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Definition: Skandia Navigator Leif Edvinsson
Skandia Navigator is used to measure the intangible assets mainly the intellectual capital and knowledge assets of a company. It was developed by Leif Edvinsson at Skandia (a Swedish Financial Company). The measurement is done on the basis of five focus areas.
Financial Focus: Here the long term goal of a company is measured. Also the financial performance of the company is measured.
Customer Focus: Here how well the company is focussed on its customer needs are measured, whether the company is able to provide customer satisfaction through its goods and services. In other words, the company is measured from a customer’s perspective.
Process Focus: It measures mainly the efficiency of the company. Whether the processes that are followed in the company to create the goods and servicesare effective. The key indicators for this can be administrative costs per employee and number of accounts per employee.
Human Focus: It is the centre of the Skandia Navigator. It measures how the company stands on employee satisfaction measurement. How knowledge creation is done inside the company. A satisfied employee will work effectively to produce goods and services which will satisfy the customer.
R&D Focus: It measures how a company is focused on creating new products and goods for its customer and to stay in competition.