Technological Capital Management as an Instrument of Industrial Enterprise Innovative Development

Transcription

1 Inernaional Conference on Compeiive Manufacuring Technological Capial Managemen as an Insrumen of Indusrial Enerprise Innovaive Developmen S. N. Grigoriev, J. Y. Yeleneva 2, V. N. Andreev 2 Deparmen of High-effecive Machining Technologies, Moscow Sae Technological Universiy STANKIN, Russian Federaion 2 Deparmen of Financial managemen, Moscow Sae Technological Universiy STANKIN, Russian Federaion Absrac Innovaive enerprise developmen, is efficiency measuremen and increased simulaion is a vially imporan domain of sudy boh for academics and business praciioners. The aricle inroduces he erm of «echnological capial» of an enerprise, which includes boh angible and inangible componens. The aricle offers a new approach owards selecing he crierion of he innovaive enerprise developmen level, which involves he aggregaed value of echnological capial growh, based on he advancing growh of inangible asses. In order o gain beer undersanding of echnological capial managemen, is main elemens and srucure are defined, and he pracical mehods of echnological capial inegral pars valuaion are represened wihin he advancing inangible asses value growh framework. Keywords Innovaive enerprise developmen, Enerprise inellecual capial, Enerprise echnological capial INTRODUCTION The soluion of he Russian economy modernizaion problem, whose opicaliy is coninuously underlined a he summi sae level, is impossible wihou reconsideraion of fundamenal approaches o he principal modernizaion driver resrucuring of echnological processes. A he same ime modernizaion issue is rarely considered in he process focus; he observed governmenal and business measures in he field of modernizaion are ypically indusrial by heir naure. However nowadays here is no doub ha, while indusrial sage of economy developmen implies counry compeiiveness due o increased efficiency of cerain producion facors, in pos-indusrial economy he key par is assigned o he esablishmen and sysemaic developmen of an environmen encouraging generaion and inegraion of innovaion. From he poin of view of pos-indusrial approaches he mos imporan poin is no in he echnical upgrading and developmen of personnel compeence as such, bu in he process improvemen of business and, narrower, producion cycle, based on he modern approaches o he managemen of inangible asses, forming he enerprise fundamenal value. The necessiy o define he caegory comprising he idenified aggregae of angible and inangible componens of he producion process, influencing he enerprise compeiiveness and value, brings o he idea of considering he echnological capial as he main objec of modernizaion policy. One of he reasons for low performance of he modern innovaive policy in Russia is he ambiguiy of objecives and, consequenly, evaluaion of enerprises innovaive developmen resuls as a whole and machine building enerprises in paricular. I is obvious ha amoun of funds (or growh of ha amoun), appropriaed by enerprises for echnical upgrading and modernizaion, as well as for produc compeiive growh in local (regional) markes may no be he crieria of innovaive developmen of enerprises. Only he growh of echnological capial as a resul of he enerprise innovaive aciviy may be considered as he crierion of innovaive developmen. This paper reviews relevan lieraure and defines heories which may be acceped as a basis for he esablished caegory of echnological capial. Based on suggesed caegory, including angible and inangible componens, i jusifies he selecion of he enerprise innovaive developmen crierion, which implies he growh of he echnological capial oal value on condiion of ourunning growh of he inangible componen value. The presen aricle also specifies acions making i possible o achieve he above. 2 LITERATURE REVIEW I is obvious oday for many scieniss and praciioners from differen counries ha ransiion of economy ino innovaive sage of developmen is an obligaory condiion of economic growh and prosperiy. The fac is confirmed by a rapid increase of research, boh highly heoreic as well as purely applied in heir naure, devoed o differen aspecs of innovaion managemen, muual influence and dependence of innovaive aciviy and compeiiveness of enerprises, managemen of

