For information or to order copies of
Power of Innovation
please contact Skandia,
Market Communications
tel: +46-8-788 10 00
fax: +46-8-788 26 85
Internet: IC@afs.skandia.se
http://www.skandia.se
For the past five years Skandia has been describing its work surrounding intellectual capital in supplements to the group's financial reports. The components which make up intellectual capital, including innovation capital, were presented in the supplement to the 1995 Annual Report.
Innovation capital refers to the explicit, packaged result of innovation, in the form of protected commercial rights, intellectual property, and other intangible assets and values. Harnessing this power of innovation requires a more dynamic perspective and a synchronized focus on human and structural capital for renewal. Thus the power of innovation is found in the border zone between human capital and structural capital.
The goal is to achieve a multiplicative effect in order to enhance rapid knowledge sharing and develop new business applications. In doing so, new value is created. The critical success factor is not only the number of new ideas, but more so, their implementation. This can be facilitated by having the right company culture, leadership and infrastructure.
A company's strategies for growth, competence development and competence renewal can bear great significance for its future value. The power of innovation creates value in that innovation capital is either recycled or generated anew.
"Knowledge innovation is the creation, evolution, exchange and application of new ideas into marketable goods and services, leading to the success of an enterprise, the vitality of a nation's economy and the advancement of society."--Debra M. Amidon
Debra M. Amidon's book, Innovation Strategies for the Knowledge Economy: The Ken Awakening explain the principles of knowledge innovation. ENTOVATION's Knowledge Innovation® Assessment is a way of assessing your innovation capabilities and developing improved innovation strategies.
