Knowledge Management
&
Intellectual Capital
知识管理和知识资本
Knowledge Management is the collective name for a group of processes and
practices used by companies to increase their value by improving the
effectiveness of the generation and application of their intellectual assets.
所谓知识管理，是指企业为提高自身价值，进而针对其知识财产的产出和
利用率所采用的一系列步骤和执行方法的总称。
Knowledge Management processes are meta-processes which cannot be
uniformly observed like physical processes but differ according to their
means of creation, nature, recording, transmission and mode of use.
知识管理是一个变化万端的过程，因而不能像观察一般物理过程那样概而
论之，要根据其产生方式、本质、记录、传播和使用方式予以区别。
What is Knowledge Management ?What is Knowledge Management ?何谓知识管理何谓知识管理
No two Knowledge Management implementations will be the same since the
infinitely variable human being is central to it.
由于知识管理的执行者是不同个体的人，所以具体的执行方式也会略无所同
何谓知识管理（续）
The majority of Knowledge Management implementations are
unsatisfactory as inappropriate, standardised approaches are
forced upon the varying predicament of the uninformed by the
uninformed.
多数知识管理执行方案之所以不尽如人意，是因为其制定和
执行者的无知。由于为不同的窘境所迫，他们采取了千人一
面这样欠妥的方式。
Epistemologies Epistemologies
– what are they – what are they
??
认识论角度的分认识论角度的分
析？析？
AUTOPOIETICS
自我创生性
清楚 Clear
Fairly clear – may be bifurcated
比较清楚（可能分为两部分）
有所偏爱 Some preferences
“顺风倒” “Flexible”
千篇一律 All things to all people
迷茫 Confused
不知所措 Very confused
CONNECTIVISTS
连通性
COGNITIVISTS
认知性
Ardent
axiologist
狂热的价
值论者
Ardent logical
positivist
狂热而又不失理
性的实证主义者 Cognitivist Connectivist Autopoietic
认知性 连通性 自我创生性
Epistemology and value theoryEpistemology and value theory认识论和价值论认识论和价值论
Ardent
Axiologist
狂热的价
值论者
Ardent logical
Positivist 狂热
而又不失理性
的实证主义者 Cognitivist Connectivist Autopoietic
认知性 连通性 自我创生性
Document
Management
文本管理
Content
Management
内容管理
Complex
Groupware
合成组件
Simple
groupware
单一组件
Capability
directories
能力目录
All / any / none
所有、任何、没有
什么样的知识管理工具才适合他们？什么样的知识管理工具才适合他们？
What KM tools suit them ?What KM tools suit them ?
BoisotBoisot的社会学习周期的社会学习周期 Boisot’s Social Learning CycleBoisot’s Social Learning Cycle
Scanning 审视
Dissemination 传播
A
bsorption
吸
收
Problem
Solving
解
决
问
题
A
bstraction
抽
象
化
Im
pacting
影
响
Look on this as the simple life
cycle of knowledge.
请大家看一下这个简单的知识生
命周期。
Technology and new business
environments such as the family
of e-businesses present
alternative realities for each leg
but the basic step is invariant.
电子商务这类技术和交易环境的
出现，使得图中每一步的实现方
法有了别样的方式。不过基本步
骤还是万变不离其宗。
Scanning 审视
第一步：审视（第一步：审视（11））Step 1 - Scanning (1)Step 1 - Scanning (1)
A many-to-few(one) activity in which all
known relevant information is collected.
This can be both a tacit and and explicit
knowledge activity.
这是一种以多对少（或对一）的活动，人
们通过这个过程收集已知的相关信息。这
种知识行为可以是隐性的，也可以是显性
的。
This is carried out for the team by the
individual researcher or a small group.
这一步骤由个体的研究者或小组完成，其服
务对象是一个团队。
Step 1 - Scanning (2)Step 1 - Scanning (2)
第一步：审视（第一步：审视（22））
Helped by 促进因素 Hindered by 阻碍因素
Excellent libraries (electronic or
traditional) and excellent access
发达的图书馆系统（电子或传统形式
的）和便利的浏览渠道
Professional technology watchers
专业的技术监督者
Special interest groups
特定的爱好者群
Time and ability to communicate
具备沟通的时间和能力
Training in the scientific method
科学的培训方法
Not invented here
相应机构贫乏
Uncertainty of purpose
目标不明
Poor sources
资源短缺
Fear of plagiarism and depredations
from those with vested interests
惧怕对既得利益的剽窃和掠夺
No idea how to research
不知如何进行研究
第一步：审视（2）--续
An understanding of purpose No time to research
对目标的理解 没有时间进行研究
Supportive IT IT which hinders
有IT技术支持 信息技术方
面有困难
Reward for contribution Silos and artificial boundaries
劳有所得 自然和人为的界线
Willingness to learn both as Utilisation rate mentality
an individual and as 智力利用率
an organisation
无论作为个人还是组织，
都十分好学
你用什么方法更好地审视问题你用什么方法更好地审视问题? ?
How do you facilitate scanning ?How do you facilitate scanning ?
Specialist material to individual
/ SIG or to the organisation.
专家研究个人（有共同观点的
人群）或组织的素材
Information
scientists
信息科学家
Requests
要求
Results
结果
Specialist
专家
解
决
问
题
Problem
Solving
第二步：解决问题（第二步：解决问题（11））
Step 2 - Problem Solving (1)Step 2 - Problem Solving (1)
Can be an individual process but the use of teams
is most common in this step. Accumulated
information is used in solving previously un-
addressed problems and creative problem solving
is critical. Communication in and between teams is
also critical.
这可以是一个个人化的过程，但团队的使用在
这一过程中却十分普遍。人们根据先人积累的
信息去解决以前没有涉及的问题，当然，创新
性的解决方式也是十分重要的。团队内部与团
队之间的交流、沟通也很重要。
This is carried out for the benefit of the
internal and external customer. 进行这项工
作，是为了服务内、外部客户的利益。
第二步：解决问题（第二步：解决问题（22））
Step 2 - Problem Solving (2)Step 2 - Problem Solving (2)
Helped by 促进因素 Hindered by阻碍因素
Creative problem solving
techniques available and used
具备并能运用创造性的技巧解决问题
TRIZ if appropriate
适当的创造性解决问题方法
Incubator IT if appropriate
适当的IT技术孵化器
Trust and no fear of ridicule
信任，不惧讥讽
Refined understanding of the
problem 对问题的精辟认识
Recording results as appropriate
适当的结果记录
No incentive to share solutions
没有分享解决方案的动机
Not invented here
相应机构匮乏
Can’t save unused solutions
无法保存没有使用过的解决方案
Management intolerant of failure
管理层对失败的容忍
Too much rigour too early
过严、过早
Big picture of the problem is obscured
and no contact with customer
对问题的轮廓不明，没有接触顾客
第二步：解决问题（2）--续
Teams fully trained, functioning Management unaware of what it
and with links to parallel teams takes to solve worthwhile problems
受过完整培训的团队，运行良好， 管理层对解决认为值得的问题所需的步骤不了解
并能和其他团队沟通
Constructive conversation Intolerance of the need for
建设性对话 communication opportunities
无法忍耐沟通的需要
解决问题的一般过程解决问题的一般过程A generic process for A generic process for
problem solvingproblem solving
Analyse the
Problem
Information
分析问题信息
Refine & state the
Problem
提炼并陈述问题
Select the
solution
Technique
选择解决技巧
Generate
consequences
& selection
导出结果并做出选择
Search for
ready-made
Solutions
寻找现成
的解决方案
Decide on
solution
Evaluation
决定对解决方案
进行评估
State the
Problem
陈述问题
Generate
solutions
提出解决办法
Select
Solution(s)
选择解决方案
契
机
：
遇
到
问
题
契
机
：
遇
到
问
题
T
he
s
tim
ul
us
–
a
p
ro
bl
em
T
he
s
tim
ul
us
–
a
p
ro
bl
em
Im
pl
em
en
ta
tio
n
Im
pl
em
en
ta
tio
n
执
行
执
行
技巧的种类技巧的种类 Types of TechniqueTypes of Technique
There are about 150 described in the literature, they are
roughly divided by function as follows:
文献记载的技巧有大约150种，按功能可分为如下几类：
But you’d be surprised how similar they are in their dependence on the metaphor
而这些技巧都有一个共性，即对潜台词的强烈依赖，这可能会使你感到惊讶。
Techniques to help
define the problem
确定问题的技巧
Divergent techniques
for the individual
不同的个人技巧
Divergent techniques
for teams
不同的团队技巧
Convergent techniques
趋同的技巧
抽
象
化
抽
象
化
第三步：抽象化（第三步：抽象化（11））Step 3 - Abstraction (1)Step 3 - Abstraction (1)
Can be an individual process but the use of teams is most
common in this step. Solutions are developed into general
statements (but often not) and are recorded to the most
efficient extent by the team and submitted to the knowledge
repository. Depending on its potential use and its nature, it
may be recorded for simple retrieval or recorded complexly
with context as required.
