The first problem with TCO is that it fails to capture intangible value.

TCO的第一宗罪是它未能捕捉无形价值。

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On luxury goods, the intangible value of its value is often higher than can be seen.

对奢侈品而言，它的无形价值往往要高于可见价值。

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The talent of entrepreneurs is one of manifestations of intangible value of human resource.

企业家才能是人力资源无形价值的集中表现形式。

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So pitting intangible value against concrete cost increases is a hard sell, even when the net present value is positive.

FORBES: Clarifying Corporate Responsibility, Part IV: Capturing And Sustaining Value

It could also well be that it is up to us to reclaim the real value of things: the intangible value.

FORBES: Are Group Deals Killing Brands?

My purpose in this piece is to present B-B-N as a source of information for the board of directors, and explain how board members can use the information to help management in maximizing the future intangible value of the enterprise.

FORBES: The Other Duty of Corporate Governance