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Intellectual capital as the basis for achievement sustainable competitive advantage of the enterprise in transition

Researchers in the areas of sustainable competitive advantage have come to the conclusion that the only thing that gives an organisation a competitive advantage, the only that is sustainable is what it knows, how it uses what it knows and how fast it can know something new. In one word this only thing are the “core competencies”, or Intellectual Capital. But if most agree on the key role of knowledge as a source of competitive advantage, very few know how to manage knowledge that produces value or Intellectual Capital in an efficient way. The enterprise competitiveness factors is a framework that allows to evaluate the core competencies or intellectual capital within each specific factor. For that purpose we use the three major elements of intellectual capital identified in the literature. The first is Human Capital. Human Capital is defined as the force behind the human intellect and innovation of the firm. The second Intellectual Capital element is Structural Capital which allows for the creation of wealth through the transformation of the work of Human Capital. It is defined as the structural ability of the firm to utilize human intellect and innovation to create wealth. The third major element of Intellectual Capital is Customer Capital. It is defined as the ability of the firm to interact positively with business community members to stimulate the potential for wealth creation by enhancing Human and Structural Capital. The model of company competitiveness explains how sustainable competitive advantages are achieved in final products and services through the firm value chain activities. The starting hypothesis of the paper is that the intellectual capital, supporting the creation of positive economic added value, can be taken as the basis for achievement competitive advantages of an enterprise. The IC is measured as a difference between the market and bookkeeping value of the firm. Therefore, intellectual capital that is participating to the creation of positive economic added value. It should be stressed, though, that intellectual capital is non-bookkeeping items in the balance sheet. From the standpoint of the paper intellectual capital should be added to the traditional balance sheets. The goal of the paper is to show that more efficient use of intellectual capital contributes to the achievement of competitive advantages of an enterprise in transition and greater market added value of the firm.

core competences; sustanable competitive advantage; enterprise in transition; intellectual capital

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