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Präsentation zum Thema: "Bengin 1 © 2002 bengin.com Mapping values bengin expanding_value_paradigm_v1plus_e."—  Präsentation transkript:

1 bengin 1 © 2002 bengin.com Mapping values bengin expanding_value_paradigm_v1plus_e

2 bengin © 2002 bengin.com Mapping values Expanding value paradigm (in a hurry) Peter Bretscher 6. November 2002

3 bengin 3 © 2002 bengin.com Mapping values Applications Outlook Applications Outlook 3. Objects Measures Values Maps Objects Measures Values Maps 1. Relative and absolute Value maps 2. Agenda

4 bengin 4 © 2002 bengin.com Mapping values Metrics Objects – Measures – Values – Maps Measures Black Box Key Figures 1. Absolute [, $, CHF] 2. Absolute [, $, CHF] 3....... nrelative Object Nature: tangible, intangible 1 D ….. n D 3 D Color Theory Coordinates: RGB 2 D Force & Direction Coordinates

5 bengin 5 © 2002 bengin.com Mapping values b) absolute Vector, Ortskurvea) relative Vector, Vector profile V1V1 V2V2 V3V3 V4V4 Relative and absolute Value maps V2V2 V1V1 V3V3 V4V4 c) Shareholders Valuationd) Value Quadrants REV (Real Enterprise Value) SPE (Shareholders Profit Expectation) mV [$] iV [i$] REV + SPE = TEV TEV = Total Enterprise Value = Shareholder Value mV [$] iV [i$] Value Track Q II Value Generation Q III Transfor- mation (I to M) Q IV Value Degenera- tion Q I Transfor- mation (M to I) + M + I - M - I R&D mV iV Structure cost price $ %

6 bengin 6 © 2002 bengin.com Mapping values Applications, Outlook Value Vector Explicit Values Implicit Values 96 97 98 99 Stock Exchange Value 199019911992199319941995199619971998 1999 96 97 98 99 Value points of 75 enterprises explicit Values implicit Values Where to be used For complex valuation and controlling purposes. Better valuations. Corporate governance, Project controlling, Benchmarks, M&A, Nonfinancial audit..... Outlook Focus more on techniques (as a product) than on technology. Standards for mapping tangible and intangible resources: a) structuring means b) quantifying means. The intellectual property.

7 bengin 7 © 2002 bengin.com Mapping values Thank you bengin.com

8 bengin © 2002 bengin.com Mapping values Zusatzfolien 1

9 bengin © 2002 bengin.com Mapping values Theory

10 bengin 10 © 2002 bengin.com Mapping values Economy and mapping (navigation tools) 1294 Pacoli 2002 Gates 2710 Pacoli 1782 Göldin 1776 Smith

11 bengin 11 © 2002 bengin.com Mapping values Real economy Solutions (Form & Content) MindWare SoftWare Hardware Applikationsn Operating System Applications Econ. Theory Basics New MindWare & SoftWare quantum leap in the simulation and planning of todays economy.

12 bengin 12 © 2002 bengin.com Mapping values The rainbow depends on point of view - is subjective

13 bengin 13 © 2002 bengin.com Mapping values How yellow is orange?

14 bengin 14 © 2002 bengin.com Mapping values Color measures

15 bengin 15 © 2002 bengin.com Mapping values Identity & Strategy Value Management b)quantifyinga)structuring Innovation- management Information- management bengin Solutions ©....... new maps Economy... Resource- management Finance Intangibles Risk Options Reality of Business has changed – models have to be….

16 bengin © 2002 bengin.com Mapping values 1D - 2D (Vektoren)

17 bengin 17 © 2002 bengin.com Mapping values BALANCE SHEET ASSETS (000'S) FISCAL YEAR ENDING 12/31/1999 12/31/1998 12/31/1997 12/31/1996 12/31/1995 12/31/1994 CASH & EQUIVALENTS253572289570308725362503334790270027 SHORT TERM INVSTMTS212011150258672205342148713 NET RECEIVABLES356638336579370538337435317533318712 RAW MATERIALS12666012493711629011809012433697610 WORK IN PROCESS620558155484021887988698683932 FINISHED GOODS13276382423925167662810065579297 PROGRESS PAYMENT&OTH000000 INVENTORIES321478288914292827283516311977260839 PREPAID EXPENSES931181126616109821304715182 OTHER CURRENT ASSETS000000 TOTAL CURRENT ASSETS940999923175978706994436977347864760 OTHER INVESTMENTS1316391350713853259616195573661 INVST IN ASSOC COMP2NA6838392820381092169455 LONG TERM RECEIVBLES000000 PROP PLANT EQ-GROSS166428115890501547468166158515295541563906 ACCUM DEPRECIATION1091540104414110525341051093939561933592 NET PP&E572741544909494934610492589993630314 DEFERRED CHARGESNA OTH TANGIBLE ASSETS0000-1599-1603 INTANGIBLE OTH ASSTS567186912473939548425788961486 OTHER ASSETS567186912473939548425629059883 TOTAL ASSETS3160209715575531565360168776916866771798073 Linear metrics (SEC – Numbers)

