Does cultural economics affect country’s competitiveness?

Abstract

Inside the modern business context, the subject of intellectual capital (IC), knowledge management (KM), and organizational innovativeness (OI) comes to fore. This era which is increasingly characterized by speedy turns and merely at cutthroat competition, innovation is the cornerstone for organizational resilience and development. Intellectual capital, which includes expertise, information repositories, and social networks, is composed of intangible assets, and it serves as the main factor in the environment that encourages innovation and adaptation. The most significant factor in success of the business and prosperity is collection and efficient utilization of intellectual capital. Indeed, such intellectual assets-innovation linkages are very complex, involved many issues like organizational ethos, leadership character, and strategic management approaches. This study hopes to disentangle the mediation of knowledge management which plays a key role in the bond between intellectual capital and organizational innovativeness. It customarily does that by decomposing the effect of Human Capital, Social Capital, and Structural Capital on innovation as well as measuring their overall impact. The study engages in a comprehensive review of already existent literature and empirical analysis in order to provide a detailed look into the process of intellectual capital to innovative outputs through of knowledge management frameworks. Fundamental insights of the regression examination include moderate to robust predictability quotient with significant contributions coming from Human Capital Substance, Social Substance and Structurally. Albeit that, this study provides insights into knowledge management as an underlying factor of innovation that can be realized through close attention to important knowledge management techniques. In a nutshell, the content of the inquiry accentuates the primordial role of the intellectual capital and knowledge management in the creation of the organizational innovativeness. Through evaluation of and utilizing of these subtleties, companies can develop their innovation environments, boost their competitive edge and attain sustained success in the dynamic and unstable business ecosphere. The research work provides practical advice for managers who are trying to improve their intellectual capital stocks and realize their long-term innovation capacity and beyond that offers subject matter for future studies in the field of intellectual properties, knowledge managing concepts and organizational performance.

Keyword : Intellectual capital, Knowledge management, Organizational success, Strategic management, Adaptability.