Glossary:
50. Organisational Capital
| Term | Definition |
|---|---|
Digital transformation | The integration of digital technology into all aspects of an organisation, resulting in fundamental changes to how it operates and delivers value to customers. |
Human Capital | Human capital is the human resource capital of an organisation, made up of its culture, its values and the combination of competences, skills, creativity, innovation and relationship capacity of its employees. |
Innovation | The implementation of a new or significantly improved product (good or service), or process, a new marketing method, or a new organisational method in business practices, workplace organisation, or external relations. |
Intangible Assets | An intangible asset is an asset that lacks physical substance, with non-monetary nature (e.g. are ideas, patents, copyright, goodwill, trademarks, etc). |
Intellectual capital | Intellectual capital encompasses all forms of intangibles and is the combination of an organisation's human, structural, and relational resources of an organisation (customer capital). |
Organisational Capital | Organisational capital is one of the three components of structural capital, itself a component of intellectual capital, it is the value that an organisation derives from its processes and organisational philosophy, which capitalise on the organisation's capacity to provide goods and services. Organisational Capital is divided into process capital and innovation capital (the company's capacity for renewal). |
Organisational Change management | Organisational change management is the process of guiding organisational change to a successful outcome, in which the actions an organisation take alter processes (e.g. Technological, structural) and it typically consists of three major phases: preparation, implementation, and follow-through. |
Relational Capital | Relational capital is one of the components of intellectual capital. It is an intangible asset formed by the network of relationships a business has with its stakeholders, including customers, suppliers, employees, and shareholders, which are built over time through trust, mutual respect, and shared values. |
Resilience | A resilient organization, such as a chameleon, need to adapt itself to the adverse context in which it must survive, continuously monitoring the risks and reinventing its business and mission. |
Sustainability | The ability to meet the needs of the present without compromising the ability of future generations to meet their own needs. |
