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

Marta Christina Suciu et al
In choosing <strong>the</strong> indicators and <strong>the</strong>ir relationship with o<strong>the</strong>r systems <strong>of</strong> organizational control
issues may cause problems. It <strong>of</strong>ten happens that <strong>the</strong> indicators are not identified in accordance
with <strong>the</strong> organization's strategy, but are chosen in relation to <strong>the</strong>ir already existing business
indicators. Moreover, despite <strong>the</strong> new information technologies, systematic measurement <strong>of</strong> <strong>the</strong>se
indicators is <strong>of</strong>ten difficult, requiring <strong>the</strong> involvement and ongoing commitment <strong>of</strong> all functions <strong>of</strong>
<strong>the</strong> organization.
It is effective only if it is adapted to <strong>the</strong> needs <strong>of</strong> <strong>the</strong> company that intends to implement it.
Perspectives to be considered could be, <strong>the</strong>refore, different and more than planned. It is a great
need for customization <strong>of</strong> <strong>the</strong> tool which may require <strong>the</strong> organization considerable resources <strong>of</strong>
expertise, time and finance. If <strong>the</strong> company introduces this method, without making clear that it
intends to apply it and without <strong>the</strong> necessary resources (human, technological and financial) may
be confronted with a dramatic failure <strong>of</strong> <strong>the</strong> project from unforeseen consequences.
The method still tends to focus on economic and financial measures and to be focused on <strong>the</strong>
inside. Three <strong>of</strong> <strong>the</strong> four perspectives <strong>of</strong>fered are focused on internal resources, <strong>the</strong> cause and
effect relationship that characterizes <strong>the</strong> company's internal functioning.
There is an inherent difficulty <strong>of</strong> this method to identify, measure and interpret facts, especially
intangible assets and stock <strong>of</strong> knowledge. A limitation is its own human resources, in fact, <strong>the</strong>
model considers <strong>the</strong>m as integral part <strong>of</strong> learning and growth perspective, which <strong>of</strong>ten
underestimate <strong>the</strong> value and knowledge <strong>of</strong> individuals, particularly in companies operating in
those areas where pr<strong>of</strong>essional and management skills are extremely important .
Balanced Scorecard is designed as an internal document. This makes it very difficult to compare
with its competitors in similar documents.
4. An attempt to define a reference model for intellectual capital reporting in
Romanian SMEs
In recent years, several approaches have been identified for <strong>the</strong> identification, classification and
measurement <strong>of</strong> intellectual capital components. Although <strong>the</strong>re is an agreement meant to define <strong>the</strong>
components <strong>of</strong> intellectual capital (human, structural and relational), <strong>the</strong>re is no uniformity in <strong>the</strong>
elements that make up <strong>the</strong> three categories.
These elements are crucial in strategic terms, in a position to influence organizational structure, its
features and level <strong>of</strong> pr<strong>of</strong>essional services is essential to create value, develop and <strong>the</strong>n implement a
strategy based on knowledge.
Traditional accounting approaches fail to understand <strong>the</strong> total value <strong>of</strong> intellectual capital components,
especially regarding those intangible elements that are increasingly important on competitive level,
significantly determines <strong>the</strong> value <strong>of</strong> a company and its prospects for future growth. In many cases,
<strong>the</strong>se factors are beyond recognition in <strong>the</strong> budget, ei<strong>the</strong>r by nature and manner <strong>of</strong> acquisition <strong>of</strong>
<strong>the</strong>se resources or conventions governing <strong>the</strong> operation model. Based on this approach to be
constructed, placed as attachments to <strong>the</strong> accompanying financial statements, are able to provide a
more appropriate competitive sustainability <strong>of</strong> <strong>the</strong> organization.
Given <strong>the</strong> repeated observation that intellectual capital is an increasingly important component in
determining <strong>the</strong> success <strong>the</strong> undertaking should be accepted that, although many researchers have
developed various instruments designed to measure, we are still far from finding permanent solutions
and widely accepted. It is not yet defined a model that has <strong>the</strong> agreement <strong>of</strong> <strong>the</strong> business community
and scientific management.
There are some differences and fears to overcome, especially in what regards <strong>the</strong> culture <strong>of</strong> privacy
management and time to be cautious in disclosing information outside <strong>of</strong> <strong>the</strong> success factors,
strategies and implementation programs. These tools <strong>of</strong> analysis, <strong>the</strong>refore, must be known
entrepreneurs and company executives to become more open in providing such information and
understand that information about <strong>the</strong>se values may be an important factor <strong>of</strong> credibility and success
for <strong>the</strong> organization.
We have identified some characteristics, which should be a model for measuring intellectual capital
and can <strong>the</strong>n begin from <strong>the</strong> disadvantages that <strong>the</strong> Balanced Scorecard model and elements <strong>of</strong>
similarity and diversity <strong>of</strong> structure and conditions <strong>of</strong> various methods that scorecard are related. The
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