Over the past few decades, the landscape of the Fortune 500 has changed immensely. Reflecting on this transformation, Alan Murray, the founder of Fortune, offers an intriguing perspective. “If you go back 50 years and you look at the balance sheet of Fortune 500 companies in the 1970s, over 80 percent of the value came from physical entities - from oil in the ground to inventories on the shelves," he says.
But he points out that this is no longer the case. In today's digital age, more than 85 percent of the value of the Fortune 500 is tied up in intangibles such as intellectual property, software, and brand value. At its core, brand value epitomizes the emotional bond a brand shares with its customers. The emphasis has shifted from the tangible to the intangible; from concrete assets to human emotion and ingenuity. As Murray explains, “Ingenuity is the human capacity to craft innovative solutions to enhance life."
Blake Morgan is a customer experience futurist, keynote speaker, and author of the bestselling book The Customer Of The Future.