MindTree first Indian firm to get IC rating
Bangalore, Apr 5 (UNI) MindTree Consulting, a leading IT and R and D services company, became the first company in the country to be assessed for IC Rating through a process pioneered by Intellectual Capital Sweden AB.
Intellectual Capital represented all the value-creating elements in an organisation that were not captured in traditional financial statements, but were of critical importance to a company's long-term profitability and future success, according to a company release here today.
MindTree's overall rating, both in effectiveness and renewal, was an 'A' and it received the highest possible rating of 'AAA' for its management competence. Overall, MindTree's rating puts it in the top 12 per cent of all companies worldwide that underwent the assessment, the release said.
MindTree's core competencies that came out the highest in absolute terms and with respect to the competition included internet and emerging technologies, creation and integration of IP in short-range wireless and product realisation, the release said.
The rating was based on in-depth interviews conducted by BizWorth, the Indian partner of ICS. For the rating, one-third weightage was given to inputs collected through internal interviews and the rest to those collected through interviews with external entities such as customers, partners, suppliers and investors.
The various forms of intangibles assessed in the IC Rating were aggregated into four broad areas: human capital, internal structural capital, relational structural capital and business recipe. For each intellectual capital component, the measures were done in effectiveness, renewal and risk.