这也可以是一个个人化的过程，并且团队的使用
也最普遍。人们将对问题进行大体的陈述（实际
中通常不这样），并以最有效的方式对团队的陈
述内容进行记录，然后存入知识库中。根据其使
用潜力和本质的不同，对这部分内容既可以以简
单的备检的方式存储，也可以按要求，将其背景
情况一同存储起来。
This is carried out for the benefit of the internal and external customer.
进行这项工作，是为了服务内、外部客户的利益。
第三步：抽象化（第三步：抽象化（22））Step 3 - Abstraction (2)Step 3 - Abstraction (2)
Helped by 促进因素 Hindered by 阻碍因素
Management supports obtaining a
full understanding and the team
has the ability to do it. 充分理解管
理方面所提供支持的重要性，且团队
有能力操作
IP department facilitates when
appropriate
项目处理部门适时的协助
Results published internally and
externally as appropriate
适时地向企业内外公布研究结果
IT supports recording in a style
that will help re-use
利用IT技术协助记录，以便再利用
Too much faith or dependence on IT对
IT技术过分迷信或依赖
Feeling that there is no need to record
as it is boring and there is no incentive
to publish externally
认为记录工作枯燥而没有必要，且不想对外
发布资料
Generalisation seen as an unnecessary
extra activity
认为归纳工作是不必要的多余行为
Customers not made aware of the
possibilities
客户对存在的可能性不了解
第三步：抽象化（2）--续
Management supports Management erects barriers to
non-IT communication recording and generalisation
管理层对非IT领域交流的支持 管理层为记录和归纳工作设置层层障碍
Team reward is the norm No verbal presentation/training in
奖励整个团队是最起码的标准 the results - no learning
对研究结果没有口头的论述或培训，
就不会学到东西
Competence is allowed to grow Knowledge hoarding protects
允许能力进一步加强 job and reputation
认为知识的藏而不露是工作和名誉的保障
Semantics, mentalese and to a lesser extent, ontology, all play an important part. Semantic
networks are expensive but necessary and this has to be understood. Other than for strategic and
tactical reasons, the part played by mentalese vitally affects the degree of codification desirable
or possible.
语义学、精神语言，甚至从更小范围说，存在论都在这里扮演了重要角色。虽然建立语
义学网络耗资巨大，但却十分值得，这一点还望大家理解。相比之下，精神语言的作用
还不体现在战略、战术方面，而更主要的还是对规范等级是否理想或可能构成影响。
推动抽象化过程的完成推动抽象化过程的完成Facilitating abstractionFacilitating abstraction
Dependent on the characteristics of your people, those of organisations with which you may
collaborate or co-operate and the consequences of knowledge mis-understanding, define the
degree of codification appropriate to you. 根据你手下人以及合作组织员工的个性，还有对认
识产生误解的后果，对其进行分级，使之适合于你。
Are there any other factors ?
Recognise the importance of the scientific method.
那么还有其他因素吗?
你还要认识到运用科学方法的重要性。
隐性与显性的平衡（隐性与显性的平衡（11））The tacit / explicit balance (1)The tacit / explicit balance (1)
Somebody’s new knowledgeSomebody’s new knowledge
某人的新知识某人的新知识
Easily recordedEasily recorded
容易记载容易记载
Hard toHard to
recordrecord
难于记载难于记载
NotNot
possible ?possible ?
不可能？不可能？
Zones of flexibility
弹性区
Worth the effort if context is important
Worth the effort if the company is cognitivistic
如果其背景重要就值得努力
如果公司认知能力高就值得努力
Not worth the effort if the company is autopoietic or connectivist
Not worth the effort if it is quicker to re-learn than record
如果公司属于自我创生或靠关系维持的类型就不值得努力
如果再学习比记载进度快就不值得努力
Tacit - may be
minimised by
conversation, otherwise
it is experienced
personally
默许：这一部分可通
过谈话最大程度的抵
消。否则就需要个人
去完成了。
隐性与显性的平衡（隐性与显性的平衡（22））The tacit / explicit balance (2)The tacit / explicit balance (2)
Unfocused strategy
发散型战略
Focused strategy
集中型战略
Strategy of
codification
编码化战略
Strategy of
staying tacit
保持默许的战略
Make sure you codify more material
than before – it’s not too important
how you do it.
你只需要确定比以前做了更多的
资料编码工作就可以了，具体怎
么做并不重要。
Decrease the absolute level of
codification but beware of the
“Wagon Wheel Bar” situation.
减少编码中的绝对化程度，但还
要注意“车轮条幅”的情况。
Systematically increase the level of
codification and make sure you have a
single coherent approach.
系统化地加强编码的级别，并确保
你能遵循一个前后连贯的方法。
Codify except where knowledge
leakage would be damaging. Beware
the “Wagon Wheel Bar”.
除了有害的知识泄露外，对一切都予
以整理。注意“车轮条幅”的情况。
第四步：传播（第四步：传播（11））Step 4 - Dissemination (1)Step 4 - Dissemination (1)
Dissemination 传播
This is now dominated by technology in the
form of LANs, intranets, extranets and the
internet with e-mail fast becoming a major
detractor from efficiency. IT is not strictly
necessary in a small company.
局域网、企业内部网、外联网，以及互联
网和电子邮件这些技术垄断了时下的传播
形式，但同时它们也降低了人们的效率。
对小公司来说，IT技术并非不可或缺。
Dissemination also includes external
publication which can be, and often is, still
very old fashioned.
传播形式中还包括对外出版，而且通常采
用传统媒体的方式。.
This is carried out for the benefit of the
community at large as well as the internal and
external customers.
