Study Case: Skandia Afs

Module VI  

Competence  Development in Companies 
 
                           

     

LEADERSHIP AND COORDINATION  STRATEGIES FOR TEAM WORK
 

 

Case Study

Unit 1: Leadership andCoordination Strategies for Team Work

 

SKANDIA AFS
Skandia AFS is a federation of financial organisations, based in Sweden, which operate in the United Kingdom, United States, Colombia,Spain, Switzerland, Luxembourg, Germany and Hong Kong. It is one of the few organisations in the world that has played an active role in establishing the framework for the evaluation of intellectualcapital. In 1991, the company selected Leif Edvinsson as Director. Edvinsson’s job was to discover possible ways of valuing intangible (or hidden) assets of the organisation and to develop a model ofintellectual capital management. In 1993 a controller of intellectual capital was appointed in order to develop a series of accounting information systems and intellectual capital that could be integratedwith traditional financial accounting. The controller monitors and analyses the assets that are traditionally not accounted for. Since 1993, Skandia has introduced a supplement to their financialreports reflecting the growth of the organisation's intellectual capital. Data included in the annual review of Skandia intellectual capital did not directly translate into financial results. However, thiswas not Skandia’s fundamental objective: the fundamental objective of the organisation was to understand the relationship between early indicators and financial results present in the annual report.Skandia's financial department worked with each of the companies that made up the organisation with the goal of developing a set of performance indicators regarding the specific situation of each ofthese companies. All companies within the group developed indicators in five areas: finance, customers, people, process and renewal and development. This set of indicators, called the Navigator, and...