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Measuring and Accounting Intellectual Capital. Explanation of MAGIC.



What is MAGIC? Description

MAGIC (Measuring and Accounting Intellectual Capital) is a European research and development project partly funded by the European Commission. The goal of the project was to develop a methodology and measurement system for Intellectual Capital.

These results of the project include: a practical methodology to measure intellectual capital, and a software system to support the implementation of a measurement system for intangible assets.

Some 40 European companies including Siemens AG and Volkswagen from Germany and Sonera from Finland have participated in the project's Business Interest Group to test and give feedback on the methodology and software technology.

Four categories of Intellectual Capital:

  1. Human Capital. Comprises all the skills, expertise and competencies of the company to react on market demands and customer needs including leadership and management issues and capabilities.
  2. Organizational Capital. Comprises the capabilities of a company, its infrastructure and organizational processes to create products and services for the market.
  3. Market Capital. Represents the capabilities of a company to interact with the external interface like the customer, partners, and suppliers and other stakeholders.
  4. Innovation Capital. Refers to a company's ability to innovate , improve and develop unutilized potential as well as generate long-term wealth.

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Compare with: Organizational Learning  |  IC Rating  |  Balanced Scorecard  |  Intangible Assets Monitor  |  Organizational Memory  |  Knowledge Management (Collison & Parcell)

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