进行这项工作是为了保证内外部客户最大的
一致性利益。
第四步：传播（第四步：传播（22））Step 4 - Dissemination (2)Step 4 - Dissemination (2)
Helped by 促进因素 Hindered by 阻碍因素
Appropriate IT integrated with the IT of the
recipients
将IT技术与受众的IT技术适当的融和起来
Care with the use of e-mail 谨慎使用电子邮件
Diversity of means to disseminate to a diverse
group of recipients 利用不同的方式将信息传播到不
同的受众人群中去
IT easy to use from a mechanistic standpoint and
people are trained to use it 从技术角度看，IT技术
要便于使用。同时要训练人们去使用它。屈从于IT知
识储备是很容易的。IT技术的确减少了地理因素带来
的不便。管理层要将传播视为任何一项计划的有机组
成部分。
Technical silos
技术保密
Restricted networks
网络限制
Bespoke publication techniques
死板的宣传方式
Management policy on publication, style,
content, IP.对出版、风格、内容及项目处
理强加管理政策
Few web publishing skills
缺乏网络出版技巧
第四步：传播（2）--续
Submission to the IT knowledge Forgotten traditional methods
repository is easy 把传统的方法置之脑后
屈从于IT知识储备是很容易的
IT truly shrinks geographical effects Misuse of e-mail
IT技术的确减少了地理因素带来的不便 滥用电子邮件
Managers see dissemination
as integral to a project
管理层要将传播视为任何一项
计划的有机组成部分
Although there are problems across cultures and JV partners, the issues of dissemination centre around IT
and OS. Here are some network options but which should you recommend or use in which occasions:
虽然由于文化的的不同，以及合作者涉世不深的缘故，会出现一些问题，但这里研究传播问题的中
心还是围绕IT技术和操作系统展开。下面是一些你会推荐或使用的网络形式：
Intranets, extranets, WANs/LANs, Internet, None of these.
企业内部网、外联网、广域和局域网、互联网、其他。
促进传播工作Facilitating dissemination
BUT – tacit knowledge exchange requires other methods such as:
Wagon Wheel Bar, other tacit exchange processes, chat rooms, cafés
但是，隐性知识交换还需要采用其他方式，诸如:在“车轮酒吧”聊天，参与其他隐性交换过程，如
到聊天室和咖啡厅交谈等。
Socialise
社会化
Internalise
主观化
Combination
组合
Externalise
具体化
From 源自
Tacit 隐性
Explicit 显性
To 用于 Tacit 隐性 Explicit 显性
Nonaka and Takeuchi
第五步：吸收（第五步：吸收（11））Step 5 - Absorption (1)Step 5 - Absorption (1)
The reuse of knowledge is very closely
influenced by the processes in steps 3 and 4.
The means of absorption must match the
means of abstraction and dissemination, hence
must accommodate tacit and explicit
exchange. Explicit absorption must
acknowledge the need for the context and
should facilitate publishing on demand.
这一步对知识再利用的影响与第三和第四
步很相近。由于吸收的方式要与抽象化和
传播的方式匹配，因此必须包含隐性和显
性的交换。显性吸收的进行首先要承认对
知识的需求，并在需要时推出更多出版物。
This is carried out for the benefit of the
receiver and his/her customers.
进行这项工作是为了维护受众及其客户的利
益。
A
bsorption
吸
收
第五步：吸收（第五步：吸收（22））Step 5 - Absorption (2)Step 5 - Absorption (2)
Helped by 促进因素 Hindered by 阻碍因素
Appropriate IT compatible with the
IT of the poster and general
retrieval ability
能够兼容网络贴图及公众检索的适当IT
技术
Understanding of the structure of
the group that created it
了解创建这种技术的工作组机构
Understanding of their context if
appropriate
如果合适的话，了解其上下文
Feedback on use
对使用情况的反馈
Readiness to acknowledge sources
愿意承认信息出处
Not invented here, pride
不予理会、态度傲慢
Restricted vision of application
对信息应用的看法狭隘
Knowledge hoarding attitudes“知识保护
主义”
Lack of clarity about ultimate use of
material
对物尽其用缺乏认识
Restricted access to sources
限制他人获取资源
Management attitude to collaboration
在合作上采取得过且过的态度
第五步：吸收（2）--续
Access to, and open dialogue with originators
接触原作者，并与其公开对话
Common language and understanding
用词通俗易懂
Accepted Knowledge Management has little to offer. It should be recognised that
while, for the originator, absorption is a step in the cycle which has consequences,
for the user, this is the start of their own cycle.
知识管理这一概念已为人们接受，这里无需赘言。但有一点还需指出，在整个学习循
环中，吸收过程是创作者对使用者产生影响的一步，也是他们之间循环的开始。
The following sequence is popular but probably misguided: Data – Information –
Knowledge – Wisdom. In any case, degradative pathways are most common:
数据——信息——知识——智慧，大家可能都很熟悉这个顺序，但也恰恰是这个顺序
能产生误导。在多数情况下，下面画出的降级路线图才是最普遍的事实。
如何更好地吸收如何更好地吸收Facilitating absorptionFacilitating absorption
ORIGINATOR 创作者
Wisdom 智慧
Knowledge 知识
Information 信息
Data 数据
接受者
Wisdom 智慧
Knowledge 知识
Information 信息
Data 数据
第六步：影响（第六步：影响（11））Step 6 - Impacting (1)Step 6 - Impacting (1)
影
响
Impacting involves and acknowledgement of the
change of state of the user of the knowledge.
Metrics on the transfer of knowledge itself and on
the overall effect on the organisation are applied at
this stage.
影响的产生是知识使用者对自身状态改变的肯
定。在这一阶段，知识传播的量化以及它对组
织的整体影响开始起作用。
Although cycles can be restarted at any time (or at
any point dependent on the relationship of the
individual to the originator), completion of the
cycle represents the high value outcome.
虽然学习循环可以在任何时候重新开始（或者
在任一点，这取决于个人与原作者的关系），
但如果能够完成整个循环，将为我们很大的收
益。
This is carried out for the benefit of the community at large.
从大局上说，这一步工作的进行是为了整体的利益。
第六步：影响（第六步：影响（22））Step 6 - Impacting (2)Step 6 - Impacting (2)
Helped by 促进因素 Hindered by 阻碍因素
A way of showing that it was all
worthwhile to the company
有一套向企业展示价值的方式
Feedback and appropriate
rewards
反馈及适当的奖励
The ability to predict where else
the knowledge may be used
具备预知其他知识用途的能力
Technology / business forecasting
预见技术和商机的能力
Feedback to peripheral players in
the learning cycle
对学习循环中的边缘参与者予以反馈
No appropriate metrics on knowledge
creation and use
在知识创新与利用上没有适当的量化方法
No way of showing how it helped the
organisation meet its strategic goals
没有合适的向企业展示知识如何服务其战略目标的
方法
Crude accounting / cost-benefit studies对成本
－收益及会计方面的研究粗枝大叶
No update of the companies competencies or
those of its people
对企业及员工的资质不予提高
Lack of reward or incentive to do it again
没有相应的奖励机制或干脆无心做这方面的工作
2nd generation IC can be used when a simple index is sufficient
对于第二代知识资本，只要有简单的指数，就足以令其为人所用。
3rd generation IC can be used when something more rigorous is needed.
而对于第三代知识资本，要想做到这一点，则要有更为严格的要求。
什么是影响？什么是影响？What was the impact ?What was the impact ?
Most CFOs and CEOs want to know whether their investment was,
or is, or will be worthwhile.
多数财务总监和首席执行官都想知道他们过去或现在的投资是否值得。
Can you measure the impact of knowledge management ?
