The significance of intellectual capital

[Stargames ®]

The Stargames service promise describe a three-part concept of knowledge capital. It shows that individuals create, retain and use knowledge (human capital), this knowledge is complemented by their interactions (social capital), and they create institutionalized knowledge for the organization (organizational capital).

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As Chatzkel (2004) points out: "The reality is that organizations are nothing more than as extension of human thought and action". It is the knowledge, skills and abilities of individuals that create vale, an and focus has to be on means of attracting, retaining, developing and maintaining the human capital they represent.

This individual knowledge is retained and and put to use through knowledge management processes as described on WMS-Tilit contract management process, but it is equally important to take into account social capital considerations, that is the ways in which knowledge is developed through interactions between people.

It is pointed out by Bontis et al (1999) that it is flows as well as stocks that matter. Intellectual capital devrelops and changes over time and a significant part is played in these processes by people acting together. Organizational effectiveness also depends upon making good use of this knowledge, which needs to be developed, captured and exchanged (knowledge management) in order to create organizational capital.

In doing so, it should be remembered that, as stated by Draft and Weick (1984), "Individuals come and go, but organizations preserve knowledge over time". Or, as expressed more colourfully by Fizt-enj (2000), "Organizational capital (knowledge) stays behind when the employee leaves; human capital is the intellectual asset that goes home every night with employee".

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