18 bengin 18 © 2002 bengin.com Mapping values Linear Metrics ( Marketvalue vs. Bookvalue, von Krogh, UNISG ) Immaterielle Güter Buchwerte materieller Güter Quelle: Sveiby, Market Value, 1996, S. 1 % Sectors

19 bengin 19 © 2002 bengin.com Mapping values 1D – 2D rulers, metrics

20 bengin 20 © 2002 bengin.com Mapping values Ausfluss für das Projektportfoliomanagement: Die Strategiekonformitätsmatrix Strategiekonformität erkennen SOLL Priorisierung Abweichungen zur IST-Situation erkennen Controlling Nachvollziehbarkeit Konfliktreduktion Strategische Bedeutung Aktuelle Priorität Projekt xy Strategiekonformitäts- matrix (SKM) KPMG

21 bengin © 2002 bengin.com Mapping values 2D Vektoren

22 bengin 22 © 2002 bengin.com Mapping values Vector: Velocity

23 bengin 23 © 2002 bengin.com Mapping values 0.00 50.00 100.00 150.00 200.00 250.00 300.00 350.00 400.00 0.0020.0040.0060.0080.00100.00120.00 Monetary Value Food Media Services Electronic Information Technology Mechanical Industries Insurance Steel Electricity, Gas Wood Industries Bank Automobil Real estate Health Intangible Value Quelle: Morgan & Stanley Capital International World Index; Zitiert in: Sveiby, Wissenskapital; Seite 23; Mi-Verlag 1998 Fourteen branches (Sveiby – Morgan & Stanley)

24 bengin 24 © 2002 bengin.com Mapping values Balanced Scoremap anhand der Unternehmens- strukturen und eingesetzten Finanzmittel Finanzen und Admin. Produktion Betrieb Schulung Beitrag zum immateriellen Unternehmenserfolg 100% 23% 19% 33% 24% 21643116380 Aufwände 2001 [MCHF]

25 bengin 25 © 2002 bengin.com Mapping values Der Kosten-/Valuevergleich mit Hilfe der Balanced Scoremap Finanzen Aufwände 2001 [MCHF] Interne Geschäfts- prozesse Kunden Lernen Beitrag zum immateriellen Unternehmenserfolg 100% 23% 19% 33% 24% 21643116380

26 bengin 26 © 2002 bengin.com Mapping values Finanzen Budget, Kosten, Erträge, ROI Interne Geschäfts- prozesse Kunden Lernen Beitrag zum immateriellen Unternehmenserfolg Der Kosten-/Valuevergleich mit Hilfe der Balanced Scoremap: Detailansicht Finanzen Budget, Kosten, Erträge, ROI Interne Geschäfts-prozesse Investitionen/Projekte Beitrag zum immateriellen Unternehmenserfolg Betrieb/Systeme Investitionen/Projekte Soll Ist 33% = 100% 431 70% 30% 140

27 bengin 27 © 2002 bengin.com Mapping values Vector for mapping value of projects Monetary Value Intangible Value InvestmentEarnings expectations ROI, earnings, expenses.... [$] Structuring implicit axis as in business strategy. (Balanced Scorecard?)

28 bengin 28 © 2002 bengin.com Mapping values Unser Ansatz: Gezielte Nutzung von zweidimensionalen Analyseinstrumenten (Vektoren) ITUnternehmen Wirtschaftliche Bedeutung [CHF] Strategische Bedeutung Systeme Projekte Abgleich der IT am Unter- nehmensvektor Materielle Werte [CHF] Immaterielle Werte Unternehmen Materielle Aktiven Börsenwert IT

29 bengin 29 © 2002 bengin.com Mapping values 2D rulers, metrics

30 bengin 30 © 2002 bengin.com Mapping values Intagible Assets or Shareholder Value Expectation? 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 75 70 65 60 55 50 45 40 35 30 25 20 15 10 5 Intangible Value [i - Mia] TangibleValue [Mia] - McDonald's The explicit Value and the implicit Value together draw a complete picture about the companys value and its development. The question remains: Is the implicit Value given by the Value of the company? Is it given by some marketing tricks? Which part of it is made by the Shareholders Value Expectation? Microsoft IBM Ford CocaCola

31 bengin 31 © 2002 bengin.com Mapping values A better model for new decisions Investors: Attention! Management could use potential more effective

32 bengin 32 © 2002 bengin.com Mapping values Track the development of an enterprise Question: "What happened in the year 1996? Answer: Part of enterprise sold. 2 nd Question: Is this loss of intangible values compen- sated by the price received for the sold part of enterprise. Answer: ? Ask Auditor – if hes still available….