你能衡量知识管理的影响吗？
结结 语语 ConclusionConclusion
1 People, their beliefs and their cognitive behaviours differ
人民的信仰和他们的认知行为各有不同
2 No company is homogeneous and one solution will not fit all
企业之间的情况也不尽相同，因此单一的解决方法不能保打天下。
3 Knowledge is used in diverse ways but not all of them create value
知识可以用于不同的渠道，但并非都能产生价值
4 2nd generation intellectual capital models reveal crucial
transformations
第二代知识资本模型揭示了一些重要变革的发生
5 Metrics can be devised to monitor the impact of knowledge
management
在监控知识管理的影响方面，可以采用不同的量化方法
1. Strategic and based on the company’s strategy – use IC processes to show how
knowledge is used. 战略性步骤及基于企业战略采取的步骤，即利用知识资本运行过
程向人们展示如何利用知识
2. Carry out an epistemological and philosophical assessment to find out what the
people think and how they like to work (or are made to work)从认识论和哲学角
度对人们思考与偏爱的主动（或被动）工作方式进行评估
3. Use a sensible requirements capture process.
采取合理的需求捕获程序
4. Make sure you have the hearts and minds of everyone, top to bottom.
确定你已经从身心两方面彻底地赢得了所有人。
5. Make a prioritised list of KM “tools and practices that are needed”, often not
IT at all. 按照先后顺序将所需的知识管理“工具和方法”列一个表，通常它们都不是
IT方面的东西
实施知识管理的实施知识管理的10 10 个步骤个步骤
10 10 steps in KM implementationsteps in KM implementation
实施知识管理的10 个步骤—续
6. Get the quotes
获取报价
7. Buy, install and test - may be done in steps
购买、安装与调试，这几步可以分阶段进行
8. Train – and never underestimate how big this can be
培训。注意，千万不要低估这一步骤的庞杂性
9. Improve and develop.
改善与开发
10. Keep an eye on strategic alignment and measure how you are getting
on.
时刻关注战略结盟的问题，并对自身的实时情况予以评估
知识管理是交互式合作营销的分支
KM is a subset of ICM
推动知识资本应用的经理们感悟的四种需求
The four needs experienced by managers driving
the application of IC
The need to disclose the presence of necessary and sufficient assets to make credible
the commencing or continuing creation of value.
需求一：揭示需求的存在，并予以充分的评估，在确保无误的情况下，开始或
继续创造价值
The need to continuously improve the effectiveness with which these assets
are put to value-creating use.
需求二：不断提高这些评估工作的效率，使其能运用到创造价值的过程中去。
The need to continuously improve the efficiency with which these assets are
creating value.
需求三：不断提高运用这些手段创造价值的效率
The need to increase the value of the firms resources and activities in the eyes of
different beholders.
需求四：提高企业资源和企业活动在不同持股者心目中的价值
传统的评估法和低效的营销理论
Traditional Valuation and Inefficient Market Theory
MV = NPV[CFoperations + CFidentified + CFunidentified
opportunities opportunities
+ CFownership claims + CFinformation assymetry]
市场价值＝净现值[现金流量
运营
＋现金流量
确定机遇
＋
现金流量
不确定机遇
＋现金流量
客户需求
＋现金流量
信息不对称
]
Enterprise
Value
企业价值
The components of enterprise value are FV and
CV!企业未来价值与现有价值的组成部分
MVA
可变活性管理
PV of
Current EP
现有企业门户的
计划成本
PV of
Future
Value
未来价值的
计划成本
Capital
Employed
吸纳的资金
Current
Value
(CV)
现有价值
Future
Value
(FV)
未来价值
Capital
Employed
吸纳的资金
Traditional/Tangible Assets
传统的有形资产
Intellectual Capital/Intangible
Assets
知识资本及无形资产
Current
Value
现有价值
Future
Value
未来价值
Traditional
Management
Focus*
传统的管理重心*
Share Price components ... 股价的组成...
from managing
来源于管理 ...
The New
Management
Imperative !
新的管理要求 !
The traditional management focus (and basis for firm valuation) is
mainly through the Income Statement and Balance Sheet. Thus the
emphasis in valuations is on extrapolating Current Value based on
the exploitation of Tangible Assets.传统的企业管理重心（以及企
业评估基准）主要放在损益计算书和资产负债表上，因此评估
的重点也就会是如何基于有形资产来推断现有价值。
Effect?
影响?
Embedded
Growth
Value
内含的增长价值
资产管理新论A new view on asset management
...
Enterprise
Value
企业价值
• Cash 现金
• Investments 投资
• Receivables / Debtors
• 应收帐款 / 债务人
• Payables / Creditors
应付帐款 /债权人
Monetary
货币
Physical
实物
Relational
关系
Organizational
组织l
Human
人力
In
ta
ng
ib
le
知
识
资
产
T
an
gi
bl
e
有
形
资
产
Industrial Economic Capital
工业经济资本
Intellectual Capital
知识资本
The traditional value chain perspective of a business focuses
only on monetary and physical assets
企业传统的对价值链的看法，这里只强调货币和实物资产
资源分类结构图 (© Göran Roos & Roland Burgman)
Resources Form 资源一览表
A
ss
et
R
ec
og
ni
ti
on
资
产
认
证
Property 财产
Plant 厂房
Equipment设备
Inventory库存
─ Finished Goods
─ 制成品
─ WIP 在制品
─ Raw Materials
─ 原材料
• Plant Flexibility设备适应性
• Plant Modernity 设备现代化
• Infrastructure Surrounding Plants周围基础设施
• Stranded Assets?不可售资产
• Tradability of Assets?可售资产
• Access Rights使用权
• Balance Sheet Strength资产负债表能力
• Inventory (Good and Usable, Obsolete,
Redundant)存货（好的和废的，陈旧的，多余的）
• 信用配给
• 未提取的设备
• 借款能力 (对以名
誉为立家之本的公
司尤为重要)
• Borrowing
Covenant Slack借
贷缓期契约
• 应收帐款的确定性
• 利润可兑现性
Cash 现金
Investments
投资
应收帐款 / 债务人
应付帐款 /债权人
• Plant Flexibility
• Plant Modernity
• Infrastructure
Surrounding Plants
• Stranded Assets?
• Tradability of
Assets?
• Access Rights
• Balance Sheet
Strength
• Inventory (Good
and Usable,
Obsolete,
Redundant)
• 客户忠实度
• 行为方面
• 态度方面
• 供货合同的质量
• 投标权、竞争权、
设计权
• 持股者支持的力度
包括有影响力的员
工
• 网络
• 管理税
• 客户合同
• 正式的结盟方、合
资人、供货协议
• 结构的合理性
• 非正式步骤
• 组织知名度
• 品牌的含意 (优势、
地位)
• 研发过程的产出率
• 企业管理的质量
• 技术优势、宣传优
势
• 隐性知识
• 成熟的人力开发
（HC
Development）能力
• 系统
• 正式化的过程
• 予以编码的知识
• 专利
• 品牌
• 刊头宣传
• 高层管理质量
• 高层管理经验
• 执行战略的能力
• 领导能力
• 解决问题的能力
• 员工的忠诚度
─行为方面
─态度方面
• 个人的名誉
• 劳动力的适应性
• 员工的投入程度
• 管理合同
• 有档可查的技能储
备
Monetary
货币
Physical
实物
Relational
关系
Organizational
组织
Human
人力
有
形
资
产
(Traditional) Economic
(传统的) 经济资产
Intellectual Capital
知识资本
A methodology should help companies manage and
measure all resource types
方法论有助于企业管理和衡量各种类型的资源
资源分类结构图(© Göran Roos & Roland Burgman)
• 厂房的灵活性
• 厂房的现代化程度
• 基础建筑周围的厂房
• 标准资产?
• 资产的可买卖性?
• 存取权
• Balance Sheet
Strength资产负债表
中有利的部分
• 库存（包括状态良好
并可以使用的，废弃
的和多余的部分）
财产
厂房
设备
库存
─ 制成品
─ 在制品
─ 原材料
资
产
认
证
The strategic perspective 战略全观察
Strategic Axioms 战略定律
Firms are rent-seekers.
企业是寻租人
Strategy is a deliberate set of actions
taken to create rents. 所谓战略，是
为创造租金而特意采取的行动
Rent creation involves obtaining a
strategic "fit" between the
organisation and its environment
创造租金的行为包括在组织与其所处
环境之间达到战略平衡的举措
The degree of fitness changes over
time due to competitive and other
(exogenous) influences.
