The Intellectual Capital Engine for Organizational Governance and Sustainability: A Theoretical Inquiry and Path Analysis
Journal Title: International Journal of Computational Engineering and Management IJCEM - Year 2014, Vol 17, Issue 2
Abstract
Purpose : The purpose of this paper is to review the international literature in the historical and current context of intellectual capital (IC) to leverage it from a third-dimension. This is approached through a big-picture erudition of the IC domain with an “application-rather-than-theorizing” psyche since there already amply exists a “concepts-typologies-frameworks galore” in the IC domain richly and sumptuously marinated over 21 years. This paper is to aid all stakeholders to leverage IC with the twin-purpose of business sustainability the raison d etre of any economic calling. “Measure and Report IC to manage and lead” with a proactive mindset-toolset-skillset paradigm is the quintessence of this paper. The paper maps a three-pronged approach to standardize and universalize a framework to achieve Business efficiency and effectiveness. Design / methodology / approach: The paper through a literature review examines the seminal papers and books focused on currency, accuracy and objectivity citing authoritative and current resources. It maps the essence of evolving IC research to enable all IC stakeholders to take notice of IC from the perspectives of its total components, value creating processes for total improvement management, business performance reporting (both financial and non-financial) and business sustainability from the standpoint of triple bottom line (people, planet and profit) in the context of the ever-lurking strategic inflection points or stalls that never-ceasingly stare business and industry in their face. Findings: The paper is a theoretical analysis of IC that documents the maturity evolution of the IC domain by piecing together the theory building-blocks of IC to be pragmatically pitch forked on to the “best-in-class business practice arena”. This would be the cornerstone to bridge the theory-practice divide to provide an empowered launch pad through ‘One Intellectual Capital’ for all stakeholders for value creation to achieve business sustainability from the Practitioner-Consultant-Researcher perspective. Research implications / Limitations: The paper surveys mostly western literature with occasional notations from Indian perspective pointing out the vast scope to leverage current IC theory and practice for business continuity and sustainability. The insights would aid scholars and practitioners alike because market capitalization which is the core of the economic world hinges on talent, intelligence and knowledge that are a worldwide economic force for managers, business leaders and investors in the global village. Nevertheless, the paper must be empirically examined and proved since empirical findings have to make sense in addition to being statistically significant. Practical implications: This study examines the abstract conceptualization and concrete experience of IC thought leaders, reflectively observe the context and embark upon active experimentation to strengthen (a) great focus and execution (b) great leadership and (c) great people. In other words,to empower business and management not to mention of accountants, auditors, scholars, individual and institutional investors, financial analysts shareholders, regulators and national governments. Originality/Value:. This paper contributes to both literature and practice for the first time by mapping a state-of-the-art, Holistic Intellectual Capital-anchored Business (HICABTM) Model using the theory on IC research. This is to earnestly enable 21st century organizations to passionately improvise and deploy them to achieve organizational greatness through sustained performance, intensely loyal customers, a winning culture and distinctive contribution all mercifully and thankfully catalyzed and accomplished by IC.
Authors and Affiliations
Anthony Thiagarajan, Utpal Baul
Keywords
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