scholarly journals INTELLECTUAL CAPITAL AS STRATEGIC PERFORMANCE OF THE ORGANIZATION

2018 ◽  
Vol 28 (5) ◽  
pp. 1545-1551
Author(s):  
Svetlana Trajković
Keyword(s):  
Competitive Advantage ◽  
Intellectual Capital ◽  
Positive Relationship ◽  
Business Environment ◽  
Modern World ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Long Run ◽  
New Knowledge ◽  
The World

The ability to manage knowledge becomes an increasingly important strategic activity in today's so-called. knowledge economy. To prioritize the preservation and improvement of intellectual capital, creating and disseminating knowledge within a modern organization, is becoming an increasingly decisive factor in achieving and maintaining its competitive advantage. The only viable advantage of a modern organization comes from what the company knows and how effectively is used what it knows and how quickly it acquires and uses new knowledge. There is a positive relationship between the intellectual capital and the performance of an organization. Intellectual capital is in correlation with the organization's future performance, and the growth rate of intellectual capital is in a positive relationship with the organization's performance, while the contribution of intellectual capital to improving the organization's performance varies, and is the result of strategic management of the organization itself. In this context, only the learning organization, which is constantly looking for new, innovated and / or enhanced knowledge in the field of activity, has the conditions, chances and opportunities to move forward in the real world. In the modern world, the world of a knowledge-based economy, a competitive advantage that is sustainable on the narrow paths, can only be achieved if the organization takes a lasting commitment to learn, invest in people and their intellectual potential, to support the need of people to continuously explore, learn and accept new, more complete and applicable knowledge. Regarding this, investing in the intellectual capital in the short term may be a significant cost to the organization, but in the long run, any investment in the development of intellectual capital - new knowledge - both scientific, general theoretical, and practically applicable will have a multiplier positive effect on the future business of the organization. The experience of organizations from the world of work has unambiguously confirmed this. Namely, companies that base their business on exactly human cognitive and scientific potentials have the advantage, that is, the world's leading companies are in terms of profit. First of all, these are companies in the field of low-tech technologies, and they are not quite necessary because they are notorious. But, from the experience of such organizations, they can and / or have to learn all the organizations they intend to succeed in a modern, very turbulent business environment. This is especially important for those organizations that intend to be leaders in an area or branch of business. Today, leadership is not realized solely on the basis of the number of pieces produced by a product or on the basis of the number of transactions with the environment, on the contrary, the leader is the organization of work that is imposed as an organization where the intellectual, and parallel with it, also the human capital prevails. Because, it is known, also in practice, that only when people feel in a certain organization friendly, only then do they give their maximum contribution. Only in conditions of complete freedom, some seemingly lucid ideas become "full of hits" in realizing and meeting the needs of the market and people who market it.

scholarly journals Seeking a potential system in managing organizational knowledge flow towards enhancing individual learning and intellectual capital

2013 ◽  
pp. 391-403 ◽  
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Business Environment ◽  
Individual Learning ◽  
Business Practices ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Potential System ◽  
Different Types ◽  
The Relationship

The knowledge-based economy of today heralds an era where the business environment is characterized by complex and ever-changing conditions, driven by rapid technological advancements. With knowledge regarded as the main competitive resource, continuous learning becomes critical to firms as they try to keep up with the latest technology and business practices. Moreover, knowledge resides within individual employees, and the challenge is to ensure that knowledge is acquired, applied, and shared to benefit the firm. The situation becomes more complex when it is established that there exists different human capital in firms at any one time, differentiated based on the types of knowledge they contribute to the firm. Further, scant literature exists on the relationship dynamics between the different human capital groups and their influences on individual learning. This paper aims to propose a potential system to manage interaction between the different human capital groups within firms, and its link to enhancing different types of individual learning and intellectual capital.

scholarly journals How Can Ibn Khaldun’s Economic Philosophy Revive the Intellectual Capital of Entrepreneurs

2017 ◽  
Vol 13 (6) ◽  
pp. 164
Author(s):  
Sakinah Mat Zin ◽  
Ahmad Azrin Adnan ◽  
Iskandar Hasan Tan Abdullah
Keyword(s):  
Social Sciences ◽  
Intellectual Capital ◽  
Business Performance ◽  
Human Beings ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
The Social ◽  
The World ◽  
Medium Enterprise ◽  
Economic Philosophy

Ibn Khaldun’s magnificent reflections on the economic growth and philosophical insights into the behavior of human beings and society, as well as interrelationships among various disciplines such as politics, economics, sociology and education have reckoned him the outstanding figure in the social sciences and one of the greatest philosophers in the world. A comprehending to Ibn Khaldun’s Economic Philosophy and its outcomes for outstanding business performance assists entrepreneurs in managing intellectual capital (IC) purposefully. IC is deliberated as an indispensable factor in an organizational exertion to accentuate on bringing about competitive gains and augmenting value creations in knowledge-based economy. Instead of engaging merely on innovativeness of new products, Small and Medium Enterprise (SME) entrepreneurs must also concentrate on administering IC in accordance to Ibn Khaldun’s Economic Philosophy. This paper targets to appreciate and re-examine contributions in Ibn Khaldun’s Economic Philosophy and IC in entrepreneurial researches and indicate how Ibn Khaldun’s Theory of Development is pertinent to research in the expanse of IC.

scholarly journals Intellectual Capital: ISVA, the Alternative Way of Calculating Creating Value in Agricultural Entities—Case of Poland

2020 ◽  
Vol 12 (7) ◽  
pp. 2645
Author(s):  
Magdalena Kozera-Kowalska
Keyword(s):  
Intellectual Capital ◽  
High Efficiency ◽  
Value Added ◽  
Production Costs ◽  
Total Production ◽  
Working Capital ◽  
Agricultural Enterprises ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Long Run

