Managing Intangibles and Improving Governance Through the Theory of Complexity

Companies today face a hard challenge: they have to not only survive amidst global competition, but also, and above all, stand out as an agent with unique and attractive ways of management and making a difference. In a similar context, intangible assets have a central role, but their management, if handled by traditional, deterministic, and reductionist techniques, can have paradoxical and dangerous effects for a company, both internally and externally. This analysis aims to present an intangible management model based on the theory of complexity. The model views intangible assets according to their classification in the literature, but its underlying hypothesis is that the intangibles are complex objects that are, in turn, composed of other complex objects that establish dynamics among them characterised by an effect–feedback relationship (also known as dynamic and generative feedback loop). The model focuses on the relationships among the elements constituting the intangible assets to build a network of links between the objects at the system’s base. A similar approach highlights the channels on which the effects of actions are felt, including their speed, intensity, and the probable impact on the whole structure. Finally, through various case scenarios, the model could help managers perform a forecast analysis to evaluate different modes of behaviour.