Intellectual Capital- The Game Changer of Contemporary Business: NextGen Thinking for Stakeholders

Abstract

Purpose– The aim of this paper is to reflect on how intellectual capital (IC) as a strategic, mission-critical resource could be pragmatically, yet powerfully leveraged as a value-driven process by contemporary organizations.

Design/methodology/approach– This article is based on the authors' reflections of the past and vision for the future to identify and tread on paths useful for theoretical and practical relevance from the IC research perspective.  Referred published studies and seminal works were analyzed and then systematized.

Findings– IC literature is rich in theory matured over the past two decades. The work of scholars, practitioners and thought leaders need to be integrated to pave the way for an empowered, maximization approach to reap the benefits of IC by all stakeholders through the prism of current research insights

Practical implications–It is hoped that the implication of this paper for IC research and practice is to evolve a leading edge approach.

Originality/value– The paper is a first attempt to present "an optimization IC model of business” It provides a deeper understanding of how companies can create and realize value for impact. It is also the first study that uses the IC optimization model of the "input-output-outcome-impact-value of impact” genre using the most popular contemporary IC models in theory and practice with focus on the need of the hour, that is, leveraging critical and per formative research literature.

Paper type -Conceptual paper