The Value of Intangible Benefits
[WLOs: 1, 2] [CLO: 4]
Prior to beginning work on this assignment,
- Read the weekly lecture.
- Read Chapter 9 of Shift Ahead: How the Best Companies Stay Relevant in a Fast-Changing World.
- Review the DargeanGrix Business Scenario Download DargeanGrix Business Scenariodocument.
- Read the article: The Hidden Value in Your Intangible Assets (Links to an external site.).https://sfmagazine.com/post-entry/january-2016-the…
- Review the following: 5 Powerful Ways to Confront Change in the Workplace (Links to an external site.), ‘Niceness’ Can Hurt an Organization (Links to an external site.), 8 Ways to Manage Change in the Workplace Effectively (Links to an external site.), Intangible Benefits Can Play Key Role in Business Case (Links to an external site.), What Are the Tangible and Intangible Benefits of ERP System? (Links to an external site.), and What Are Intangible Benefits? (Links to an external site.)
In this assignment, you will construct a justification for the purchase or outsourcing of the technology you would recommend as the solution to the video communication problem described in your Week 3 What It Takes to Be a Champion of Change Video Presentation discussion. Conduct an internet search using the key-word phrase “video conferencing solutions” to identify a solution that might fit the company’s needs.
NOTE: The chosen technology is only a framework and isn’t as important as your justifications using the intangibles you identified in your Week 2 What are Intangibles Worth? discussion, Current Intangible Business Costs assignment, and from reviewing the An Intangible Example Download An Intangible Exampledocument recommended resource.
Using the elements you identified in the DaregeanGrix scenario in Week 2 for justification,
- Build a table with approximate costs associated with each of the elements in the company’s current environment.
- Some of these should be actual (tangible) costs and some should be implied (intangible) costs (e.g., customer satisfaction, employee satisfaction, efficiency, etc.).
- Weigh the tangible costs and the intangible improvements that the new technology will bring to the organization using a narrative format and contextual reasoning.
- Create a justification for the solution using the intangible elements the solution will provide.
- Explain how these elements have a significant impact on the organization, employees, and customers.
Remember that your goal is to be able to justify a possible investment using intangible benefits in a new technology in which there is little in the way of traditional return on investment (ROI) to lean on.