这种平衡会根据竞争和其他外部的影
响而不断变化
Two types of rents
两种类型的租金
Monopoly rent
垄断租金
F Requires comparative
advantage.需要具有相
对优势
Scarcity rent
缺货租金
F Requires 需要
F Competitive advantage
相对优势
Types of Strategic Resources
战略资源的种类
Owned or ControlledOwned or Controlled
By the FirmBy the Firm
企业所有或为企业控制企业所有或为企业控制
Owned or ControlledOwned or Controlled
By the FirmBy the Firm
企业所有或为企业控制企业所有或为企业控制
Owned or ControlledOwned or Controlled
By the FirmBy the Firm
企业所有或为企业控制企业所有或为企业控制
AdditiveAdditive
附加附加
AdditiveAdditive
附加附加
Owned or ControlledOwned or Controlled
by the Other Partyby the Other Party
由第三方所有或控制由第三方所有或控制
Owned or ControlledOwned or Controlled
By the EmployeeBy the Employee
由雇员拥有或控制由雇员拥有或控制
KnowledgeKnowledge
EconomicsEconomics
知识经济知识经济
IndustrialIndustrial
EconomicsEconomics
工业经济工业经济
The utilisation of resources With different
behaviour
采取不同行动来利用资源
NetworkNetwork
EconomicsEconomics
网络经济网络经济
Examples of issues that can be discussed
论题举例
Present
Situation
现状
Wanted
Situation
理想状态
•Flexible 灵活
•Low growth 增长缓慢
•Limited Revenue 收入有限
•No intrinsic value无内在价值
•Inflexible 不灵活
•High growth 增长迅速
•Unlimited Revenue 收
入无限
•High intrinsic value内
在价值高
Examples of Resource Transformations 资源转换的例子
MONETARY
货币
PHYSICAL
实物
RELATIONAL
关系
ORGANISATIONAL
组织
HUMAN
人力
MONETARY
货币
PHYSICAL
实物
REL.
关系
ORG.
组织
HUMAN
人力
Knowledge
codification,
new IP
知识编码、
新IP
Building &
developing
relationships
建立并发展
关系
Developing
Prototypes
开发产品雏
形
Sales of
man-hours
出售工时
Sales of IP,
processes &
knowledge销售
IP、方法和知识
Produce
By
numbers
依靠定单数
量进行生产
Market
Intelligence
市场情报
Developing
competence
through use在实际
使用中开发能力
Relationship
selling,
preferential
deals关系销售,
特惠交易
Use of other
company’s
assets
使用其他企业
的资产
Importing IP,
processes,
association
with brands
引进IP和流程，
与别的品牌合作
Chance to
build skills in
relationship
handling在人际关
系的处理中培养技能
Sales of
products
产品销售
Facilities
build
relationships建立
关系所需的设备
Possible
new products
& know-how新
产品和技术窍门
Facilities to
train with
培训所需的设备
Investment
in assets
在资产方
面投资
Investment
in building
links
在建立关
系网上投资
Investment
in brands,
image and
systems投资
在品牌、形
象和系统
Recruitment
training,
conditions
新人培训,提出条件
Training
培训
Equipment
generates
products
由设备生产
出的产品
Networking
建立网络
Systems
generate
IP系统产
生的IP
investmenIt
In financial
Instruments
投资金融工具
Mental agility
思想的敏捷性 Social &
Behavioural
社会的和行为的因素
Tacit knowledge
隐性知识 Company image
企业形象
Cash & equivalents
现金及其他等价物
Cognitive
Competence
认知能力
Company
Brands
企业品牌
Explicit
Knowledge
显性知识
Customers
客户
A Navigator - a conceptual map A Navigator - a conceptual map 概念导航图概念导航图
MentalMental agility
思想的敏捷性思想的敏捷性
Company imageCompany image
企业形象企业形象
Cash &Cash & equivalentsequivalents
现金和其他等价物现金和其他等价物
CognitiveCognitive
CompetenceCompetence
认知能力认知能力
ExplicitExplicit
KnowledgeKnowledge
显性知识显性知识
CustomersCustomers
客户客户
Tacit knowledgeTacit knowledge
隐性知识隐性知识
We rely on top quality people to generate We rely on top quality people to generate
cash by staying at the cutting edge of thinkingcash by staying at the cutting edge of thinking
我们依赖于高素质的人为我们创造价我们依赖于高素质的人为我们创造价
值，因为他们的思想时刻处于领先地值，因为他们的思想时刻处于领先地
位。位。
An example of the core of strategic value creationAn example of the core of strategic value creation
战略核心价值创造举例战略核心价值创造举例
Effectors Diagram效应因子图
MONETARY
货币
RELATIONAL
关系
PHYSICAL
实物
ORGANISATIONAL
组织
HUMAN
人力
Value
Source
价值源
Value
Sink
价值沉
积物
Weighting
权重
Axiomatic strategy theory
战略定律论
Strategic Axioms 战略定律
Firms are rent-seekers 企业是寻租人。
Strategy is a deliberate set of actions taken to create
rents
所谓战略，是为创造租金而特意采取的行动
Rent creation involves obtaining a strategic "fit"
between the organisation and its environment
创造租金的行为包括在组织与其所处环境之间达到战略
平衡的举措
The degree of fitness changes over time due to
competitive and other (exogenous) influences.
这种平衡会根据竞争和其他外部的影响而不断变化
Rent = return above and beyond the level required by the
market for an investment of similar level of risk
租金 = 以较低的风险和超出市场要求的比例收回投资
Two types of rentsTwo types of rents两种类型的租金两种类型的租金
Monopoly rentMonopoly rent
垄断租金垄断租金
Requires Requires
comparative comparative
advantageadvantage
需要具有相对的优势需要具有相对的优势
FF Regulatory Regulatory
protection for protection for
the foreseeable the foreseeable
futurefuture
针对可预见的未来针对可预见的未来
采取调整性保护措采取调整性保护措
施施
FF Controls all of a Controls all of a
limited resourcelimited resource
对有限资源的方方对有限资源的方方
面面予以控制面面予以控制
Scarcity rentScarcity rent
缺货租金缺货租金
Requires competitive Requires competitive
advantageadvantage
需要竞争优势需要竞争优势
FF ValuableValuable
价值含量高价值含量高
FF Durable Durable 耐久耐久
FF Scarce Scarce 稀有稀有
FF Non-imitableNon-imitable
无法模仿无法模仿
FF Non-Non-
substitutablesubstitutable无法无法
替代替代
Value Chain Value Chain 价值链价值链
Inbound
logistics
原料物流管理
Service
服务
Marketing
&
Sales
营销与销售
Outbound
logistics
成品物流管理
Operations
生产
Infrastructure 基层组织
Human Resource Management人力资源管理
Technology development 技术开发
Procurement 采购
M
argin 利
润
Support
Activities
支持活动
Primary
Activities
基本活动
资料来源： Porter, . 1985: 《竞争优势》、《优秀业绩的创造与维持》
Characteristics: Think of a factory
标新立异：企业之所想
Is all about transformation of inputs into outputs. The value resides
solely in the resulting output.
