EFFICIENCY OF INTELLECTUAL CAPITAL IN HOTEL BUSINESS∗

2009 ◽  
Vol 15 (1) ◽  
pp. 129-138
Author(s):  
Ante Pulić ◽  
Marko Kolakovic ◽  
Karmen Jelcic
Keyword(s):  
Intellectual Capital ◽  
Knowledge Economy ◽  
Business Practice ◽  
Business Success ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Key Factor ◽  
Strategic Goal

The strategic goal of Croatia is ”to become a knowledge-based economy and society." However, many companies, which includes hotels as well, still do not have any idea of how to cope with the challenges imposed by knowledge economy in everyday business practice. Therefore, it is vital that managers receive education on that matter, so that they can understand in which way economy is changing and how this effects them, why intellectual capital is becoming a key factor of business success and what they can do in order to create value and not destroy under the new circumstances. The Croatian IC Center has developed the PIENIC program and worked on its implementation with over 60 companies, private and state owned, from different sectors and regions.

scholarly journals Knowledge Economy Indicators and Their Impact on the Sustainable Competitiveness of the EU Countries

2020 ◽  
Vol 12 (10) ◽  
pp. 4172 ◽  
Author(s):  
Elena Širá ◽  
Roman Vavrek ◽  
Ivana Kravčáková Vozárová ◽  
Rastislav Kotulič
Keyword(s):  
Knowledge Economy ◽  
Main Idea ◽  
Topsis Method ◽  
Eu Countries ◽  
Knowledge Based ◽  
Multi Criteria Evaluation ◽  
Knowledge Based Economy ◽  
Key Factor ◽  
Knowledge Economies ◽  
The Eu

In today’s turbulent world influenced by globalization, knowledge is becoming a key factor in the market. Every economy, if it wants to be successful and competitive, must pay more attention to knowledge and its creation, transfer, and preservation. In this respect, it is a key element in ensuring a country’s sustainable position in a competitive environment. Based on this, we set out the main idea of the article as follows: increased emphasis on the factors of a knowledge-based economy affects the growth of the country’s competitiveness, which contributes to its better sustainability. To verify the idea, we used a multi-criteria evaluation of countries by the TOPSIS method and a subsequent regression model. We examined developments in the EU countries over a period of 11 years in selected indicators typical for the knowledge economies, in the area of competitiveness. Finally, we examined the sustainability of EU countries. Based on the findings of these methods, we identified the leading country—Sweden—in the field of knowledge economy, competitiveness, and sustainability.

Innovative Techniques and Strategies of Skill Building for Human Resource Development in SMEs, India

2016 ◽  
Vol 2 (2) ◽  
Author(s):  
Arti Awasthi
Keyword(s):  
Human Capital ◽  
Human Resource Development ◽  
Skill Development ◽  
Education And Training ◽  
Global Competitiveness ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Key Factor ◽  
Skill Building ◽  
And Training

India has gradually evolved as knowledge based economy due to the abundance of capable, flexible and qualified human capital. With the constantly rising influence of globalization, India has immense opportunities to establish its distinctive position in the world. However, there is a need to further develop and empower the human capital to ensure the nations global competitiveness. Despite the empathetic stress laid on education and training in this country, there is still a shortage of skilled manpower to address the mounting needs and demands of the economy. Skill building can be viewed as an instrument to improve the effectiveness and contribution of labor to the overall production. It is as an important ingredient to push the production possibility frontier outward and to take growth rate of the economy to a higher trajectory. This paper focuses on skill development in Small and Medium Enterprise (SMEs) which contribute nearly 8 percent of the country's GDP, 45 percent of the manufacturing output and 40 percent of the exports. They provide the largest share of employment after agriculture. They are the nurseries for entrepreneurship and innovation. SMEs have been established in almost all-major sectors in the Indian industry. The main assets for any firm, especially small and medium sized enterprises are their human capital. This is even more important in the knowledge based economy, where intangible factors and services are of growing importance. The rapid obsolescence of knowledge is a key factor of the knowledge economy. However, we also know that for a small business it is very difficult to engage staff in education and training in order to update and upgrade their skills within continuous learning approach. Therefore there is a need to innovate new techniques and strategies of skill development to develop human capital in SME's.

scholarly journals Transition to the Knowledge-Based Economy within the Modernization Paradigm for the States in the Core and Semi-Periphery of the Global Economic System

2021 ◽  
Vol 3 (49) ◽  
pp. 117-123
Author(s):  
O. A. Dovgal ◽  
◽  
G. V. Dovhal ◽  
H. V. Serdiuk ◽  
◽  
...  
Keyword(s):  
Economic System ◽  
Intellectual Capital ◽  
Main Function ◽  
Economic Resource ◽  
The Core ◽  
Knowledge Based ◽  
Catching Up ◽  
Knowledge Based Economy ◽  
Innovative Model ◽  
Intellectual Production

