Intangible Assets
Intangible assets are those that cannot be measured in numbers and, therefore, are not shown in the Company's financial statements. These assets are major distinct features that strengthen the businesses and significantly help the Company create value. Among the intangible assets that have been consolidated by Algar Telecom during the period of over five decades of operations, the most relevant are:
Brand power
Algar Telecom, which owns the CTBC brand, is the oldest telephone company in Brazil, acknowledged for its top-quality services and client satisfaction, since its foundation in 1954. It is a Brazilian public limited company controlled by the Algar Group, which operates in the segments of IT/Telecom, Agribusiness, Services and Tourism. In 2012, the strong image enjoyed by the Company in the market was a determining factor for the success of its second public placement of debentures, whose demand exceeded estimates by nearly 65%.
Excellence in technology
The excellence in technology and the offer of innovative services are some of the main competitive edges that reinforce Algar Telecom's position in the market, which consist in crucial factors within a market whose largest portion is controlled by major international players. The excellence in technology results from the Company's innovation culture, as described in a specific chapter in this report.
Human and intellectual capital
Algar Telecom is recognized by its team of highly-skilled professionals, who are committed to the clients. Such acknowledgement stems from the Company's belief in the ability to change and in the engagement of the people who bring the Company to life, expressed in the Vision PEOPLE SERVING PEOPLE and supported by its well-structured policy of valuing talents, which is chiefly fostered by UniAlgar, the Group's corporate university. UniAlgar is present throughout each associate's human and intellectual development and manages all knowledge acquired, disseminating it to all Algar companies.
Work environment
A company's sustainability also depends on its Human Talents' satisfaction. The Company constantly seeks to create a healthy working environment, to which all its associates are proud to belong. The effectiveness of its initiatives, as well as the development of new strategies to improve the working environment in all its units, is assessed by a quantitative and a qualitative Organizational Climate Survey conducted every year and every two years respectively. In 2012, 95% of the associates were covered by the survey, including professionals of all Algar Telecom's hierarchic levels. For 93% of the participants, Algar Telecom shows respect in treating its associates, whereas 96% stated that are committed to the goals and targets attributed to their areas. The general satisfaction rate stood at 67%.
