Intellectual capital (IC) has been identified as a set of intangibles (resources, capabilities and competences)
that drives organizational performance and value creation [19] [2] [3]. This suggests causal relationships
between IC and organizational value creation [14]. Unfortunately, many organizations focus on primarily or
exclusively on the stocks or resources because they are relatively easy to measure. According to research
results in the field, managers must also, focus on measuring the transformation process or flow, which is more
complicated but also, more useful: there is no correlation between how much you know and how good you are
at transforming knowledge into something useful for somebody else [8] [15]. Many authors have explained the
importance of IC comparing it to technological advances. In this context, IC is an intangible asset that has
supplanted industrial machinery and natural resources, and it is today considered one of the most valuable
factors for the creation of wealth being and at the same time source and final product. According to Ordóñez de
Pablos, IC is the difference between the company’s market value and its book value [17]. Another definition
given by Bukowitz and Williams present IC in a dynamic way that form nonmaterial assets, which thanks to
flows of knowledge can generate a potential to create goods [6].
Intellectual capital (IC) has been identified as a set of intangibles (resources, capabilities and competences)that drives organizational performance and value creation [19] [2] [3]. This suggests causal relationshipsbetween IC and organizational value creation [14]. Unfortunately, many organizations focus on primarily orexclusively on the stocks or resources because they are relatively easy to measure. According to researchresults in the field, managers must also, focus on measuring the transformation process or flow, which is morecomplicated but also, more useful: there is no correlation between how much you know and how good you areat transforming knowledge into something useful for somebody else [8] [15]. Many authors have explained theimportance of IC comparing it to technological advances. In this context, IC is an intangible asset that hassupplanted industrial machinery and natural resources, and it is today considered one of the most valuablefactors for the creation of wealth being and at the same time source and final product. According to Ordóñez dePablos, IC is the difference between the company’s market value and its book value [17]. Another definitiongiven by Bukowitz and Williams present IC in a dynamic way that form nonmaterial assets, which thanks toflows of knowledge can generate a potential to create goods [6].
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