Abstrakt: |
Intellectual capital is considered as one of the vital and most crucial strategic assets for success and sustainability of organizations in the competitive business environment. In today's fast changing society, knowledge has become one of the most meaningful resources. In accordance with this, the traditional factors of production have not disappeared, but have become secondary. It is much more difficult to see and count ideas and expertise, than to count money or products. Nowadays, in strategic perspective for the companies, knowledge and intellectual capital are used to create and enhance organizational value, and the success of an organization depends on its ability to manage these scarce resources. Therefore, the knowledge of individuals has inevitably become as important as other financial and physical assets of the organizations. This paper examines the relationship between intellectual capital and knowledge management and their roles in creating organizational value. The first condition of building global knowledge society and increasing organizational value is building knowledge organizations and within them, building such culture which will support these intentions, hence changing it into knowledge culture. In particular, it means creating such environment and conditions that will enable people doing a job they are skilled for, they enjoy and, at the same time, the job that satisfies them, so they can achieve results above standard. When an organization has qualified people at all working positions, the individuals, improving themselves and their working capacity, are able to enhance the efficiency of all the organization which itself, can make a profit for the organization. Effective knowledge management requires knowledge, contributing for the key processes development and organization´s activities, to be available for the right people at immediate practical use in time. Thus, knowledge management represents a systematic approach towards searching and using the knowledge on behalf of creating values. [ABSTRACT FROM AUTHOR] |