Clearing the fog
Without a doubt, the area of measuring know-how is undergoing fundamental change. For some the pace of reform is too slow, while for others it is a very scary proposition. This has led to an
intense
debate on the perceived and actual value of specific measures.
I recently attended a talk on this topic and the conversation became very heated. One area of
contention
was how to place a value on the notion of a corporate or business culture. The presenter, who was an
accountant
, argued that business culture was not an asset, it cannot be controlled and owned, so placing a value on its perceived worth was meaningless. Others in the audience took another view. They argued that the attitudes of staff and how they feel towards the business and its customers must be
reported
on. They argued that a so-called bad culture has a debilitating effect on knowledge and innovation in any business or team. In that situation everything in a business becomes difficult. Not surprising they felt efforts must be taken to measure the culture of a business.
Similarly, clearing the fog of measure does not stop there. For example, what is the benefit of
putting
a dollar value on a patent if the person who was primarily involved in its development
leaves
the organization,
especially
if a business has not captured their insights and knowledge before they left?
As you can see, clearing the fog on measuring know-how is not an easy task and it can raise more questions than answers. However, it is time for managers to search and trial different measures. As long as this is done in an accurate and
truthful
way, we will benefit. Particularly if accountability is high and the business looks to generate a more enlightened approach.
Sit back and watch as the debate on placing a better value on knowledge and innovation is explored in the
decade
ahead. This topic will be firmly on the agenda for many
years
to come. However, managers cannot afford to wait and need to deploy a range of measures that go beyond just reporting. We need to mine out what knowledge is
vital
and why, then stimulate
methods
, tools and systems to make it easier to succeed. We may not be able to totally clear the fog on how to measure know-how but we can improve the level of awareness and inquiry on how know-how adds value.
Summary
In the knowledge era, business can no longer measure its performance and future purely on traditional financial
reports
. What is required is a fresh approach to exploring how knowledge fuels business success. With this in mind it is
vital
that each business asks and explores how its know-how is creating value. For example, what is the current standing in how a business
relates
to its customers? How successful is the business in stimulating a
healthy
learning culture while protecting its intellectual property? Is a business able to build systems and processes it requires to foster improved innovation and service delivery? Such questions are central to ensuring
lasting
success. Only when these types of conversations and reporting become second nature will there be a formula for long-
term
growth, renewal and inspiration.
Chapter 16:
Passing the Final Test
Overview
The dynamic principle of fantasy at play . . . belongs to the child, and as such appears to be inconsistent with the principles of serious work. But without this playing with fantasy, no creative work has ever yet come to birth.
(Carl Jung)
Passing the final test requires:
-
being a
magnet
for learning
-
questioning our self-talk and inner dialogue
-
removing our ego from the equation
-
being aware of our
arrogance
and overconfidence
-
rediscovering the spirit of play at work.