117 Nonconventional Technologies Review ©2014 Romanian Association of Nonconventional Technologies Romania, December, 2014 INTEGRATED METHOD FOR EVALUATION OF INTANGIBLE ASSETS APPLIED TO RESEARCH SMES FROM NONCONVENTIONAL FIELD Viorel Vulturescu 1 , Daniel Ghiculescu 2 , Niculae Marinescu 3 , and Marius Mitroi 4 1 Politehnica University of Bucharest, Romania, vvultur@yahoo.com 2 Politehnica University of Bucharest, Romania, daniel.ghiculescu@upb.ro 3 Politehnica University of Bucharest, Romania, niculae.marinescu@yahoo.com 3 Executive Agency for Higher Education, Research, Development and Innovation Funding, Romania, marius.mitroi@uuefiscdi.ro ABSTRACT: The paper deals with an integrated method for evaluation of intangible assets applied to Small and Medium Enterprises (SMEs) activating in research, through which they aim at obtaining sustainable competitive advantage (SCA). The intangible assets are strictly connected to competencies, which if are distinctive relative to competitors, represent a major option to SCA achieving. The elaborated method based on Producer Matrix needed to evaluate intangible assets in connection with competencies is integrated with products evaluation, based on Customer Matrix, and also with decision method based on Risk Cube. Another evaluation method with qualitative-quantitative character was described based on best practices leading to SCA achieving. KEY WORDS: Intangible assets, research, small and medium enterprises, nonconventional technologies. 1. INTRODUCTION Sustainable competitive advantage (SCA), mature concept studied by many personalities in the field, some of them improving it recently, is the basis for major economic performances for any enterprise [1, 2, 3, 4, 5], regardless of the field in which it activates, but it becomes essential in high-tech areas like nonconventional technologies. Research and consequently innovation is the main source of SCA, according to Joseph Schumpeter [6]. Technical innovation is a compulsory approach for enterprises activating in the field of the paper, but this cannot be achieved without owning specific intangible assets (IA) and connected competencies. The process of SCA achieving based on IA is synthesized in fig. 1. The importance of intangible resources, integrated successively by capabilities and distinctive competencies - with the same intangible nature - at SCA obtaining, is also explained by their connection to the parameters for evaluating the probability to obtain SCA: Dc – distance of organization against its main competitors (based on Customer Matrix); Dp – duplication difficulty of SCA; St – sustaining over time of SCA (Dp and St based on Producer Matrix) [7, 8]. Figure 1. Model of SCA obtaining based on intangible resources Many evaluation methods of IA were elaborated like [9, 10]. The tool created in the frame of EVLIA project [11] has a high degree of complexity with holistic character, requiring relative high time consuming for using. This is justified by the intention to get access on this basis, of SMEs to financial resources of different financial actors types. Since SMEs have usually low level of corporate actives, it is difficult to get financial loans, but this trend is about to change on USA financial markets and progressively in Europe. Here, the problem is not having enough methods to evaluate intangible assets, but to apply them to solve this important economic bottleneck. The main evaluation method for IA, proposed in this paper is differentiated from similar ones through its integration with internal and external analysis, aided by a proactive approach by coupling it with a decision maker method, based on risk minimization. 2. EVALUATIONS AND STRATEGIES IN THE FRAME OF PRODUCER MATRIX This variant of intangible assets evaluation of an enterprise is conceived in strong connection with its organizational competencies, based on Producer Matrix (PM), which is a method of internal analysis. The producer matrix involves two variables: the effectiveness and the cost per unit [12], presented in fig. 2. Hence, the producer matrix establishes the relation between the relative cost per unit and relative competencies of the organization. The position of an organization O is determined by relative coordinates through comparison with main competitors on the market segment. Capabilities Resources Distinctive competencies SCA Integration in processes Integration in products Capitalization Intangibles resources