Definition of intellectual capital
A pioneer in the Intellectual Capital was Karl-Eric Sveiby[Sveiby, K., 1989, 1997, 2001], in The Invisible Balance Sheet. It’s a key work in the development of thinking about Intellectual Capital. Then Intellectual Capital became popular in the early and mid 1990s.
In the early and mid 1990s there was an increasing awareness in the business community that knowledge was an important organizational resource that needed to be nurtured, sustained, and if possible accounted. They realized that internal communication and information sharing was often lacking. Intellectual Capital is a token of the recognition of the importance of information and knowledge. Peter Drucker, put it:
We now know that the source of wealth is something, specifically human knowledge. If we apply knowledge to tasks that we obviously know how to do, we call it productivity. If we apply knowledge to tasks that are new and different, we call it innovation. Only knowledge allows us to achieve those two goals.
Intellectual Capital was first defined as having two major components, information and knowledge capital, and structural capital. Information and knowledge capital was the organization’s information and knowledge in informal, formal, structured, and also unstructured. The structural capital was the mechanisms in place to take advantage of the information and knowledge capital, the mechanisms to capture, store, retrieve, and communicate that information and knowledge.
Source: SHARE OF KNOWLEDGE
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