Why don't we focus on intangible assets?

Intellectual capital is a term that refers to all business factors that are not directly presented in the financial statements and is the most significant factor of production in all sectors of the economy. Intellectual capital research emphasizes the new value and creates a competitive advantage by enhancing the flow of knowledge within the organization.

Definition and structure

Intellectual capital is the sum of the collective knowledge, experience, expertise, abilities, and skills of an organization on how to create intangible values ​​for the organization. Also, intellectual capital includes the intangible resources of the organization or its intangible assets. Definitions of intellectual capital are various, but there is only one structure that consists of human, structural (organizational), and consumer (relational) capital.


Human capital

Human capital refers to the different knowledge, skills, abilities, and experience of employees that they use in the business process. it is also a driver of intellectual capital because it refers to the accumulated value of investments in education, expertise, and the future of human resources, and their ability to transform all of the above into active creation of added value for the organization. Human capital is the only one able to accept and implement new knowledge in everyday practice, and turn it into innovation, imitation, adaptation, and materialization.


Structural capital

The transformation of human capital, as its embodiment and infrastructural support, creates structural capital. Although it includes intangible elements such as organizational structure, routines, business processes, and others, unlike human capital, structural capital can be quantified and valued. Structural capital is made up of factors that remain in an organization after employees leave the organization after hours, and these include the organization’s intellectual property and organizational processes.


Consumer capital

Consumer capital shows the relationships between the strategic business units of the organization and the interrelationships between the organization and the external environment, as well as all other stakeholders from the external environment of the organization. Accordingly, consumer capital can be grouped into three categories, namely business networks, brand and consumers themselves, or the relationship of the organization with them.


Sources:

  1. Kolaković, M. (2003). TEORIJA INTELEKTUALNOG KAPITALA. EKONOMSKI PREGLED, 54(11-12), 925-944.

  2. Sundać, D., & Fatur, I. (2004). INTELEKTUALNI KAPITAL-ČIMBENIK STVARANJA KONKURENTSKIH PREDNOSTI LOGISTIČKOG PODUZEĆA. Ekonomski pregled, 55(1-2), 85-96.

  3. Sundać, N. & Švast, N. (2009). INTELEKTUALNI KAPITAL-TEMELJNI ČIMBENIK KONKURENTNOSTI PODUZEĆA. Ministarstvo gospodarstva, rada i poduzetništva, Zagreb.

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