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Business School of Accounting ACCT 5920 MANAGING INTANGIBLE RESOURCES Course Outline Semester 1, 2015 Part A: CourseSpecific Information Part B: Key Policies, Student Responsibilities and Support

How to fill out managing intangible resources

How to Fill Out Managing Intangible Resources:

1. Identify the intangible resources: Start by determining what intangible resources your organization possesses. This could include intellectual property, brand reputation, customer relationships, employee skills, and knowledge.
2. Assess the value of each resource: Evaluate the importance and worth of each intangible resource. Consider factors such as its contribution to competitive advantage, revenue generation potential, and impact on overall business performance.
3. Develop a strategy: Based on the assessment, create a strategy for managing each intangible resource. Determine how to protect, enhance, and leverage these resources to benefit the organization. This may involve investing in research and development, copyright or trademark protection, employee training programs, or strategic partnerships.
4. Assign responsibility: Clearly define who will be responsible for managing each intangible resource. Designate individuals or teams who will oversee the protection, development, and utilization of each resource. Provide them with the necessary authority, resources, and support to effectively manage these assets.
5. Implement monitoring mechanisms: Put in place systems to monitor the performance and effectiveness of your intangible resource management efforts. Regularly assess the status of each resource, track progress, and measure outcomes to ensure that your strategy is delivering the desired results.

Who Needs Managing Intangible Resources?

1. Startups and small businesses: Managing intangible resources is crucial for startups and small businesses, as they often heavily rely on their unique ideas, brand recognition, and customer relationships to gain a competitive edge and establish themselves in the market.
2. Established organizations: Even larger, more established companies need to manage intangible resources to maintain their competitive position. This includes effectively leveraging intellectual property, brand equity, and customer loyalty, among other intangible assets.
3. Knowledge-based industries: Industries that heavily rely on knowledge, innovation, and expertise, such as technology, pharmaceuticals, and consulting, need robust strategies for managing their intangible resources. These industries often generate significant value from intangibles like patents, trade secrets, and highly skilled workers.

Overall, managing intangible resources is essential for any organization, regardless of its size or industry. By identifying, valuing, and strategically managing these resources, companies can maximize their value, protect themselves from competitors, and drive sustainable growth.

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What is managing intangible resources?

Managing intangible resources involves identifying, valuing, and strategically utilizing assets such as intellectual property, brand reputation, and customer relationships.

Who is required to file managing intangible resources?

Companies and organizations that possess intangible assets are required to file managing intangible resources.

How to fill out managing intangible resources?

Managing intangible resources can be filled out by providing detailed information on the company's intangible assets, their valuation, and how they are being utilized.

What is the purpose of managing intangible resources?

The purpose of managing intangible resources is to maximize the value of the company's intangible assets and make informed strategic decisions.

What information must be reported on managing intangible resources?

Information such as the types of intangible assets, their valuation methods, and how they contribute to the overall value of the company must be reported on managing intangible resources.