2 inangible asses and inellecual capial of enerprises as he resuls of innovaive aciviy. In he conex of lieraure sources, firs of all i is necessary o deermine he meaning of innovaion. In a general sense innovaion is undersood as purposeful change which inroduces in he inegraion environmen (enerprise, company ec.) new, relaively sable elemens []. The researchers [2] consider he following crieria of enerprise innovaive developmen efficiency evaluaion: efficiency of coss for echnological innovaions (relaion of he sold innovaive producs volume and he amoun of coss for innovaions); inensiy of coss for echnological innovaions (specific weigh of coss for innovaions in he oal volume of he shipped producs, performed works and services); specific weigh of innovaive producs, works, services in he volume of shipped producs, performed works and services; specific weigh of innovaive producs, works, services new for he marke in he volume of innovaive producs, works and services. I should be noed ha provided indices are mainly of qualiaive naure and do no fully characerize he innovaive developmen efficiency. In his regard he qualiaive crierion (ourunning growh of he echnological capial inangible componen value) suggesed herein will resricedly supplemen he exising crierion base. The whole se of lieraure sources describes he connecion of innovaions wih he enerprise compeiiveness [3], [4]. In paricular, Michael Porer in his fundamenal work [3] poins ou: he naure and evoluion of all successful companies is basically similar. The company gains compeiive advanages by means of innovaions. They sui he novelies in he wides sense using boh new echnologies and new mehods of work. In anoher work [4] Porer describes how echnological innovaions give rise o he enerprise compeiive advanages. The acquired or own echnologies influence and modify he key facors of coss reducion and differeniaion (influence of he scale effec, posiive inerrelaions beween business unis, firs-mover advanage ec.). In addiion he echnologies, direcly influencing he coss reducion and differeniaion, creae he enerprise compeiive advanages. Many works are devoed o differen aspecs of managemen of inangible asses and inellecual capial as embodimen of innovaions. Thus, he quesions concerning deerminaion of differen ypes of inangible asses value and inellecual propery are considered in scienific works [5], [6]. Differen aspecs of he subsequen inellecualizaion of indusrial producion problem are described in scienific works of researchers [7], [8]. The issues of inellecual capial are considered in works [9], [0]. Technological capial as he analysis and conrol objec is considered in he following works [], [2]. For example, he auhor [2] undersands echnological capial as a oal of economic relaions originaing beween he subjecs in he course of creaion and applicaion of echnology as a combinaory resource implemening capial funcions in pos-indusrial economy. The analysis of he above-menioned and oher lieraure sources proves ha some issues of grounded selecion of evaluaion crieria for innovaive developmen efficiency, inerrelaion of problems concerning managemen of pricing angible and inangible facors of echnological naure and enerprise compeiiveness assurance, remain insufficienly elaboraed. In his regard he presen work and obained resuls are opical from boh scienific and pracical poin of view. 3 METHODOLOGY Selecion of basic heories by developmen of echnological capial caegory is based on he following key provisions: one of he leading heories, describing inangible asses, including hose conneced wih producion and producion managemen, is he heory of inellecual capial; echnological capial managemen is he facor of enerprise value formaion, echnological capial is he enerprise asse; nowadays here is a ransiion o he business model, providing for cooperaion wih exernal sources of new ideas and echnologies. Regarding he above he formaion of echnological capial caegory seems reasonable on he basis of he inellecual capial heory, value approach o managemen as well as open innovaions model. 3. Inellecual capial heory The basis for many approaches o managemen of inangible asses is he inellecual capial heory [9], [0]. Inellecual capial consiss of he reserves and movemen of knowledge useful for he enerprise. The knowledge can be considered as inangible resource, which ogeher wih angible resources makes up marke or oal value of he enerprise. Inellecual capial is subdivided ino human, marke and srucural. The srucural capial includes innovaive and process capials. The inerconnecion of non-maerial elemens of echnological capial and componens of inellecual capial is represened in figure. The highlighing in he inellecual capial srucure of he componens forming echnological capial nonmaerial asses (knowledge and business-processes including) conneced wih producion proper and i s managemen, is caused by specific asks accomplished while managing hese asses, and special insrumens and mehods of managemen,

