Proceedings of the 12th European Conference on Knowledge ...

9. Conclusions
Camilo Augusto Sequeira and Eloi Fernández y Fernández
The results <strong>of</strong> <strong>the</strong> first application <strong>of</strong> <strong>the</strong> method highlight its strengths, but also point to a number <strong>of</strong>
improvements that need to be incorporated, both with respect to <strong>the</strong> method itself and application
procedures/dynamics. One positive aspect is in providing executives with <strong>the</strong> ability to identify and
map <strong>the</strong> most important intangible assets, through a sequence <strong>of</strong> cause and effect, starting with
stakeholder expectations and ending with an inventory <strong>of</strong> intangible assets and related sources <strong>of</strong>
added value. In addition to identifying <strong>the</strong> most relevant intangible assets, <strong>the</strong> pilot application also
provided <strong>the</strong> opportunity to consolidate <strong>the</strong> information and data necessary for <strong>the</strong> valuation
procedure. Fur<strong>the</strong>r Aspects: Using this procedure, management can analyze in-depth <strong>the</strong> processes
and organizational competencies in <strong>the</strong>ir search <strong>of</strong> intangible assets, as well as <strong>the</strong> impacts on
financial results, as pointed to by <strong>the</strong> indicators most closely related to each asset. The concept <strong>of</strong>
Sources <strong>of</strong> Added Value provides a way <strong>of</strong> managing intangible assets using <strong>the</strong> very resources that
comprise
such sources. As such, <strong>the</strong> valuation procedure used by <strong>the</strong> method uses, as inputs, <strong>the</strong>
financial figures and information that are most closely related to <strong>the</strong> organization and its performance.
This approach contrasts with o<strong>the</strong>r methods that start with market value and, from <strong>the</strong>re, proceed to a
division and allocation <strong>of</strong> value to each <strong>of</strong> <strong>the</strong> organization's intangible assets (Haigh, D. (2009)).
One aspect to consider in future development is to balance and optimize <strong>the</strong> time commitment
required <strong>of</strong> an organization's executives with <strong>the</strong> work required <strong>of</strong> facilitators to process previously
existing organizational data, a task that is <strong>of</strong>ten an arduous one without <strong>the</strong> active collaboration <strong>of</strong>
executives. Ano<strong>the</strong>r finding that came to light during <strong>the</strong> application <strong>of</strong> <strong>the</strong> method concerns <strong>the</strong>
concept <strong>of</strong> valuation, which must be previously explained and aligned to avoid creating false
expectations as to results. The method highlights <strong>the</strong> difficulty <strong>of</strong> valuing assets to help establish an
objective link between <strong>the</strong> activities <strong>of</strong> identification and valuation, and mapping <strong>the</strong> link to financial
performance indicators and <strong>the</strong> organization's financial performance. This difficulty points to <strong>the</strong> need
for future work on this <strong>the</strong>me.
Acknowledgements
This project
was made possible thanks to <strong>the</strong> support and encouragement <strong>of</strong> <strong>the</strong> Petrobras Division <strong>of</strong>
Management Systems
Development and Knowledge Management. We would also like to
acknowledge and thank Washington Salles, Alexandre Korowajczuk, Antônio Sergio, and Irani
Varella.
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