Social capital, intellectual capital, and the organizational advantage janine nahapiet templeton college, university of oxford sumantra ghoshal london business school scholars of the theory of the firm have begun to emphasize the sources and conditions of what has been described as the organizational advantage, rather than focus on. This includes anything that isnt physical that adds to the productive capacity of a firm. Pdf critical issues of intellectual capital theory in transitional. Bourdieu on social capital theory of capital pierre bourdieu 1930 2002 was a french sociologist and public intellectual who was primarily concerned with the dynamics of power in society.
Consequently, the impact of intellectual capital on organizational performance is high, allowing the validation of the assumed association in 201 luminita maria gogan et al. Houston has relied heavily on intellectual capital to leverage their makeover. Research has shown that successful relations in the company and with its stakeholders drive success. A firms ic is made up of human, social and structural capital innovation and process capital edvinsson and malone 1997. Implementing intellectual capital processes mhedhbi i.
In this article, intellectual capital is seen as complementary capacities of competence and commitment. The relationship of nursing intellectual capital to the quality of patient care and the recruitment and retention of registered nurses christine l. Relational capital intellectual capital management. The theory of intellectual capital has emerged in the past decade in response to the growing realization of the importance of information and knowledge because ntellectual capital was first. A theory of intellectual capital louise harris, 2000. Lately he has been able to use this method to measure the efficiency of regions in. The term intellectual capital collectively refers to all resources that determine the value of an organization, and the competitiveness of an enterprise. Karanja ngugi department of accounting and finance kenyatta university kenya citation. It is the sum of everything everybody in a company knows that gives it a competitive edge.
This paper presents the operationalization of concepts in the nursing intellectual capital theory and the results of a methodological study aimed to empirically validate the concepts. Capital a factor of production that is not wanted for itself but for its ability to help in producing other goods 4. With globalization, intangible assets such as human capital, intellectual. A critical approach on definitions and categorization diana gioacasi abstract. Intellectual capital key questions and answers found in the literature source. The theory proposes nursing human capital, nurses knowledge, skills and experience, is related to the quality of. The theory also proposes that two concepts within the work environment, nurse staffing and employer support continue reading.
First, intellectual capital is a firms only appreciable asset. Genesis of the theory of intellectual capital and its. The origin of human capital goes back to the emergence of classical economics in 1776, and thereafter developed a scientific theory fitzsimons, 1999. Intellectual capital is the intangible value of a business. This course covers the broad agenda of using intellectual capital for competitive advantage. Derived from intellectual capital theory, which is grounded in the fields of economics and accounting, the nursing intellectual capital theory conceptualizes the stocks of. In terms of the organization, the human capital theory and human resource management raises a number of issues, namely. It will provide several definitions for relational capital, outline the different perspectives from the various stakeholders and illustrate the academic theory with several real life examples. Intellectual capital is a set of non financial,non physical resources that procures a copmpetitive advantage for the enterprise jussupova, mariethoz and probst, 2007. Bourdieu on social capital theory of capital social.
The nursing intellectual capital theory defines nursing human capital as the nursing knowledge that resides within the nursing staff. The resourcebased view rbv of a firm has been developed for over 30 years. Components of intellectual capital consist of human capital, structural capital and external customer capital. If managers manage knowledge effectively, their organization will enhance their intellectual capital. It introduces a framework for understanding the contribution of nursing knowledge within an organization. The nursing intellectual capital theory conceptualizes nursing knowledges influence on patient and organizational outcomes. Covell doctor of philosophy lawrence bloomberg faculty of nursing university of toronto 2011 abstract to ensure quality patient care hospitals invest in nursing intellectual capital by allocating. Journal of intellectual capital capital intelectual. Intellectual capital theory of entrepreneurship dr. Lepak and snell, 1999 and utility theory stigler, 1950a, 1950b.
Ces working papers volume vi, issue 4 57 intellectual capital. The economic theory foundation of hrd supports the discussion of both individual and corporate models of investments in human capital, and the intellectual capital architecture model. This knowledge capital is commonly referred to as a firms intellectual capital ic. The relation between resource based view and intellectual capital theory. Social capital, intellectual capital, and the organizational advantage janine nahapiet templeton college, university of oxford sumantra ghoshal london business school scholars of the theory of the firm have begun to emphasize the sources and conditions. This briefing will follow the approach adopted by the meritum guidelines for managing and reporting on intangibles and will use intangibles and intellectual capital interchangeably. A theory of intellectual capital louise harris, 2000 sage journals. This study responds to calls for critical investigations of ic reporting utilising goebels 2015a ic measuring approach to investigate the role of ic value and mispricing for ic reporting. Intellectual capital key questions and answers found in the literature. To better understand this process, this article serves as an introduction to intellectual capital theory and research.
