Importance of scientific and practical tools in managing the components of intellectual capital of an enterprise

Apply

Importance of scientific and practical tools in managing the components of intellectual capital of an enterprise

Journal Title: Economics&Education - Year 2017, Vol 2, Issue 1

Abstract

Socio-economic and scientific-technological progress, informatisation and intellectualisation of labour activity increase the role of intellectual capital in the activity of business entities of all types and forms of ownership. In the conditions of knowledge economy it is exactly cognitive components of human capital and various types of intangible assets that become determinant while ensuring competitiveness and increase in value of enterprises. Efficient management of a company’s intellectual capital is ensured on the grounds of adequate assessment and continuous monitoring of the dynamics of the company’s development, and on the identification of upward trends for specific types of intangible assets, which is implemented in the course of the company’s financial and economic activity. The systematic monitoring of this invaluable asset ensures obtaining of important information for making managerial decisions. However, methods of intellectual capital monitoring allow to only state the current condition of specific components of intellectual capital at a certain point in time. They merely form informational base for managerial decision making and for the development of specific ways to increase the efficiency of use and to activate accumulation of intellectual capital. Monitoring alone is insufficient for the comprehensive management of intellectual capital. It is necessary to develop the tools which would give an opportunity to not only evaluate the current condition of different components of intellectual capital at an enterprise, but also to develop specific directions of its improvement, which will result in significant benefits (profit growth or cost reduction) for an enterprise. To develop a strategy of efficient intellectual capital management of an enterprise it is essential to, firstly, identify its strategic and tactical goals and, secondly, to work out relevant tools, which will make it possible to not only evaluate the current condition of different components of intellectual capital, but also to develop the strategy of their development. To meet the set objectives the Author proposes the strategy of multi-vector management of intellectual capital. The strategy includes three main directions: human capital development, market capitalization increase, structure capital accumulation. The proposed strategy of multi-vector development will enable an enterprise to comprehensively analyse each component of its intellectual capital, to identify the projects which are aimed not only at the gaining of long-term economic benefits, but also at the achievement of the full capitalisation of investments in each component of intellectual capital.

Authors and Affiliations

Valentina Djakona

Keywords

EP ID EP286292
DOI -
Views 119
Downloads 0