Intellectual Capital as a Factor Forming Economic Security of Enterprises in Society 5.0

Mishchuk Ievgeniia,Riabykina Yekateryna,Yastremska Natalia,Tkachenko Sergii,Hamova Oksana,Ushenko Natalya

doi:10.37394/23207.2022.19.25

Abstract

The article shows that in Society 5. 0 intellectual capital is a key factor forming economic security of enterprises. The priority of structural components of intellectual capital as a factor of enterprise economic security formation is determined. Features of mining and beneficiation enterprises operation are considered while structuring intellectual capital. The resulting criteria for assessing efficiency of the intellectual capital use during economic security formation are established. Three key groups of competences of personnel necessary for economic security formation are identified. It is substantiated that organic connection of intellectual capital structural elements will enable forming economic security of the enterprise during the current period and providing economic security parameters in the long term. Based on the data obtained from mining and beneficiation enterprises, it is demonstrated that this will be possible due to growth of an innovative level of technological processes which will contribute to product quality enhancement that, in turn, will expand the client base.

Highlights

Features of mining and beneficiation enterprises operation are considered while structuring intellectual capital
With the onset of economic instability caused by the Covid-19 pandemic, the threats associated with human capital have risen from the eleventh to the first position in the list of threats to long-term growth
In Ukraine, 59% of enterprise managers prefer investing in human capital development but not in acquisition of new technologies, while worldwide the ratio is radically different: 67% prefer investing in acquisition of new technologies, 33% - in development of their personnel’s skills and abilities [1]

Summary

Introduction

With the onset of economic instability caused by the Covid-19 pandemic, the threats associated with human capital have risen from the eleventh to the first position in the list of threats to long-term growth. Society 5.0 is a new socio-economic paradigm within which a consensus of integrating social and environmental priorities into technological innovations is distinguished [8]. The degree of such integration determines the external environment and the environment of the enterprise’s operation and impacts the processes of its economic security formation. In this regard, every enterprise that strives for sustainable development in the long term should first consider development of modern analytics, big data technologies, artificial intelligence, implementation of robotics in every type of activities, automation of business processes and use of the Internet of Things [9]. Due to its significance in terms of practical value for managers, owners of enterprises and society as a whole, this problem requires solution and is dealt with in this article

Problem Formulation

Prioritization of Intellectual Capital Components for Economic Security Formation

Determination of Personnel’s

Methodical Approach to Determining

Findings

Conclusion