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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.

MAGIC Forum (3) Register  |  Log in  |  Help Rationalization of Knowledge and Expertise in Mental Health Care Provision "Canada invests millions into mental health care but little work has been done to evaluate the expertise of care provides and ways to optimize this capital. I assume that there great experiences in other fields where interventions are more precisely defined in the evaluation and validation of this capital. Experience and knowledge are more transferable across sectors than usually assumed. I would appreciate input from other participants in this forum regarding programs, experiences or general concepts in the area that would allow me to get this initiative going in my area of interest." Add Reputational Capital to MAGIC "We must add "reputational capital" to this list (esp. after recent scams in US markets and sports celebrities)." Intellectual Capital : MAGIC "Hello, I'm a student from the University in Brussels and I'm working on a paper on intellectual capital. I find the MAGIC project very interesting but I can't find any information on this project... Is there somebody who has the results of this project? I also need to know who typed the description of this project on 12manage because I'm gonna use part of it in my paper. Also a date of the publication on the site is needed to refer correctly." New topic  |  Join our management network

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