Abstract: The article generalizes the features of modern transition from industrial to post-industrial (or knowledge-based) economy within the modernization paradigm for the states in the core and semi-periphery of the global economic system. It is proved that among the historical diversity of national modernization phenomena one can single out two alternative models: an innovative model and a catching-up one. It is substantiated that the innovative model is most typical for the countries forming the core of the world economic system, while the catching-up model is more typical for countries in the periphery of global development. It is revealed that modern intellectual production covers, first of all, economic sectors producing information and knowledge. At the same time, intellectual capital also functions in productive industries, influencing their indicators as well. That is why knowledge workers, who form the intellectual strata of society, are considered to be subjects of intangible intellectual production, the latter making up the core of knowledge economy. Their main function is to produce intellectual products (socially valuable knowledge), in contrast to groups, whose social function is to embody these values and knowledge. It should also be noted that concrete historical forms of knowledge objectivisation, ways of their reproduction and, accordingly, historical types of intellectual layers can differ considerably. It is concluded that knowledge-based economy is considered as a sphere of economic activity, which nowadays is characterized by intensive use of intellectual capital as the main economic resource, in the fields of material production as well.

scholarly journals CULTURE AS A FACTOR OF KNOWLEDGE ECONOMICS WITH PARADIGMATIC CHANGES IN SYSTEMIC INSTITUTIONAL CONTEXT

2018 ◽  
pp. 58-66
Author(s):  
GIVI BEDIANASHVILI
Keyword(s):  
Knowledge Economy ◽  
Industrial Society ◽  
Economic Science ◽  
Knowledge Based ◽  
Level Of Automation ◽  
Knowledge Based Economy ◽  
Agriculture Industry ◽  
Institutional Structures ◽  
Manufacturing Activity ◽  
High Level

In modern conditions it is important to develop a systemic and institutional concept of culture as a form of knowledge economy. In order to present a systemic concept of knowledge and culture in the formation of knowledge economy, I think the new meaning of paradigmatic and conceptual aspects of economic science is of particular importance. In addition, the systematic representation of the cognition process is particularly important. As shown by the practice of recent years, the main problems in the form of knowledge technology are solved, which will facilitate the improvement of the “cognitive” function of economic science and enhance its practical benefits. The modern stage of globalization is characterized by a number of specific peculiarities of post-dosystem development, which, in our view, is important to the development of knowledge-based economy (knowledge economy). It is noteworthy that globalization stems from adding global dimensional dimensions to the knowledge economy, such as resource-technological, informative, communicative and institutional structures. In addition, we think it is necessary to understand the knowledge of the knowledge economy. This makes it possible to develop culture with knowledge as a factor of forming a knowledge economy. According to the Postindustural Theory, the main resource of the post-denser economy is information and knowledge, the main type of manufacturing activity is the high level of automation of the production, the science of technologies used primarily from the main technologies, and various services are the most common types of economic activity. In industrial society, the field of agriculture, industry - Industry, Postindustry - determinants are already theoretical knowledge with universities, as a place of active and generating knowledge.

scholarly journals Measurement of Intellectual Capital as Exemplified by Methods of Groups Based on the Roa Indicator and on Market Capitalization

e-Finanse ◽  
2017 ◽  
Vol 12 (4) ◽  
pp. 58-71
Author(s):  
Karolina Palimąka ◽  
Mateusz Mierzejewskl
Keyword(s):  
Intellectual Capital ◽  
Food Industry ◽  
Intangible Assets ◽  
Financial Statements ◽  
Point Of View ◽  
Market Capitalization ◽  
Knowledge Based ◽  
Theoretical Approaches ◽  
Knowledge Based Economy ◽  
Business Analysis

Abstract The concept of a knowledge-based economy is a relatively new topic, but it does not mean that the previous economies did not use knowledge. For many years, knowledge formed the basis of any economy, it was a factor that set the pace of each of them, but just nit is making a significant impact on the entrepreneurial environment, and more. Inherent KBE is the concept of intellectual capital. The article raises both theoretical approaches towards the concept of intellectual capital, and points to the importance (from the point of view of managing this intangible value in the company) -of measuring intellectual capital. The process of good management of the value of intangible assets must be supported by knowledge about, e. g.,its size, value, etc. The authors focus on presenting methods of measuring intellectual capital from two groups of methods by the classification made by K. E. Sveiby, who is considered one of the fathers of the IC concept. The goal of the article is to compare methods from these two groups in terms of their flaws and advantages as regards preparing business analysis. This is done through presentation of the topic, including the concept and methods of intellectual capital measurement, which was based on the review of the literature.Furthermore, based on financial statements of companies from the WIG- oil&gas index and WIG- food industry indexwaysof interpreting the final results are presented.

