Are company archives and collections valuable? The answer depends on what’s in them.
This doesn’t necessarily mean that a valuable collection has to be filled with oil paintings, gold bullion and precious jewels – far from it. Company collections, unlike museum collections, are judged both on intrinsic and financial value, so a good company collection will be invaluable to the company regardless of its financial worth. It will illustrate the development, leadership, staff, processes, innovations, manufacturing or products of the company by providing a documented repository of information, images, documents and three-dimensional items. If a company does have financially valuable items, these are useful strategic assets to the company’s balance sheet and should be cared for as important historical items in a museum would be.
A poor collection will be the opposite – patchy in terms of when items were collected, unbalanced in terms of written, visual and three-dimensional items, and might contain damaged, eaten or mouldy items which are undocumented, uncatalogued and uncared for. Upon looking at items in a collection like this, little knowledge can be gained because images will be unnamed, documents will be unenlightening and photographs won’t have dates, locations or notes to enrich their intrinsic value. A good curator can spot the gaps, clean up the damage and try to repair the collection to make it worth keeping.
So is it worth having a collection? We all like to see where we’ve come from and to hear the stories of others, partly so that we can compare and contrast that with where we are now and where we want to be. Companies are no different. A good collection can illustrate the founding beliefs of the company and show that these principles are still maintained, show a clear line of object production or innovation, instil trust and remind staff and clients of the company’s longevity and ethos.
Some collections are more important than the company. One charitable company has a collection of items relating to Admiral Lord Horatio Nelson: visitors from all over the world are interested in them. Poor care has led to the breakage of one of these hugely important items. The intrinsic value remains; the financial value is much diminished.
Companies who understand Social Responsibility, who embrace PRIDE or who are Investor In People will also understand that a company is more than its balance sheet alone – it comprises people, populated by people and kept afloat by people, and all of those people have emotions and feelings which can be evoked. The collection can be used to inspire, surprise, enhance empathy, trust, brand awareness and positive emotions – it’s touchy feely; it’s the human side of the company. An archive, collection or exhibition of company history provides a personal reaction in a way that any amount of soulless strategic branding, marketing and promotions can’t.