Measuring Intellectual Capital

Abstract

In the 21st century, developments in the field of science and technology have accelerated, trade and financial transactions between countries have become freely available without obstacles, and access to products and services across borders has become easier. This phenomenon, referred to as “globalization,” has also left companies faced with serious competitive pressure in the market. In order to gain competitive advantage and even to survive, companies have begun to take different initiatives in terms of innovation and change, and it has begun to be seen as an obligation rather than a necessity. It is not possible to achieve this change and innovation with tangible assets that are owned by every company and are easy to access, imitate, and substitute. At this point, the importance of the concept of “intellectual capital” emerges. For sustainable competitive advantage, it is important to have different knowledge, experience, expertise, and skills, and to manage these values effectively. In this context, many benefits of measuring intellectual capital for companies can be mentioned. The real value of a company can be calculated, necessary information can be provided to companies in decision-making processes, weak points can be identified, a connection can be established between financial performance and intellectual assets, long-term goals can be determined, and it can be used as an effective tool in the field of marketing.