Intellectual Capital : Measurement Model and Application
There is the widespread recognition of the importance of intellectual capital (IC) as a major source of competitive advantage for any organisation operating in today‘s knowledge economy (KE). In particular, universities are recognised as being essential to the new economy as the prime producers and transmitters of knowledge in a society. Therefore, it is not surprising that the management and measurement of IC by universities is becoming an increasingly important issue in the knowledge management (KM) research and practice. It is argued that universities need to use the IC model as a tool to aid them in meeting new management challenges and diffuse their intangible resources and activities to their stakeholders and society at large. This study addresses this need by developing a specific model for measuring intellectual capital of universities and by applying it in the specific context of a new private university in Sarajevo, Bosnia and Herzegovina. It is hoped that the use of this model can help the university in reaching its scientific and educational goals.