Invisible Balance Sheet - Sveiby Knowledge Management

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CONTENTS The know-how company’s balance sheet CHAPTER 12 Appendices WM-Data’s annual report BNL’s annual report &panneforeningen’s annual report The computer service consultants Computer shares The management consultants The stockbrokers The profitability of advertising agencies The staff turnover of the advertising agencies CHAPTER 13 The Key Indicators Defined . 94 96 96 101 102 104 111 115 120 128 130 133
Forword “The Invisible Balance Sheet” is an attempt to show the management of knowhow companies practical methods and procedures for presenting their company’s most important resource, its personnel, in a more informative way than through pretty colour photographs. The book defines and describes more than 35 key indicators and puts them into a theoretical context. They have been developed by a group of seven people: Elisabet Annell, head of the T nnervik Group, Siv Axelsson, of the Affa rsv arlden Group, Per-Magnus Emilsson, Managing Director of the KREAB Group, Hans Karlsson, an authorised public accountant at Bohlins Revisionsbyri3, Karl Erik Sveiby, editor of the management magazine Ledarskap (and also editor of this book), Carl Johan Wangerud, of Semco Management Consultants, and Stig Vikstro m, authorised public accountant at Revisionsgruppen Lindeberg & co. We call ourselves the Konrad Group because we met for the first time on November 121987, and November 12 is “Konrad day in the Swedish calendar. We presented the results of our first year’s workinJanua~ 1988 in a consultancy study called “The New Annual Report”. The response we received exceeded all expectations and many know-how companies soon started to use the key indicators in their 1988 annual reports. We also presented the study at an international research symposium on know-how companies at the University of Ume in June 1989. As always when new methods are introduced, questions arise. We have therefore collected all the experience and viewpoints we received, including other research in this field, and written this book. We have had great help from Sven- Enk Johansson, an authorised public accountant who wrote the chapter on the value of know-how companies, and Monica Nicou, a management consultant ,.. - .,m.w--”-+ - . . ,. 7
Page 2 and 3: THE INVISIBLE BALANCE SHEET Key ind
Page 4 and 5: F *, ., ..+ . . . 4 .“: ,.. .’:
Page 8 and 9: who contributed to the chapter on c
Page 10 and 11: I I t KAPITEL I 10 “Clients” or
Page 12 and 13: “The know-how company’s annual
Page 14 and 15: KAPITEL I 14 clear picture of the s
Page 16 and 17: KAPITEL II 16 because it is primari
Page 18 and 19: 18 “The Agency” Four Types of K
Page 20 and 21: 20 The Compan ‘s Three Types of c
Page 22 and 23: KAPITEL II 22 The consultant accoun
Page 24 and 25: Proportion of revenue people 50 n O
Page 26 and 27: Number of days’ education/RP The
Page 28 and 29: KAPITEL N 28 CHAPTER IV Structural
Page 30 and 31: “It is the consultancy compan s s
Page 32 and 33: “There are three cornerstones to
Page 34 and 35: 34 Taken together, the number of ch
Page 36 and 37: KAPITEL IV 36 efficient forms of bo
Page 38 and 39: 38 Three important processes To giv
Page 40 and 41: KAPITEL IV 40 @ our I strategic kno
Page 42 and 43: 42 CHAPTER V Customer Capital An im
Page 44 and 45: KAPITEL v 44 of customer capital pr
Page 46 and 47: KAPITEL V 46 warning. Many firms sy
Page 48 and 49: The top five customers’ percentag
Page 50 and 51: 50 Traditional yardsticks are not s
Page 52 and 53: 52 Value added Bj6rn Borg The Value
Page 54 and 55: Profit margin~alue added, “/ 0 Th
Page 56 and 57:
Years empbyecl/RP J nobody leaves,
Page 58 and 59:
Number of RP empfoyed less than a y
Page 60 and 61:
KAPITEL VII 60 how companies in the
Page 62 and 63:
62 etc. The new investment is of a
Page 64 and 65:
KAPITEL VIII 64 The importance of c
Page 66 and 67:
CHAPTER IX Valuation and Analysis o
Page 68 and 69:
KAPI’I’EL IX 68 financial indic
Page 70 and 71:
70 Profit requirements and distribu
Page 72 and 73:
KAPMEL IX 72 were. (Cap Gemini boug
Page 74 and 75:
KAPITEL IX 74 backwards from the yi
Page 76 and 77:
76 Schedule for valuing quoted knom
Page 78 and 79:
78 3 OTHER KEY INDICATORS FOR QUOTE
Page 80 and 81:
I 1 KAPITEL X so company, while the
Page 82 and 83:
KAPITEL X 82 Pronator AB 1988 Viak
Page 84 and 85:
CHAPTER XII The Know-How Company’
Page 86 and 87:
KAPITEL XI 88 These figures should
Page 88 and 89:
How much @ TrelMor ‘s, Datatronic
Page 90 and 91:
KAPITEL XI it can perhaps be assume
Page 92 and 93:
94 The know-how company’s balance
Page 94 and 95:
KAPITEL XII 96 CHAPTER XII Appendic
Page 96 and 97:
KAPITEL XII 98 and profitability. V
Page 98 and 99:
100 Deeper values Titles, credit ca
Page 100 and 101:
KAPITEL XII 102 Angpanneforeningen
Page 102 and 103:
KAPITEL XII 104 The computer consul
Page 104 and 105:
106 to say the least. Indeed, Progr
Page 106 and 107:
KAPITEL XII 108 its competitors. Fo
Page 108 and 109:
110 the company’s consultants sho
Page 110 and 111:
112 tax is 25%, the required post-
Page 112 and 113:
KAPITEL XII 114 than the sector ind
Page 114 and 115:
116 situation, are to be found amon
Page 116 and 117:
118 Not so international While Swed
Page 118 and 119:
120 The stockbrokers From an Affars
Page 120 and 121:
122 examples of how new needs are c
Page 122 and 123:
KAPITEL XII 124 More and more broke
Page 124 and 125:
KAPITEL XII 126 .——. . . Aud Bo
Page 126 and 127:
128 Profitability of the advertisin
Page 128 and 129:
130 Staff turnover in the advertisi
Page 130 and 131:
K4PITEL XII 132 says it should be.
Page 132 and 133:
KAPITEL Xlll 134 Customer relations
Page 134 and 135:
KAPITEL XIII 136 Profit margin This
Page 136 and 137:
KAPITEL XIII 138 Value added per re
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