投入转换的产物都是产出。价值只存在于结果产出（ resulting
output ）中
Sequential 延续性
Linear 线性
Economies of Scale 规模经济化
Primary resource cannot be Human 首要的资源不是人
If primary resource is relational or organisational then transformation
efficiency must be high
如果主要资源是关系或组织方面的，那么其转化率则必须高
Economies of Learning [Repetition] 学习的经济性 [循环]
Scaling is self replicating [. each sub set is also a value chain] in
order to achieve maximum effectiveness in the system as a whole
使尺表评分法能够自我复制（就是让每个分支形成单个的价值链），
以使整个系统的效能达到最大值
Efficiency vs. Effectiveness 效率与效能
A Value Chain has an inherent
drive towards efficiency
价值链对效率具有固有的趋向性
价值链价值链
High
高
Low
低 High 高Low
低
E
ff
ec
ti
ve
ne
ss
E
ff
ec
ti
ve
ne
ss
效
能
效
能
EfficiencyEfficiency
效率效率
V
A
L
U
E
C
H
A
I
N
Value Shop Value Shop 价值群价值群
资料来源： Stabel, . B., Fjeldstad,Ø. D.著:《如何拥有竞争优势：从供应链、商店和网络角度谈价值配置问题》, “战略管理周刊”, 19卷, 第五期, 1998
Procurement 供货
Infrastructure 基层组织
Human Resource Management 人力资源管理
Technology development 技术开发
SupportSupport
ActivitiesActivities
支持活动支持活动
PrimaryPrimary
ActivitiesActivities
基本活动基本活动
Find
someone
with a
problem
寻找遇到
问题的人
Control
/Evaluation
控制/评估
Execute
执行
Develop
alternative
solutions
开发可供
选择的解
决方案
Acquire the
right to
address the
problem
获得介入
该问题的
权利
Co-select
with client
one
solution与
客户一同
选择最后
的方案
Characteristics: Think of a R&D Laboratory
推陈出新：研发实验室的探求目标
Is all about (re-)solving customer problems. The value resides in two in
-separable components: The solution and the individuals that came up
with the solution. 解决客户的问题。价值存在于两个不可分割的因素中：
解决方案与提出经济方案的人。
Sequential 延续性
Circular 循环性
Economies of Scope 范围经济化
Primary resource cannot be Monetary or Physical
主要资源不能是货币或实物
If primary resource is relational or organisational then transformation
efficiency must not be high
如果主要资源是关系或组织方面的，那么其转化率则不能很高
Scaling is self replicating [. each sub set is also a value shop] in
order to achieve maximum effectiveness in the system as a whole
使尺表评分法能够自我复制（就是让每个分支形成单个的价值群），
以使整个系统的效能达到最大值
Efficiency vs. Effectiveness 效率与效能
A Value Shop has an inherent
drive towards effectiveness
价值群对效能具有余生俱来的趋
向性
VALUE SHOPVALUE SHOP
价值群价值群
High
高
Low
低 High
高
Low
低
E
ff
ec
ti
ve
ne
ss
E
ff
ec
ti
ve
ne
ss
效
能
效
能
EfficiencyEfficiency
效率效率
Value Network Value Network 价值网价值网
资料来源： Stabel, . B., Fjeldstad,Ø. D.著:《如何拥有竞争优势：从供应链、商店和网络角度谈价值配置问题》, “战略管理周刊”, 19卷, 第五期, 1998
Primary
Activities
基本活动
Procurement 采购
Infrastructure 基层组织
Human Resource Management 人力资源管理
Technology development 技术开发
Support
Activities
支持活动
Promote Network 推动网络发展
Manage Member Contracts
管理会员合同
Service Provisioning
服务储备
Infrastructure Operation
& Maintenance
基层组织运营与维护
Characteristics: Think of a Mobile Phone Operator
特立独行：移动电话运营商思考的问题
Is all about linking customers who are or wish to be
interdependent. The value resides in the enabling itself.
把独立的和希望独立的客户连接起来，价值就存在于运作之中
Parallel 同时传输
Non-Linear 非线性
Network Economics 网络经济
Primary resource cannot be Human or Monetary or Physical
基本资源不能是人力、货币和实物
transformation efficiency relating to Organisational or
Relational must be on the level of maximum marginal return
与组织和关系相关的转化率必须能使利润最大限度回笼
Scaling does not need to be self replicating in order to
achieve maximum effectiveness in the system as a whole
尺表评分法无需进行自我复制，这样整个系统的效能才能达到
最大值
Efficiency vs. Effectiveness 价值与效能
A Value Network has no
inherent drive towards
efficiency or effectiveness
价值网对效率或效能都没有固
有的趋向性
价值网价值网
High
高
Low
低 High
高
Low
低
E
ff
ec
ti
ve
ne
ss
E
ff
ec
ti
ve
ne
ss
效
能
效
能
EfficiencyEfficiency
效率效率
Synthesis 综论
Inbound
logistics Service
Marketing
&
Sales
Outbound
logisticsOperations
Infrastructure
Human Resource Management
Technology development
Procurement
M
argin
Support
Activities
Primary
Activities
Procurement
Find someone with
a problem
Control/Evaluation
Execute
Develop alternative
solutions
Infrastructure
Human Resource Management
Technology development
Support
Activities
Primary
Activities
Acquire the right to
address the problem
Co-select with client
one solution
Promote Network
Manage Member Contracts
Service Provisioning
Primary
Activities
Procurement
Infrastructure
Human Resource Management
Technology development
Support
Activities
Infrastructure Operation
& Maintenance
Primary basis For
Competitive Advantage
具备竞争优势的首要因素
Primary basis For
Competitive Advantage
具备竞争优势的首要因素
Primary basis For
Competitive Advantage
具备竞争优势的首要因素
Primary basis For
Competitive Advantage
具备竞争优势的首要因素
Primary basis For
Competitive Advantage
具备竞争优势的首要因素
Secondary basis For
Competitive Advantage
具备竞争优势的次要因素
Secondary basis For
Competitive Advantage
具备竞争优势的次要因素
Secondary basis For
Competitive Advantage
具备竞争优势的次要因素
Secondary basis For
Competitive Advantage
具备竞争优势的次要因素
Value Shop 价值群
Value Network 价值网
Effectors Diagram 效应因子图
MONETARY
货币
RELATIONAL
关系
PHYSICAL
实物
ORGANISATIONAL
组织
HUMAN
人力
Value
Source
价值源
Value
Sink
价值沉
积物
Weighting
权重
Value Chain 价值链
Overlaying logics and epistemology space
逻辑法与认识论相重叠的部分
Value Chain / Cognitivist
价值链 / 认知学派
Value Network / Connectivist
价值网/连通学派
Value Shop / Autopoietic
价值群 / 自创学派
Knowledge flows can increase interdependencies
and reduce coordination costs
知识的流动会增加人们的相依性，同时减少协调费
The importance of interdependencies and knowledge flows across organizational units of the
MNC has been recognized and extensively discussed (Doz & Prahalad, 1991; Ghoshal &
Bartlett, 1988; Gupta & Govindarajan, 1991; Hedlund & Nonaka, 1993; Simon, 1973). It is
knowledge flows that enable the transmission of unique solutions from one subunit to another,
the coordination of various connected units, and the collaboration among them. Simon (1973)
professed that a highly interdependent structure across subunits enables organizations to
economize on coordination costs. Information and knowledge have a critical role in managing
interdependencies, especially in the international arena, where task uncertainty may be very
high (Galbraith, 1973).
对于相依性的重要，以及跨国公司内部各部门间的知识流动的重要性人们已经有了认
识，并进行了广泛讨论 (Doz & Prahalad, 1991; Ghoshal & Bartlett, 1988; Gupta &
Govindarajan, 1991; Hedlund & Nonaka, 1993; Simon, 1973)。正是有了知识的流动，
某个下属部门提出的独到方案才能为另一个部门把握，这样才有了不同单位间的协调
和协作。西蒙（ Simon） (1973)认为，各分支部门间的高度相依性会节省组织在协调
费方面的投入。 而在对相依性的管理方面，信息和知识起到了重要的作用，特别是在
跨国企业中，因为在这样的企业中，任务不明确性会很高 (Galbraith, 1973).
