Comparison between Efqm Business Excellence Model and Intellectual Capital Management: the Case of a Government- Sponsored Large R&d Organization

In the last few decades, there has been considerable agreement in academic and practical fields that the total value of an organization is not adequately expressed by traditional accounting tools. The gap between accounting values and market values has resulted in an increase in the interest of Intellectual Capital (IC) (Cordazzo, 2005; Mouritsen et al., 2005; Sveiby, 1997). In this background, the important main feature of the new economic environment is represented by the IC that encourages the core value of performance (Meritum, 2002). A growing number of organizations and actors (governments, enterprises, regulators and accounting professionals) are trying to measure and report their IC value (Zambon, 2003). A well-known example of the institutional level is the IC movement by the EU Commission, the Organization for Economic Cooperation and Development (OECD), the Danish Agency for Trade and Industry, and the Germany Federal Ministry of Economics and Labor.