33 bengin 33 © 2002 bengin.com Mapping values 2000 00 551 97 648 97 0 500 1000 1500 2500 3000 Mio 0102030 Mio mV iV SPE Init Base (Value estimation) Init Offer, March 24. 2000 Evening 1st Day 1969 2'520 SPE Shareholders Profit Expectation Value Development

34 bengin 34 © 2002 bengin.com Mapping values Overpriced Papers? Stock Exchange Value 0 2000000000 4000000000 6000000000 8000000000 10000000000 12000000000 199019911992199319941995199619971998 1999 96 97 98 99....a year before the classic Market Analysis, the Vector map showed a change by Coca Cola Amatil.........

35 bengin 35 © 2002 bengin.com Mapping values Transformation (M to I) Q I Q I: Transform -M / +I - New projects - Revisions of Offerings - Insourcing/merging - +M in +I -M in out -I out R&D Q II Q II:Generation +M / +I - Daily business - Selling, dispatch - (Re)Production - Value Generation Q III Q III: Transform -I / +M - Outsourcing - leaner - Transformation (I to M) Q IV Q IV:Degeneration -I / -M - Graveyard - Value Degeneration The four Quadrants of Value generation

36 bengin 36 © 2002 bengin.com Mapping values Stock exchange mV [$] Time Classic Economy M (material) Balance M (material) In & out I c -Function Economic Value Architecture & Engineering Intangible Economy I (immaterial) In & out I (immaterial) Balance mV iV Intro iV for implicit Value mV [$] iV [i$] (Ortskurve, TEV) Value Track REV (Real Enterprise Value) SPE (Shareholders Profit Expectation) mV [$] iV [i$] REV + SPE = TEV TEV = Total Enterprise Value = Shareholder Value Structure *) *) Structure as proposed by: Balanced Scorecard and other existing Solutions for structuring (intangible) Assets. We recommend BE-Systems. Next Economy

37 bengin © 2002 bengin.com Mapping values Software

38 bengin 38 © 2002 bengin.com Mapping values SoftWare Tools from Root-Services

39 bengin 39 © 2002 bengin.com Mapping values Vorschlag nächster Schritt Readiness Assessment Resultat – Ist-Situation erhoben – Soll definiert – Die notwendigen Informationen und Werte identifiziert – Prototyp erstellt

40 bengin © 2002 bengin.com Mapping values Zusatzfolien 2

41 bengin 41 © 2002 bengin.com Mapping values Explained world Value Nach: Marle Marks, Manager Magazin 3/85

42 understanding @ bengin

43 bengin 43 © 2002 bengin.com Mapping values Evolutionäre Grundlagen und Instrumente für die Abbildung der Realität bis zur Entwicklung von innovativen Lösungen. 1. Strukturieren 2. Quantifizieren 3. Orientieren 4. Optimieren

44 bengin 44 © 2002 bengin.com Mapping values Mit einem erweiterten Abbildungssystem kommen Wissen, Können, Nutzen.... besser zum Tragen Leistung artikulieren Kunden- nutzen (interne und externe Kunden) Erklärungs- modell Abbildungs- system Know How

45 bengin 45 © 2002 bengin.com Mapping values Ein visuelles Abbildungsinstrument erlaubt ein schnelleres und vollständiges Verständnis der komplexen Realität t 1 t 2 t 3 t 4 t 5 t 6 t 7 a a/c P/E t aPaP cEcE t3t3 t5t5 t4t4 t6t6 t1t1 t2t2 t7t7 $$ i$ b t3t3 t5t5 t4t4 t6t6 t1t1 t2t2 t7t7 a c i$ b 2 b 1 t3t3 t5t5 t4t4 t6t6 t1t1 t2t2 t7t7 a c 1 c 2 Vektoren/ Komplexe Zahlen: z = a + bi Absolute: a, b, c..... Relative: a/b, a/c..... Zahlen Graphiken

46 bengin 46 © 2002 bengin.com Mapping values Reale Zahlen Imaginäre Zahlen Komplexe Zahlen tangible (fassbare) Ressourcen der Firma Objekte intangible (nicht-fassbare) Zahlen Einheit: SFR, $, Einheit: iSFR, i$, i Einheit: SFR/iSFR, $/i$, /i Objektive Zahlen Subjektive Zahlen Vektor Eigenschaften/Massstäbe Implizite Werte Explizite Werte Mapping Values

47 bengin 47 © 2002 bengin.com Mapping values Vision Aufgabe Voraus- setzungen Resultate tangibleintangible tangible Eigenschaften, Properties Mess-Systeme, Kennzahlen Focus – Objects – Measures

48 bengin 48 © 2002 bengin.com Mapping values (also the Values in the Balanced Scorecard.... ) V1V1 V2V2 V3V3 V4V4

49 bengin 49 © 2002 bengin.com Mapping values Example (Scorecard).................... Finance Internal Business- processes Customers Learning..... Finance..... internal Businessprocesses..... Customers..... Learning $ Budget, or $ Cost, or $ Earnings, or............ from/for..... 23% 19% 33% 24% 21643116380

50 bengin 50 © 2002 bengin.com Mapping values Marketing 44 35% Production 9 19% R&D 17 19% Management 10 27%.....more in details..... Learning $ Budget, or $ Cost, or $ Earnings, or............ from/for.....


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