Role of Intellectual Capital in Creating Enterprise Strategy

Abstract

Recently the role of intellectual is becoming very important inside small and medium enterprises, the main reason is because of their influence in formulation and implementation of strategies in these enterprises. This research will try to examine the links between intellectual capital of entrepreneurs and strategies they use to discover business opportunities. This research will try to find the link according to the already made research around the world, and also there is an empirical research that is made in a forty five enterprises in different cities in Republic of Macedonia. The aim of the research is to emphasize the role of intellectual capital in formulation and implementation of strategies through theoretical and practical research that will explain in a better way the link or the relationship between intellectual capital, strategy and entrepreneurship. This will help entrepreneur to better understand and use intellectual capital in strategy formulation of enterprises by investing in intellectual capital in order to formulate and better implement the strategies in enterprises. Through better use and investing in intellectual capital entrepreneurs and their workers will be able to discover opportunities for new business and enhance their competitive advantage in a market.