Intellectual capital and business performance 2 extensively in a variety of academic journals and has completed three books. Intellectual capital the body of knowledge, which is available to an organization through its employees, as well as in the form of methodologies, patents, architectures and communications. Pdf nursing intellectual capital theory semantic scholar. Operationalization and empirical validation of concepts abstract aims. General issues one of the most important ideas in labor economics is to think of the set of marketable skills of workers as a form of capital in which workers make a variety of investments.
The nursing intellectual capital theory proposes the stocks of nursing knowledge within an organization are embedded in two concepts, nursing human capital and nursing structural capital. The purpose of this paper is application of intellectual capital ic approach for developing a strategic management model as a means of. Based on theoretically and empirically robust human capital theory, we define intellectual capital as individuals complementary capacity to generate added value and thus create wealth. The principles of research synthesis were used to provide empirical support for the propositions of the theory. A bibliometric analysis of research on intellectual capital in healthcare. The theory of intellectual capital has emerged in the past decade in response to the growing realization of the importance of information and knowledge because ntellectual capital was first conceptualized during the same time period that the ideas of knowledge management and human capital became an important part of organizational discussion. Nursing intellectual capital theory is a middlerange theory as it is composed of a limited number of concepts and propositions which can be measured and tested in different contexts fawcett, 1998. In search of an intellectual capital comprehensive theory. Nursing intellectual capital theory 2 nursing intellectual capital theory.
The purpose of this paper is to investigate the drivers for voluntary intellectual capital ic reporting based on agency theory. Intellectual capital research centre developed the ic measurement method of the value added intellectual coefficient vaic tm, which measured the effectiveness of key resources in the enterprise. Understandably, the term intellectual capital from a human resources perspective is not easily translatable into financial terms. The impact of intellectual capital on organizational.
Intellectual capital and business performance in the. European journal of business management, 21, 161180. Intellectual capital and its relationship with universities. He is a recognised as a leading professional speaker and consultant in the field of intellectual capital, knowledge management and organisational learning all over the world. After the manifestation of that concept as a theory, schultz 1961 recognized the human capital as one of important factors for a national economic growth in the modern economy. Based on theoretically and empirically robust human capital theory, we define intellectual capital as individuals complementary capacity to. Human capital theory has also been extensively used by and applied at other theories of economics and social sciences and has demonstrated impressive. By continuing to use our website, you are agreeing to our use of cookies. Intellectual capital is the intangible value of a business, covering its people human capital, the value relating to its relationships relational capital, and everything that is left when the employees go home structural capital, of which intellectual property ip is but one component. In the millennium less people will do physical work and more people will do brain work.
Intellectual capital the commitment and competence of workers is embedded in how each employee thinks about and does work and in how an organization creates policies and systems to get work done. It encompasses theoretical and practical knowledge needed for the delivery of care. There is no commonly agreed definition of intangibles the. Drawing on the knowledgebased theory of the firm, the purpose of this paper is to examine the relationship between each facet of intellectual capital, productivity and firms performance and further investigate, heretofore neglected, a mediating effect of productivity in the relationship between each facet of intellectual capital and firms performance. The relationship of nursing intellectual capital to the. A study in economic theory and policy, the economic journal, volume 86, issue 342, 1 june 1976, pages we use cookies to enhance your experience on our website. The following are the primary types of intellectual capital. Intellectual capital has become the leading resource for creating economic value and there are an important number of publications focused on this area of research. Drivers for voluntary intellectual capital reporting based.
The theory of intellectual capital has emerged in the past decade in response to the growing realization of the importance of. During this time, it has been both widely taken up and subjected to criticism. Nursing intellectual capital theory the nursing intellectual capital theory was developed by using the strategies of theory derivation outlined by walker and avant 2010. Definitions in 1997, thomas stewart published intellectual capital and wrote, intellectual. Intellectual property is the value of a company or organizations employee knowledge, skills, business training or any proprietary. The measurement of intellectual capital by vaic method. This perspective is important in understanding both investment incentives, and the structure of wages and earnings. This theory sees the company not through its activities on the market of the product or service, but like a single combination of tangible and intangible resources. His work on the sociology of culture continues to be highly influential, including his theories of social stratification that deals with status and. Intellectual capital theory of entrepreneurship kenyatta university. The emphasis on human capital in organisations reflects the view that market value depends less on tangible resources. At the end of the 20th century, the world economy started to undergo certain changes that have a decisive impact on aspects such as the generation of wealth and economic growth andriessen. This research describes the process of intangible value accumulation in cultural and creative industries ccis using the theory of intellectual capital, which consists of human, structural, and social capitals, and the concepts of knowledge management. Intellectual capital is a set of non financial,non physical resources that procures a copmpetitive advantage for the enterprise jussupova.
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