In the knowledge-based economy, knowledge is regarded as a strategic resource that helps entities to become market leaders. This strategy has been successfully used for years by companies operating in various sectors of the economy. The exception, however, is agriculture, which has been seen for years as a sector with low knowledge intensity and is one that is skeptical about the possibility of using knowledge. This is important especially in that the use of it is, for many managers, still unconscious, and, therefore, this factor remains unused in practice. This paper describes the Intellectual Sources of Value Added (ISVA), an alternative method for analyzing the productivity of tangible and intangible inputs affecting the value-adding process in agricultural holdings. The reasons for developing the concept of that indicator were the imperfections found in the Value-Added Intellectual Coefficient (VAIC™), a widely adopted method authored by A. Pulić. However, the index of efficiency of intellectual capital (VAIC), recognized as suitable for research purposes, demonstrates certain methodological imperfections, including the simultaneous use of resource- and flow-based values. In addition to certain relevant reservations, the above has other consequences, including the declining trend followed by the efficiency of working capital calculated using this formula. In a situation where working capital is observed to grow, this would mean that funds are irrationally invested in assets with a decreasing capacity to add value. This results in drawing a false picture of economic realities of agricultural holdings which, by nature, demonstrate a high share of physical asset consumption in total production costs. As another consequence, the calculated value of the indicator becomes unacceptable in the long run. The use of the ISVA indicator allowed the author to obtain homogeneous results in terms of methodology and confirming the regularities observed in practice. In addition, the research confirmed not only the fact that agricultural enterprises have intellectual capital resources, but also the high efficiency of their use, exceeding the efficiency of use of traditional ones. It also indicates the desirability of continuing research using measures that will enable the monitoring of intellectual capital and their use in agricultural enterprises.

scholarly journals Role of Intellectual Capital on Firm Performance (Evidence from Iranian Companies)

2013 ◽  
Vol 12 ◽  
pp. 43-50 ◽  
Author(s):  
Bahram Meihami ◽  
Zeinab Varmaghani ◽  
Hussein Meihami
Keyword(s):  
Intellectual Capital ◽  
Positive Impact ◽  
Manufacturing Firms ◽  
Business Organizations ◽  
Manufacturing Companies ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Tangible Assets ◽  
The World

Intellectual capital for companies, particularly manufacturing firms in the third millennium can be considered as a competitive advantage. The purpose of the research is to examine the role of innovation capital in the creation of value for business organizations. Intellectual capital (IC) disclosure has been receiving an increasing amount of attention among the companies around the world such as Australian companies, Italian companies and others. This is due to the new economy driven which is knowledge-based economy where value creation become one of the crucial issues in the world and tends to be based on intangible rather than tangible assets. In this study, a questionnaire was distributed among manufacturing companies have tried to collect statistical information. Questionnaire was divided between manufacturing firms and financial operations managers.The result shows that a company‟s IC in general has a The significant positive impact on its financial and market performance.

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 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.

Intellectual Capital

2010 ◽  
pp. 237-252 ◽  
Author(s):  
Maria do Rosário Cabrita ◽  
Virgílio Cruz Machado ◽  
António Grilo
Keyword(s):  
Competitive Advantage ◽  
Intellectual Capital ◽  
Sustainable Competitive Advantage ◽  
Central Question ◽  
Organisational Performance ◽  
Holistic Model ◽  
Knowledge Based ◽  
Study Support ◽  
Key Driver ◽  
Strategic Perspective

With the rise of the “new economy”, knowledge became a most valuable resource. Accepting knowledge as a resource suggests that knowledge can be acquired, transferred, combined and used, and it may be a potential source of sustainable competitive advantage. In this context, knowing how an organization creates value, based on its potential of knowledge, became a central question in management research. Under a strategic perspective, knowledge that creates value is defined as intellectual capital, the application of which will give organisations sustainable competitive advantage. Therefore, identifying, measuring and managing intellectual capital is crucial for corporate innovation and competitiveness. The purpose of our study is to examine the interrelationships and the effects of interaction between intellectual capital components and organisational performance, and defines how knowledge creates value. The study is developed in the context of Portuguese banks, an industry where differentiation of products and services almost exclusively hinges on the continuous rejuvenation of the underlying knowledge base. Empirical findings from this study support the propositions that intellectual capital is a key driver of organisational performance and that a knowledge-based perspective holds a more holistic model of organisations’ value creation.

The Role of ICTs and the Management of Multinational Intellectual Capital

2011 ◽  
pp. 2457-2472 ◽  
Author(s):  
Mirghani S. Mohamed ◽  
Mona A. Mohamed
Keyword(s):  
Competitive Advantage ◽  
Information And Communication Technologies ◽  
Intellectual Capital ◽  
Communication Technologies ◽  
Supply Network ◽  
Global Knowledge ◽  
Knowledge Based ◽  
Information And Communication ◽  
Governance Strategy

This chapter provides a systematic multidisciplinary framework that defines the role of technology in leveraging IC across borders and between headquarters and subsidiaries. In reaching this conclusion, this chapter investigates the strategic importance of Information and Communication Technologies (ICTs) in the management of Intellectual Capital (IC) within a Multinational Company (MNC) ecosystem. The chapter addresses the transubstantiation of MNC into boundaryless Global Knowledge-Based Organization (GKB-MNC) which ultimately propagates into Learning MNC (LMNC). The latter is a suggested MNC category that sustains competitive advantage through systemic adoption of “Knowledge Iterative Supply Network (KISN)” model proposed by the authors. The chapter suggests a new multinational ICT/IC governance strategy that handles the emerging complexities associated with modern intangible resource synthesis.

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