| Title | Intellectual Capital Management and Sustainable Competitive Advantage: A Proposed Model for Malaysian PLCs |
|---|---|
| ID_Doc | 70747 |
| Authors | Halid, S; Choo, HC; Salleh, K |
| Title | Intellectual Capital Management and Sustainable Competitive Advantage: A Proposed Model for Malaysian PLCs |
| Year | 2015 |
| Published | |
| Abstract | In the knowledge-based economy, many companies' endeavour is to create long-term value. Intellectual capital management is a tool used by companies to manage their intangible resources such as knowledge, innovation and intellectual property. In managing their companies, today's managers engage in activities which help them to develop the intangible resources such as converting knowledge into competencies. Successful deployment of intellectual resources not only offers admission to multiple market opportunities to the companies, but also improves business performance and share price. The management of intellectual capital is intimately connected to the management of knowledge-based assets in the pursuit of competitive advantage. The notion of competitive advantage reflects the imperative that businesses must now embrace a future orientation. Though it is recognised that intellectual capital management promotes sustainable competitive advantage, intellectual capital management in Asian countries including Malaysia is not as rigorous as countries in the West. In the management of intellectual capital, companies attempt to grow their stock of intellectual capital ( intangible resources) if they wish to compete successfully in the newly emerging knowledge economy. However, it is still unclear to the top management as to which types of intangible resources are valuable and need to be managed in order to create value and attain a sustainable competitive advantage. Basically, this paper critically reviews some of the intellectual capital management models to illustrate the various facets an organisation must consider when managing intellectual capital. Simultaneously, the component elements of intellectual capital are also identified, defined and discussed. It then proposed a model for Malaysian companies to manage their intellectual capital to attain a sustainable competitive advantage. Only when intellectual capital management is present, the intellectual components of the organisation can be tapped effectively. Furthermore, the proper management of intellectual capital will help the organisations realise the defined objectives in all aspects of organisational performance. |
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