engleski

Four-Component Model of Intellectual Capital and Its Impact on Process and Product Innovations,

Today in an extremely fierce and global competition, companies need to innovate to survive and create at least a temporary competitive advantage. This work researches literature on creativity, innovation management and intellectual capital literature and by doing so proposes a robust model of intellectual capital (IC) with four components that can possibly explain constituents on innovation and give prescriptions on how to enhance innovation. Apart from current literature that researches intellectual capital as an internal driver, our model includes external social relationships. The article empirically tests four-component model of Intellectual capital. The model is tested using Structural equation modelling on a large sample of 890 companies. The variables in the survey are drawn from previous literature therefore ensuring content validity. The results show a robust confirmation of the model. This proves the necessity of the fourth component – External social capital as an important component in Intellectual capital and its influence on innovation. The research also clearly shows how each component of intellectual capital affects product and process innovations. This works adds value to the work of Subramaniam and Youndt (2005), but who tested only a three-component IC model.

Intellectual capital; innovation; product and process innovations; GMRG survey

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