Abstract

Intellectual capital management (ICM) attempts to grow, extract, and measure a firm's intangible assets through assessments of systems, processes, procedures, and other organizational wealth not typically quantified under standard management and accounting practices. ICM is based on the assumption that value is created through the integration of human, organizational, and customer capital. Human capital refers to employees' know‐how, capabilities, skills, and expertise. Organizational capital includes the capabilities developed to meet market requirements such as patents, processes, management systems, and organizational structures. Customer (relational) capital includes external connections such as customer loyalty, goodwill, and supplier relations.

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