3 used during he work being performed on hem. I is also of necessiy o noe ha conemporary indusrial enerprises modernizaion firs of all deals wih his paricular ype of non-maerial asses. work wih exernal sources of knowledge and echnologies, as well as efficien use of such knowledge boh inside he enerprise and in he course of close cooperaion wih hird-pary organizaions, he basic provisions of open innovaions model shall be applied in his case. Figure - Relaionship beween inellecual and echnological capial. 3.2 Value based approach o managemen (value based managemen) Value based managemen (VBM) is aimed a qualiaive improvemen of sraegic and operaional decisions a all levels of he enerprise due o concenraion of effors of all persons, making decisions, on key value facors. Technological capial managemen as one of he key facors of enerprise value formaion shall be carried ou wihin he frameworks of value ideology, based on is rules, approaches and principles. Only in his case one can increase aciviy efficiency and enerprise value and, consequenly, is compeiiveness. 3.3 Open innovaions model In condiions of consanly increasing marke compeiion beween mulinaional corporaions a new business model is gradually moving o he forefron open innovaions model. I is based on exensive applicaion of exernal sources of new echnologies and know-how, as well as creaion of mulilevel research collaboraions. As far as managemen of echnological capial inangible componen assumes sysemaic search for and 4 BASIC IDEAS Today he problem of improvemen of enerprise innovaive aciviy qualiy, efficiency of producion sysem, assurance of compeiiveness in he marke is especially acue. All ha requires one o define and consider in deails he echnological capial caegory. However before examining his specific caegory i is necessary o give a definiion o is conen echnology. Wihin he frame of his paricular work i is defined as a combinaion of means, processes, operaions, and mehods, wih he help of which producion inpus are ransformed ino is oupus. This echnology encompasses machines, mechanisms and ools, skills and knowledge. I is necessary o noe ha during he inensificaion of he process of he formaion of new innovaive economy echnology becomes a facor increasingly defining economic growh, acquiring he form of echnological capial. Technological capial () of he enerprise is undersood as he oal of wo componens: angible componen, including acive par of he enerprise basic producion asses (BPA) and inangible componen, comprising inangible asses (IA) conneced wih manufacuring of producs and producion managemen. When defining he crierion one shall ake ino accoun ha in presen condiions, a he ime of ransiion o economy of knowledge, he objecs, consiuing inangible componen, are becoming more imporan and exer greaer influence on he innovaive aciviy efficiency. Wihin his work inangible componen is considered as conrol objec. A he same ime he growh of value shall be analyzed boh from he poin of view of oal growh and growh of is inangible componen. Thus he necessary condiion of echnological capial efficien managemen is he compliance wih he following equaion: { } max, () where, + enerprise value a he poin of ime +; enerprise value a he poin of ime. As menioned before, enerprise consiss of he acive par of basic producion asses and IA, conneced wih producion and producion managemen. In formalized form in can be presened as follows: FA IA, (2)

4 where FA value of acive par of basic producion asses (BPA) a he poin of ime ; IA IA value, conneced wih producion and producion managemen, a ime. For convenience of subsequen calculaions le s divide boh pars of equaion by : FA IA (3) For he purpose of srucure opimizaion i is imporan o monior he value growh qualiy. In his paper value growh qualiy is esimaed based on increase of IA conribuion ino value growh, bu no on increase of BPA acive par conribuion. The growh of share of BPA acive par and IA value wihin value can be expressed in he following raios: FA where FA FA FA FA (4) ; IA IA IA, (5) IA - growh share due o BPA acive par, IA - growh share due o IA. Consequenly a sufficien condiion of efficien managemen is he compliance wih he following IA provision growh of IA conribuion ( ) in value growh shall exceed he growh of BPA acive par conribuion ( FA ): IA FA > (6) Thus o make enerprise innovaive developmen efficien one shall observe he necessary and sufficien provisions, expressed by he following equaion: { } max IA FA (7) To oupace he growh of inangible componen value he enerprise should perform efficien managemen of inangible asses, conneced wih producion and producion managemen ( IA). In paricular one shall define he objecives and asks of IA managemen, on which basis he key managemen funcions can be implemened. The objecive of IA managemen is he creaion of sable compeiive advanages based on esablishmen