Media Literacy, Co-Innovation, and Productivity

2017 ◽  
pp. 1397-1430
Author(s):  
Juan-Francisco Martínez-Cerdá ◽  
Joan Torrent-Sellens ◽  
Mônica Pegurer Caprino
Keyword(s):  
Literature Review ◽  
European Commission ◽  
Media Literacy ◽  
Knowledge Economy ◽  
Organizational Innovation ◽  
Business Environment ◽  
Positive Influence ◽  
Business Context ◽  
Knowledge Based ◽  
Knowledge Based Economy

This research analyzes the connections between media literacy and context of the knowledge economy, establishing a relationship between so-called co-innovative sources (ICT, organizational innovation and qualifications of employees) of the business environment and media literacy. It seeks to verify the behavior of media literacy as a co-innovative source, as fundamental as the three other ones to the viability and sustainability of companies. Authors start from a literature review related to media literacy and knowledge-based economy and then raise their own model that integrates the co-innovative sources and media literacy (the ‘Tetrahedron of Co-Innovative Sources') with which analyze media literacy in the business context. To verify the proposed relations, the research uses the Celot and Pérez Tornero's (2009) framework (proposed in the “Study on Assessment Criteria for Media Literacy Levels” delivered to the European Commission) with official statistical sources in Europe, returning results with which to test the hypothesis that a higher level of media literacy of citizens of a country has a positive influence on its companies and businesses.

Higher Education Institutions as Viable Systems

2020 ◽  
pp. 1-25
Author(s):  
Dejana Zlatanović ◽  
Verica Babić ◽  
Jelena Nikolić
Keyword(s):  
Higher Education ◽  
Conceptual Framework ◽  
Higher Education Institutions ◽  
Education Institution ◽  
Viable Systems ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Key Factor ◽  
Viable System ◽  
Sustainable Economic Growth

In a knowledge-based economy, higher education institutions (HEIs) are a key factor in fostering innovation and play a central role in sustainable economic growth and development. Growing complexity of HEIs and their environments requires systemic, i.e. cybernetic approach to innovation. The chapter highlights the importance of introducing a cybernetic framework for innovativeness of higher education institutions by their examination in conceptual framework of organizational cybernetics (OC). The purpose is to demonstrate how viable system model (VSM) as a key methodological tool of OC can help understanding the viability and innovativeness of HEIs. In addition, higher education institutions are investigated in a conceptual framework of VSM through the case of the public higher education institution (HEI) in Serbia. The main contribution of the chapter is related to practical implications of presented framework including the strengths and weaknesses of a VSM application.

scholarly journals Knowledge management a competitive edge for law firms in Botswana in the changing business environment

2015 ◽  
Vol 17 (1) ◽  
Author(s):  
Madeleine Fombad
Keyword(s):  
Knowledge Management ◽  
Knowledge Economy ◽  
Business Environment ◽  
Law Firms ◽  
Private Sector Development ◽  
Knowledge Based ◽  
Quantitative And Qualitative Research ◽  
Knowledge Based Economy ◽  
Potential Benefits ◽  
The Cost

Background: Law firms in Botswana offer a particularly interesting context to explore the effects of transition in the knowledge economy. Acquiring and leveraging knowledge effectively in law firms through knowledge management can result in competitive advantage; yet the adoption of this approach remains in its infancy. Objectives: This article investigates the factors that will motivate the adoption of knowledge management in law firms in Botswana, and creates an awareness of the potential benefits of knowledge management in these firms.Method: The article uses both quantitative and qualitative research methods and the survey research design. A survey was performed on all 115 registered law firms and 217 lawyers in Botswana. Interviews were conducted with selected lawyers for more insight. Results: Several changes in the legal environment have motivated law firms to adopt knowledge management. Furthermore, lawyers appreciate the potential benefits of knowledge management. Conclusion: With the rise of the knowledge-based economy, coupled with the pressures faced by the legal industry in recent years, law firms in Botswana can no longer afford to rely on the traditional methods of managing knowledge. Knowledge management will, therefore, enhance the cost effectiveness of these firms. Strategic knowledge management certainly helps to prepare law firms in Botswana to be alive to the fact that the systematic harnessing of legal knowledge is no longer a luxury, but an absolute necessity in the knowledge economy. It will also provide an enabling business environment for private sector development and growth and, therefore, facilitate Botswana’s drive towards the knowledge-based economy.

VARIOUS ASPECTS OF INTELLIGENT COLLABORATIVE EDUCATIONAL SYSTEMS

2017 ◽  
Vol 2 ◽  
pp. 67
Author(s):  
Sabina Katalnikova ◽  
Leonids Novickis
Keyword(s):  
Intelligent Systems ◽  
Intelligent System ◽  
System Development ◽  
Effective Means ◽  
Educational Systems ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Wide Range ◽  
Key Factor ◽  
System Knowledge

In connection with the transition to a knowledge-based economy, at a time when a key factor in the development of society is the accumulated human knowledge and skills, as well as the availability of a wide range of users, intelligent systems are becoming very popular. Accordingly, the demand of the ergonomic and effective means of designing this class system is growing as well. The most time-consuming and most important stage of intelligent system development is the formation of the system knowledge base which ultimately determines the efficiency and quality of the entire intelligent system. Knowledge representation and processing models and methods as well as the intelligent system development techniques operating on the basis of these methods and models have a crucial role in relation to this. The article explores the different aspects of intelligent collaborative educational systems, describes the overall structure of an intelligent collaborative educational system and reflects the different steps of development the system.

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