The biggest problem facing many Kiwi businesses is mediocre productivity... and the number 1 driver of productivity is INNOVATION
Productivity | Innovation & Culture | Intellectual Assets
Kiwis are known for their inventiveness and that should make your businesses highly productive and profitable. That most Kiwi firms struggle with their productivity and do not harvest the maximum possible value from their innovation and business efforts has been a perplexing puzzle. Forté management's research and practical experience in business, management and economic development provides important new answers to that puzzle.
First, the innovation process has two important stages, initiation, and implementation. Initiation roughly equals invention, creativity or discovery. Implementation is where the value is created and captured and therefore drives productivity.
Second, national culture influences how people think, solve problems and relate to the world around them. It varies significantly and in important ways from nation to nation. And one of the most important differences are relative strengths or weaknesses in the two stages of the innovation process. Kiwis are much more motivated and excited by the initiation stage than by implementation – which explains why we can be highly inventive but still not be highly productive and prosperous.
That means it’s really important to play to our strengths – more important possibly than for businesses in any other nation. Helping firms recognise their strengths and their opportunities and building strategies to create and harvest maximum value is the service that Forté management provides to your firm.
One of the greatest opportunities available to Kiwi firms is to create and capture value from their intellectual assets. According to Standard & Poors and Intellectual Assets Magazine, intellectual assets represent up to 80% of a businesses value. Value that never appears on your balance sheet, rarely in management plans, and hardly ever in your bank account. Intellectual assets are all the knowledge, production and quality systems, designs and the like, whether registered or not, that are used to transform physical and financial capital into products and services.
Forté Management helps businesses identify their intellectual assets, analyse their importance, their resilience in the face of compromise or loss, their development potential, protection options, and then develop and implement the intellectual assets strategy.