IMPACT OF INTELLECTUAL CAPITAL ON KNOWLEDGE MANAGEMENT OF CONSTRUCTION ENTERPRISE

Abstract

The presence of an efficient system of managing knowledge and intellectual capital (that complement each other) becomes one of the major factors in the operational adaptation of the enterprise to the changes of the environment, in the programming of these changes, in ensuring high competitiveness and sustainable development. Knowledge management at the tactical level must be derived and subordinated to the strategic level that is to the vision of the structural construction of the enterprise on the basis of knowledge. It has been proved that knowledge management is a concept of strategic enterprise management that is focused on increasing the value of an enterprise, based on the skillful acquisition and use of knowledge and the creation of intellectual capital. Intellectual capital includes components created on the basis of management of knowledge resources (assets) that can become the basis for obtaining the benefits, which in the strategic perspective facilitate the increase in the enterprise value. An important part of this capital is the key competence that relates to the potential operational opportunities created as a result of organizational learning. Intellectual capital is based on knowledge, although it includes other valuable components, such as commercial brand or customer relationships. In the proposed approach, intellectual capital should include certain components such as human capital, customer capital, market capital and organizational capital, as well as the interconnections between these components. The division of intellectual capital into market and organizational (the components of structural capital) was conducted in order to focus knowledge management on the processes that are the most important for the enterprise. Improving key competencies and managing customer relationships are explained as two of the most important business processes that affect its creation. Knowledge management and organizational learning are considered to be the basis for creating intellectual capital. Improving key competencies and managing customer relationships are explained as two of the most important business processes that affect its creation.