Intangible assets refer to the non-physical assets that are a prospective source of future economic gain for the organization (Zulkhibri, 2015). The company that I have chosen is Al-Suwaiket Trading and Contracting Company. The company deals with construction, real estate, and providing oil and gas services (Al-Suwaiket, n.d.). Some of the intangible assets of the company include high-quality operating and innovative services, organization competencies, organization culture, employee skills and motivation and relational capital. The reputation of Al-Suwaiket Trading and Contracting Company matters a lot, and that is why the company builds on its intangible assets to ensure that they gain positive feedback from customers.
First, the reputation of the company is strong because of the high-quality operating and innovative services it offers customers. The company is known for its innovative products and services (Fattouh, Poudineh & Sen, 2016). Besides, Al-Suwaiket Trading and Contracting Company is quick at marketing and adapting to change. Since the quality expectation from customers is high and they always give positive reviews, the company uses customer’s feedbacks as guidance in providing best products and services. Second, the organization’s culture enhances a healthy workplace environment. The organization offers equal opportunities and rewards outstanding employees fairly. The culture of providing quality work environment increases brand loyalty and employee enthusiasm (Martin & Siebert, 2016). According to Benson, Clarkson, Smith and Tutticci (2015), increased employee motivation due to a strong working environment results in improved customers services.
Lastly, with organization competencies, Al-Suwaiket Trading and Contracting Company can deliver value to their customers. The company exhibits efficiency thus improving customer services (Fattouh, Poudineh & Sen, 2016). Al-Suwaiket’s ability to engage clients on time and budget has enabled it to retain more customers. Another core competency of the company is the use of advanced technology in oil and gas drilling, which has enabled it to build a strong reputation.
Al-Suwaiket. (n.d.). About us. Retrieved from http://www.alsuwaiket.com/wp/welcome/
Benson, K., Clarkson, P. M., Smith, T., & Tutticci, I. (2015). A review of accounting research in the Asia Pacific region. Australian Journal of Management, 40(1), 36-88.
Fattouh, B., Poudineh, R., & Sen, A. (2016). The dynamics of the revenue maximization–market share trade-off: Saudi Arabia’s oil policy in the 2014–15 price fall. Oxford Review of Economic Policy, 32(2), 223-240.
Martin, G., & Siebert, S. (2016). Managing people and organizations in changing contexts. Routledge.
Zulkhibri, M. (2015). A synthesis of theoretical and empirical research on sukuk. Borsa Istanbul Review, 15(4), 237-248.
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