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Intellectual Capital (Part 1)
Concepts and metaphors
From an epistemological perspective, Intellectual Capital (IC) is said to be knowledge about knowledge. However, knowledge is tacit in nature (Nonaka, 1991; Saint-Onge, 1996). The challenge is, therefore, to find a common language with which the discussion of IC can be constructed among participants, stakeholders and businesses. As in many instances of daily life, metaphors are used to explain difficult concepts.
The metaphors of capital and organism are of particular interest when conceptualising IC. It has been suggested that knowledge may be considered to be a resource and can be viewed as an asset. Similar to interest-bearing assets, knowledge is sometimes seen as carrying some of the characteristics of capital that may, for example, be “valued, measured, invested or owned” (Andriessen, 2006, p. 103). Indeed, intellects or being intellectual may be viewed as a deliberate association with human beings.
For us to begin to understand IC, intellectual can be viewed asreferring to the employees who encapsulate the company’s knowledge. The conceptualisation of IC may then be broadened to include all value creation activities performed by humans, that is, the intelligent living organism of employees, directors and stakeholders of the company. In particular, IC practitioners have been advocating the inclusion of human capital and structure capital as part of IC (Andriessen, 2006; Bontis, 2004; Edvinsson, 1997; Guthrie, Petty, & Johanson, 2001). There is no shortage of conceptual definitions of IC. However, a working definition is needed, and we shall see in Part 2 of this discussion………
Reference:
Andriessen, D. (2006). On the metaphorical nature of intellectual capital: a textual analysis. Journal of Intellectual Capital, 7(1), 93-110.
Bontis, N. (2004). National Intellectual Capital Index: A United Nations initiative for the Arab region. Journal of Intellectual Capital, 5(1), 27-39.
Edvinsson, L. (1997). Developing Intellectual Capital at Skandia. Long Range Planning, 30(3), 366-373.
Guthrie, J., Petty, R., & Johanson, U. (2001). Sunrise in the knowledge economy: Managing, measuring and reporting intellectual capital. Accounting, Auditing & Accountability Journal, 14(4), 365-384.
Nonaka, I. (1991). The Knowledge-Creating Company. Harvard Business Review, November-December 1991, 96-104.
Saint-Onge, H. (1996). Tacit knowledge: The key to the strategic alignment of intellectual capital. Strategy & Leadership, 24(2), 1-10.
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