知识的流动会增加人们的相依性，同时减少协调费—续
More recently, empirical evidence demonstrates the importance of knowledge flows
as a specific medium for unit interdependence. Darr, Argote and Epple (1995) found
that interdependent organizational units, connected through knowledge flows,
exhibited greater cost reduction than independent units. Ghoshal and Bartlett (1988)
found that communications across organizational units facilitated efficient
innovation. Gupta and Govindarajan (1991) similarly recognized the importance of
knowledge flows in facilitating organizational control across organizational
subsidiaries.
最新的观察结果显示，知识流动是组织相依性中一个很重要的介质。Darr,
Argote和Epple (1995)发现，相对于独立运行的部门，通过知识流动联系
起来的、具有组织相依性的企业部门可以节省更多费用。 Ghoshal 和
Bartlett (1988)则发现，组织各部门间的交流会推动企业创新的效率 。 同
样，Gupta和 Govindarajan (1991)也发现，知识的流动会促进对各个子公
司的组织控制。
知识的流动会增加人们的相依性，同时减少协调费
—续
The conclusion is that the ability to transform Human Resources
into Organisational Resources allows for decreased coordination
costs at a given level of interdependence or increased
interdependence at a given level of coordination costs.
由此我们可以得出结论，在将人力资源转化为组织资源时，要考虑
在保持特定相依性的水平前提下，降低协调费用；或者说，在保持
特定协调费用的前提下，提高相依性。
Designing Performance Indicators
设计性能指标
Why? 原因何在？
The purpose of performance
indicators is to allow you to see how
well you actually perform as
compared to how well you ought to
perform
设定性能指数的的目的在于使你
看到自己的表现如何，同时让你
知道符合标准的运作模式。
Specialist Technology Transfer metrics exist.
存在对专业技术转化的量化问题。
2nd generation IC can be used when a simple index is sufficient
对于第二代知识资本，只要有简单的指数，就足以令其为人所用。
3rd generation IC can be used when something more rigorous is needed.
而对于第三代知识资本，要想做到这一点，则要有更为严格的要求。
由此会产生什么影响？Well, what was the impact ?
Most CFOs and CEOs want to know whether there investment was / is / will be
worthwhile.
多数财务总监和总执行官都想知道他们过去、现在和未来的投资是否值得。
A minimum set of
measures
最精简的措施
Activity chains
活动链
Industry standards
企业标准
Major value drivers
重要价值动因
Major cost drivers
重要成本动因
THE NAVIGATOR
导航图
Selecting appropriate metrics Selecting appropriate metrics 选择合适的量化方法选择合适的量化方法
Mental agility
思想的敏捷性
Company image
企业形象
现金及其等价物
Cash & equivalents
Cognitive
Competence
认知能力
Explicit
Knowledge
显性知识
Customers
客户
Tacit knowledge
隐性知识
Financial metric 金融量化法
Creative problem
solving metric
创新性解决问题能力的量化
Premium rate index
一级指数
Publication rate
& quality metric
出版率和质量量化
Market research
metric
市场研究的量化
Codification metric
编码化的量化
Examples of metrics suggested by the navigatorExamples of metrics suggested by the navigator
从导航图得出的一些量化实例从导航图得出的一些量化实例
Metrics combined using
combinatorial mathematics
运用组合数学得出的量化法
Financial metric
金融量化法
Creative problem
solving metric
创新性解决问题能力的量化
Premium rate index
一级指数
Publication rate
& quality metric
出版率和质量量化
Market research
metric
市场研究的量化
Codification metric
编码化的量化
0
1
浮动指数 1
浮动指数 2
浮动指数 3
浮动指数 4
股票指数 1
股票指数 2
1999 2000 2001 2002
Other metrics in
the minimum set
精简案中的其他量化法
The result is a set of metrics which
address the critical pathways of the company including those which
are knowledge intensive and make a real contribution to company
value creation 最后的量化法重点落在企业（包括知识密集型企
业）的一些关键环节上，并会对企业的价值创造起到真正作用
Making an index Making an index 制作指数表制作指数表
Navigator 导航器
Scenarios
设想
Real alternatives that
management can
implement. 管理层可以
执行的真实选择。
PEST / SWOT PEST(政
治、经济、社会、技术
) / SWOT(强项、弱项、
机会、威胁)
Identify stakeholders
and value attributes.确定
价值相关者和价值属性
Transform 转化
Description of
activities in IC
language.对知识资
本语言活动的描述
Determine cost and
risk elements.确定
费用与风险因素。
Real options and
other elements.实物
期权和其他因素。
Generated navigators.
Measurands
alignment.
被测变量组.
Other metrics.
其他量化标准.
IC process
知识资本过程
Generated
measurands
生成的被测变量
Value
hierarchy
价值分层
Value = f (influence, flow)
价值 = f (影响，流动)
Measurement interface
度量界面
ROxx
Figures
数据
Risk
model
风险模型
Cost
model
费用模型
42
3rd Generation
第三代理论
How? 如何执行？
Identify the stakeholder(s) for whom you are performing
明确你为之服务的价值相关者
Identify the object under observation
通过观察明确目标
Extract their referent objectives
提出与他们有关的目标
Break these objectives down into attributes
以不同的属性细分这些目标
Design measures
设计需要采取的措施
Transform into measurement space
将其转化入度量空间
Combine measures back up to relevant level
将不同措施进行合成，使其聚化到相关的水平上
Perform and Disclose
执行并公开
知识资本的公开方式
Disclosure policy relating to IC
All intellectual capital is characterised by the following:
所有知识资本都具有如下特性：
It can be used simultaneously by several users at several locations
(Non-rivalry resource) 知识资本(非竞争资源)可以为不同地区的不同使用者同时使
用
• It benefits from increasing marginal returns when initially deployed but
will evolve to have decreasing marginal return over time (Network
economic behaviour)
开始时会增加边缘收益，而随着时间的推移，反而会减少边缘收益。 (网络经济行为)
• It is difficult to protect or shield from external appropriation (Partial
excludability)
对外部挪用的现象难于防范 (部分不计算在内)
• It is surrounded by higher than normal levels of uncertainty
(Information asymmetry - Abnormal uncertainty)
被极高的不确定性所包围 (信息不对称性，即变态的不确定性)
• It is not easy to trade in newly developed or existing markets
(Information asymmetry - Limited tradability
在现有的和新开发的市场平台上不易交易 (信息不对称性 – 有限的可交易性)
CASE: the provision of survival enhancing CASE: the provision of survival enhancing
knowledgeknowledge
计算机辅助软件工程：计算机辅助软件工程：
适者生存法则下的知识繁荣适者生存法则下的知识繁荣
Established firms enjoy a relative advantage over the market when it comes
to the discovery of economically valuable knowledge due to:
已有立足之地的公司只有在其发现因下列因素产生的具有经济价值的知识后，才能
在市场上享有相对的优势：:
the superior ability of firms to communicate knowledge among organisational members
and as a consequence, to generate new knowledge
企业与组织会员进行沟通的卓越能力，并能因此产生新知识
the ability of firms to create incentives that encourage individuals who would otherwise
not do so to engage in the knowledge discovery and development process
企业创造鼓励个人发现知识并进行开发的机制的能力，而没有这种机制，人们是不会从事
相关工作的。
the co-specialised, personal, and tacit nature of knowledge, which precludes separating
out such knowledge for sale through the market mechanism
知识的共专性、个人性和隐性特征妨碍了它从整体中脱离出来，并通过市场机制进行销售
co-specialised knowledge only has value when combined with the tacit knowledge of
other individuals within the firm and therefore has reduced value outside the firm
since it is context dependent.
