engleski

The impact of intellectual capital on firm's development

In today's global economy where physical presence is no longer important, and where everybody can sell and buy no matter where they are, effective communication and interaction is a key feature of continuous development. The new rules have significantly changed the way of defining enterprise - the issue of what a company owns has evolved into what the company knows and can do. Companies nowadays are successful if they have realized that investments in intellectual capital and synergy effects based on creativity, innovation and competence of its employees are the drivers of long- term growth. Business and human life in general changes fundamentally with regard to innovation process. Every innovation works in the micro and macro environment, and they are based on developing an intellectual capital. It can be called as a driver for creating new knowledge or improving existing, with a direct impact on the business of one company, and indirectly impacting the environment in which the company exists, constantly increasing the amount of world knowledge. The main purpose of this paper is to point out the importance of developing an intellectual capital in a firm, as an asset that comprises the same importance as every other type of firm’s capital for long-term business growth.

intellectual capital ; long-term growth ; innovation ; firm’s development

nije evidentirano