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BASIC APPROACHES TO THE FORMATION OF INTELLECTUAL CAPITAL: ITS CONTENT AND ROLE IN INNOVATIVE DEVELOPMENT OF ENTERPRISES

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Author(s): K. Kovtunenko

Journal: Economics of Development
ISSN 1683-1942

Volume: 67;
Issue: 3;
Start page: 59;
Date: 2013;
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Keywords: intellectual capital | intellectual resources | intellectual capacity | innovative development of an enterprise

ABSTRACT
Innovation activity is essential for the development of any economic sector. The formation of intellectual capital is the basis of innovative activity and the result of its efficient use is commercialization in order to receive profit. The increasing role of intellectual capital as a factor of innovation development makes it one of the priority objects of management. Thus the problems of intellectual capital management are becoming more relevant to the subjects of all economic activities and the state, because the level of intellectual capital contributes to their competitive position and advantages.The purpose of the article is to define the features of the formation and the modern interpretation of intellectual capital as a factor of innovative development based on the works of Ukrainian and foreign scientists. The existing definitions of the essence of the intellectual capital in the narrow and broad sense were analyzed. In a narrow sense, the intellectual capital is the assets of the company that is a combination of knowledge of its staff and the result of the implementation of this knowledge in other intangible assets: internal structures, client capital. In a broad sense, the intellectual capital is a vast collection of all assets of the enterprise, including those that are not the result of intellectual activity.The key approaches defining the category of "intellectual capital" were highlighted: the structural approach, which is based on consideration of intellectual capital as an aggregate components and the result approach based on the consideration of intellectual capital as a result, the ability to improve the characteristics of an enterprise, increase its competitive advantages. The intellectual capital components are determined: intellectual resources, intellectual capacity, intellectual capital. Through the connection of intellectual capital with intellectual potential the role of intellectual capital in the innovation process was determined. Based on the research the category of "intellectual capital" was formed. A structural and logical scheme of forming intellectual capital, which suggests the framework for further study of enterprise innovation development was offered.
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