共专性知识只有与企业中他人的隐性知识结合起来才有价值，是因为它具有环境依赖
性，离开企业就会贬值。
The imperative to seek advantage through the
discovery of new knowledge is driven by之所以
如此紧迫地通过发现新知识来寻找优势，是因为:
a realisation on the part of employees that their peers in established and newly
formed enterprises are engaged in similar endeavours, and that the long run
health and survival of the firm - and hence their job security - is predicated upon
their ability to at least match, if not supersede, the improvements attained by
competitors. 企业员工们发现，那些无论在旧有的还是新成立的企业中工作的同行
们也在做同样的工作；他们意识到企业长期健康发展和生存的问题，也就是如何保
住现有工作的问题取决于他们是否能做出与竞争对手势均力敌的改进成果，即便这
种成果不具备压倒性优势。
rewards beyond enhanced job security often go to those individuals who are most
successful in initiating, sponsoring, or managing initiatives that improve the
competitive position of the firm. 除了增加职位的稳定系数外，那些能通过创造、资
助或管理新创意来增加企业的竞争地位的员工会得到更多的奖金。
There are few rewards and substantial costs involved in doing nothing and
continuing to manage the firm in the way it has always been managed.相比之下，
无所事事或使企业维持现状的人得不到什么奖励，而且还要不断消耗自我。
Each firm is characterised by a unique and continually evolving body
of knowledge that can be sub-divided into three main categories:
每个企业都有一个特殊的、不断发展的知识体系，这种体系可以划分为三个部分：
RESOURCE KNOWLEDGE 资源知识
Knowledge about the resources that the firm have at its disposal
关于企业可储备资源的知识
TRANSFORMATION KNOWLEDGE 转化知识
knowledge about the transformation of one type of resources into another
type of resources
将一种知识转化为另一种知识的知识
META KNOWLEDGE 元知识
knowledge about how to learn new knowledge
知道如何学习新知识的知识
knowledge about how to accumulate new knowledge
知道如何积累新知识的知识
knowledge about how to discover new knowledge
知道如何发现新知识的知识
Location of the firm’s knowledge
企业知识的所在
Much of the firm’s knowledge base resides in individuals and is tacit rather than
explicit in nature
企业的大部分知识库存在于员工的头脑里，其本质也是隐性而非显性的
Much of an individuals tacit knowledge is co-specialised with the tacit knowledge of
other individuals within the firm.
多数员工的隐性知识也是与其他员工的隐性知识共专的，并存在于企业内部。
Thus, it is only within the context of the firm that economic value of this co-specialised
tacit knowledge can be realised
因此，这种共专的隐性知识只有在企业的环境下才能实现其价值
Further, a firms knowledge base resides in its employees, but no single employee has
a complete grasp of this knowledge
进一步说，企业的知识库来源于员工，但又没有一个员工能够完全掌握这种知识
Knowledge discovery requires:
发现知识需要如下条件：
the existence of a well established and codified knowledge
base that is out there in the public domain for all to access
存在于公共环境中的、公认的编码化知识库，而且大家都可以接触
the existence of the individual’s own tacit personal knowledge
员工个人隐性知识的存在
the existence of firm-specific knowledge, including most
importantly that knowledge that can only be fully understood
by those who comprehend the shared vocabulary of a firm
企业专有知识的存在，最重要的是，它包括只有该企业内部人员才能
理解的共享词汇。
The organisational context of the firm help facilitate the
knowledge discovery process through:
企业的组织环境会推动知识发现的进程，原因如下：
Firm-specific vocabulary 企业专有词汇
the shared vocabulary oils the wheels of communication and increase the flow of
knowledge within the firm
共享词汇能让人与人的沟通提速，同时增加企业内部知识的流动
a shared vocabulary improves the quality of knowledge flows within the firm, as
opposed to just the quantity of flow
同时，共享词汇还会改善企业内部知识流动的质量，而不仅仅是它的数量
any increase in the quantity and quality of knowledge flows within the firm that are
made possible by the development of a firm-specific vocabulary will have a positive
impact upon the rate of discovery of new knowledge within the firm
通过开发企业专有词汇，从而提高企业内部知识流动的质与量，都会对发现企业内
部新知识的概率有所影响。
form a basis for economies of learning enjoyed by firms
形成经济性学习的基础，令企业享用
F ceteris paribus, firms have a tendency to get better at innovation over time
其余类同，不断找到更好的创意是企业的一个趋势
provides a transaction cost preventing the individual from appropriating higher
rents from the market then from the firm
提供交易费用，防止个人从市场上获取高于公司所提供数目的租金
and through: 其他原因：
Incentives that encourage individuals to engage in the difficult process
of knowledge discovery
鼓励员工发现新知识（这个过程会很艰难）的机制：
the firm can create an incentive structure that the market can not
企业可以提供市场无法提供的鼓励机制：
F most individuals are risk averse enough not to contemplate the entrepreneurial
route. This does not mean that they are less capable of discovering new
knowledge. For these individuals the firm can provide a mutually beneficial
incentive structure.
多数员工出于回避风险的考虑，而不去涉及企业路线问题，但这并不意味着他们
缺乏发现新知识的能力。对于这部分员工，企业可以采用互利性的鼓励机制
• the firms bear economic risk and associated costs of trying to realise profit
from the product and process innovations that flow out of the discovery of
knowledge
企业承担经济风险，以及实现产品利润的相关费用，同时利用新发现的知识
进行创新
• the responsibility of the individual for any failure may be reduced by such
initiatives typically being undertaken after collective consideration, so the
responsibility for failure is collective
通过采取这种措施，降低个人由于失败而需承担的责任，特别是经集体考虑
后，失败的责任可以由集体共同承担
其他原因：--续
the value system of firms also place a limit on the
personal
loss associated with failure
企业的价值系统会限制个人与失败相关的损失
positive rewards can enhance the propensity for
knowledge
discovery further (stock options, status, position ,etc.)
积极的奖励可以鼓励个人进一步的发现知识（员工分红、统
计、职位等）
限制企业发现新知识能力的因素限制企业发现新知识能力的因素
The advantage over the market is only a statistical average one
从统计学角度来看，市场优势只是一个普遍现象。
Diseconomies of size 规模管理失调
With size non-trivial communications problems begin to arise. Congestion and
information overload may limit the effectiveness of the knowledge discovery process.
这一现象的出现，往往是由大的沟通方面的问题引起的。负担过重或信息超载都会限制
发现新知识这一过程的效能。
With size inertia increase
企业体积随着惯性不断扩大，这一问题也会凸现出来
限制企业发现新知识能力的因素限制企业发现新知识能力的因素
Diseconomies of age 寿命管理失调
With age inertia increase 随企业寿命的惯性增长而出现
Myopic interest protection by internal bureaucracy
企业内部官僚主义导致的利益保护这种缺乏远见的行为
The visible hand of management has to be better at allocating resources than
the invisible hand of the market
应该运用无形的管理手段，而不是无形的市场手段，更好的分配资源
Firms have, on average, an advantage over the market in when it comes to
knowledge discovery 一般来说，企业能够发现新知识时，就已经在市场上具有优势了
Markets have, on average, an advantage over the firm when it comes to allocating
capital resources between the resulting investment alternatives
一般来说，当市场拥有对最终投资选择的资本资源进行分配的能力时，企业就失去了
优势
If a mismatch exists between the pairs…
配对错误会怎么样？
Vision 洞察力
Strategy 战略
Values 价值
Objectives 目标
Compensation 补偿
Measures 措施
Strategy 战略
Structure 结构
Management 管理
Compensation 补偿
Measures 措施
Systems 系统
The items on the right will win every time!
右侧的条目才是百战百胜的法宝！