of coninuously developing enerprise capable of generaing new knowledge abou producion processes and producion managemen and ransferring hem in echnologies and producs. IA managemen process provides for soluion of he following asks: creaion of IA new objecs, invenory, sysemaizaion, evaluaion, selecion of legal proecion regime and use of exising objecs (figure 2). The qualiy of IA managemen is deermined by he efficiency of each ask soluion. Hereafer he conen of each ask wihin IA managemen process is considered in deails. Figure 2 - Key asks of inangible asses managemen ( IA). Invenory/deecion. By soluion of his ask: Invenory/deecion of IA objecs Creaion/acquisiion of IA objecs Sysemaizaion of IA objecs Use of IA objecs Evaluaion of IA objecs Proecion of IA objecs one deecs he idenifiable resuls of inellecual aciviy ( IA objecs), o which he enerprise has of may obain exclusive righs and which may be proeced by means of differen regimes of legal proecion; one deermines he degree of objec readiness for use; one deermines he possibiliy or impossibiliy o ener he deeced and idenified IA objec in he books of balance as inangible asse according o curren regulaory acs; one deermines he pracicabiliy of creaion or acquisiion of IA objecs, required for enerprise successful developmen. Soluion of he ask is governed by he enerprise developmen sraegy, is economic, scienific and echnological poenial, marke siuaion and oher condiions. Creaion/acquisiion. IA objecs can be creaed boh using enerprise s own resources and by means of hird-pary organizaions involvemen. Acquisiion by he enerprise of IA objecs creaed by oher organizaions is carried ou on he bases of alienaion conracs or license agreemens. For creaion/acquisiion of IA objecs one can make good use of all forms and pracices of open innovaions. Sysemaizaion. Deeced and idenified inellecual aciviy resuls, as well as purposefully creaed or acquired IA objecs require sysemaizaion. The goal of sysemaizaion is he disribuion of new knowledge among specified accouning records and inegraion in exising daa bases.

5 Evaluaion. By soluion of he ask: one deermines he goal and subjec of evaluaion; one collecs and analyses he iniial informaion abou IA objec under evaluaion; one selecs an evaluaion approach, jusifies he selecion of corresponding approach and deermines specific evaluaion mehod wihin he frameworks of seleced approach; one performs calculaions and consolidaes he evaluaion resuls. Proecion. By soluion of he ask: one confirms he legal validiy of holding he righ o idenified IA objec; one selecs he legal proecion regime based on analysis of economic feasibiliy of his or ha regime applicaion; one specifies IA objecs and heir disincive feaures, subjec o obligaory proecion in commercial secre regime; one develops measures, implemens procedures according o seleced legal proecion regime. Use. When selecing he varian of specific IA objec use four major direcions are disinguished:. Exclusion of IA objec from he lis of enerprise inangible asses. 2. Use of IA objec in enerprise economic aciviy (as he objec proeced by paen righ, copyrigh, in commercial secre regime ec.). 3. Complee cession of all righs o IA objec under he conrac of alienaion of exclusive righs o invenion, useful model, indusrial sample ec. 4. Transfer of righs o IA objec on he basis of license agreemens. A he same ime here is he possibiliy of simulaneous implemenaion of he second and fourh sraegy in case of use of nonexclusive licenses. When selecing his or ha varian of IA objec use (he varians can also be realized wih he help of open innovaions model) one shall evaluae longerm economic consequences of he made decision. The evaluaion is o be carried ou on he basis of indices of economic efficiency of invesmens, appropriaely discouned. Soluion of he above-menioned asks forms he basis of efficien managemen of inangible asses, conneced wih producion and producion managemen, being a par of enerprise echnological capial, ensuring growh of is value and srucure opimizaion on accoun of inangible componen. Considering wide-spread occurrence of IA objecs in enerprises, i is necessary o classify hem as conrol objecs. To prepare he classificaion i is reasonable o apply he basic principles used o characerize inangible asses [5], [6].In addiion he above classificaion shall ake ino accoun he life cycle sage, a which IA objec is used, and ype of aciviy for which i is used, and also he ype of sraegy o provide compeiiveness, affeced by IA [4]. Thus using he experience of exising heoreical pracice le s presen he suggesed classificaion of inangible componens of enerprise (figure 3). Figure 3 - Classificaion of inangible componens of enerprise echnological capial.

