Consistency in your Brand Values - a key factor affecting Goodwill
In January 2015 McLaren (the Formula 1 racing team originating from legendary NZ racing driver Bruce McLaren) announced that it was going to become McLaren Technology.
While motor-racing remains at the core of what McLaren does, it notes that its expertise is such that three quarters of its 3,000 employees are now working on technologies other than directly related to motor sport. McLaren Applied Technologies licences its analytical software to multinationals and businesses not involved in motor racing.
see article
This is a great example of a company being aware not only of its Intellectual Property, but also its Intellectual Assets. They were able to realise that their expertise, stemming from motor racing, was also applicable in other areas. Knowing the extent of this expertise enabled them to exploit it in total different fields - and to the extent that they have changed their name to reflect this.
It is not unusual for businesses to focus more on financial and management issues. These traditionally do not include a review of Intellectual Capital - it is not yet standard practice. All businesses can benefit from a more entrepreneurial approach to identify new opportunities based on the resources they have - large or small, most businesses possess resources they are not fully using and which could be making them money.
In January 2015 McLaren (the Formula 1 racing team originating from legendary NZ racing driver Bruce McLaren) announced that it was going to become McLaren Technology.
While motor-racing remains at the core of what McLaren does, it notes that its expertise is such that three quarters of its 3,000 employees are now working on technologies other than directly related to motor sport. McLaren Applied Technologies licences its analytical software to multinationals and businesses not involved in motor racing.
see article
This is a great example of a company being aware not only of its Intellectual Property, but also its Intellectual Assets. They were able to realise that their expertise, stemming from motor racing, was also applicable in other areas. Knowing the extent of this expertise enabled them to exploit it in total different fields - and to the extent that they have changed their name to reflect this.
It is not unusual for businesses to focus more on financial and management issues. These traditionally do not include a review of Intellectual Capital - it is not yet standard practice. All businesses can benefit from a more entrepreneurial approach to identify new opportunities based on the resources they have - large or small, most businesses possess resources they are not fully using and which could be making them money.
