knowledge capital that can be reliably measured should be reflected in the financial statements, and its measurement attribute should reflect the actual value of knowledge capital with fair value; For the knowledge capital that cannot be measured at present, it is disclosed outside the financial statements.
Verb (abbreviation of verb) Operation and management of knowledge capital
How to manage and utilize intellectual capital, protect and develop intellectual capital has become the core of enterprise reform and development in China, and it is also the key to enhance China's international competitiveness.
1, conceptually accepting intellectual capital
To manage knowledge capital, we must first accept it conceptually and acknowledge that knowledge capital is a more important factor of production than material capital and monetary capital. Intellectual capital can bring economic benefits to enterprises, so it should obtain "residual claim". Knowledge capitalization is a major change in the property right system, and it needs corresponding laws and regulations to provide support and guarantee for its operation.
2. Incorporate intellectual capital into the total assets of the enterprise.
At present, the market value of many large enterprises in the world is often much higher than their actual total assets, while the value of most fast-growing companies, such as Intel and Microsoft, is far from the book value. For example, Microsoft's market value is about 500 billion US dollars, and its total assets are only equivalent to 10% of its market value. The difference between market price and asset price reflects the value of intellectual capital. Because it embodies the value of intellectual capital, Bill Gates ranks first in the world with his personal total assets of 654.38+000 billion yuan. In brand-name products enterprises and high-tech enterprises, the proportion of intellectual capital in the total assets of enterprises is getting higher and higher. Companies should change the calculation method of total assets of enterprises in the past and regard intellectual capital as a part of enterprise assets.
3. Establish a knowledge management system
Technological innovation and management innovation are important sources of knowledge capital. Enterprises should first establish a technological innovation mechanism, increase investment in technological research and development, strive to improve their R&D and innovation capabilities, encourage mass technological innovation activities, strengthen digestion, absorption and innovation of imported technologies, and promote technological progress of enterprises; At the same time, it is necessary to promote enterprise management innovation, encourage employees to participate in knowledge sharing, and comprehensively improve the ownership of enterprise knowledge capital.
4. Determine the profit sharing form of knowledge capital.
The profit sharing form of intellectual capital can be cash or shares. Among them, share distribution is a common practice of global enterprise competition, which can effectively attract talents and increase the cohesion of the company. In Silicon Valley, California, USA, the hot spot of knowledge economy, share distribution has become a routine practice to attract management talents and high-tech talents. When quantifying the intellectual capital of talents, we must consider the level and output of intellectual capital. On the one hand, the quantification of knowledge capital is linked to its own value, which can be reflected by employees' education level, working years, positions and skills, which can be determined before the formation of knowledge capital; On the other hand, linking the quantification of knowledge capital with its output should follow the principle of market exchange, which can be determined after the operation of knowledge capital. (Text/Cheng Shuhua Bu Guoqing)