6 Le us examine in deail some of he classificaion aribues wih he examples of objec disribuion IA according o hese aribues. Per possibiliy o ener in books of balance IA objecs may represen objecs, enered on he balance shee as inangible asses (e. g. invenion, compuer program ec.), or non-balance shee iems (processing, measuremen procedures, operaing insrucions ec.). Per separabiliy from enerprise IA objecs can be non-separable from he enerprise, e.g. sysems and mehods of producion managemen, developed as a consiuen par of he enerprise ec., and separable from he enerprise, e. g. invenions, compuer programs, objecs represening producion secres ec. Per separabiliy from individual IA objecs can be non-separable from individual, e. g. personal professional qualiies of individuals, including paricular knowledge and experience ec. and separable from individual, e. g. echnical libraries, processing, measuremen mehods ec. The provided classificaion can ensure exensive use of he erm echnological capial inangible componens wih regard o objecs, which unil now are no clearly assigned o his or ha caegory or classificaion. 5 CONCLUSION The echnological capial caegory suggesed in his paper can be considered as a represenaive crierion of he enerprise innovaive developmen. Furhermore, he described approaches o he managemen of echnological capial inangible componens make i possible o opimize is srucure and increase is value. In view of he fac ha oday he oal value of new echnologies developed around he world amouns o 60% of he oal global social produc, and he rade growh rae exceeds he sales growh rae for oher producs, idenificaion of his asse in form of echnological capial inangible componen seems imely and holds poenial. I is obvious ha in such areas of aciviies as inellecual propery commercializaion and ransfer here is a significan poenial for enerprise developmen and compeiive growh, so he echnological capial concep will by all means be developing in fuure. 6 REFERENCES [] Prigozhin, A.I., 2003, Mehods of enerprise developmen, М.: MCFER, 864 p. [2] Gohberg, L.M., Kuznesova, I.A., 2009, Innovaions in Russian economy: sagnaion ahead of crisis?, Foresigh magazine, v. 3, No. 2 (0), P [3] Porer, M., 2003, Compeiion, Trans. from English, М.: Williams Publishing House, 496p. [4] Porer, М., 2005, Compeiive advanage: How o achieve good resul and ensure is sabiliy, М.: Publishing House Alpina Business Books, 75 p. [5] Smih, G.V., Parr, R.L., 2000, Valuaion of Inellecual Propery and Inangible Asses, 3rd Ediion, John Willey & Sons, Inc, 638 p. [6] Reilly, R., Schweihs, R., 2005, Valuing inangible asses, Trans. from English by ROID ranslaion agency, М.: PH Kwino-Consuling, 792 p. [7] Bromberg, G.V., 2004, Inellecual propery. Basic Course: Sudy guide, М.:Prior-izda,464p. [8] Grigoriev, S.N., Teleshevskii, V.I., 20, Measuremen problems in echnological shaping processes, Measuremen echniques, Vol. 54(7), P [9] Sewar, T.A., 997, Inellecual Capial. The New Wealh of Organizaions, New York: Currency Doubleday, p. 67. [0] Edvinsson, L., 2000, Some perspecives on inangibles and inellecual capial, Journal of Inellecual Capial, Vol., Number, pp.2-6. [] McGraan, E.R., Presco, E.C., 2009, Openness, Technology Capial, and Developmen, Journal of Economic Theory, 44(6): [2] Ivanova, E.V., 2008, Technological capial heory and pracice of evoluionary changes, monography,м.:mgsupublishing House,286 p. 7 BIOGRAPHY Sergei N. Grigoriev is he recor of Moscow Sae Technological Universiy (MSTU) STANKIN. He holds a degree of Docor of Technical Sciences. His specific focus and area of research ineres is he developmen, design and opimizaion of high efficiency cuing ools and echnologies. Julia Y. Yeleneva is he vice-recor and heads of he Financial Managemen Deparmen a MSTU STANKIN. She holds a degree of Docor of Economic Sciences. Her specific focus and area of research ineres are value based managemen, compeiive managemen and innovaion managemen. Vladimir N. Andreev holds a PhD degree in Economic Science from he MSTU STANKIN. His specific focus and area of research ineres are inellecual capial managemen and applicaion of inangible asses, relaed o producion and producion managemen.