intellectual capital and organizational entrepreneurship
TRANSCRIPT
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Intellectual Capital and Organizational Entrepreneurship
1-Saeed Sayadi
6 2- Zahra Shokuh Saljughi
7 3- Zahra Bahraminejad
8
Abstract:
Increasing changes in different environmental arenas has faced the organizations with various
challenges. And, with the fast international changes and the transition from the industrial
society to the information society, entrepreneurship and intellectual capital management and
measurement will be among the new issues for the acceleration of sustainable development
and growth process and economic wellbeing. This is because in the current world of abundant
changes the organizations can be successful that are capable of making rational connections
between limited resources and managerial and entrepreneurial capabilities of its human
resources. And what is required more than ever under such complicated conditions is to
consider the main factor; that is, entrepreneurship. And, the significance of the issue in this
arena has led the organizations toward using one of its most important resources – knowledge
and intellectual capital. Today, the role of entrepreneurship in countries’ economic
development is so critical that it can be taken as the motor of economic development. And, all
countries try to develop entrepreneurship in their lands because knowledge management
makes values by transforming human capitals into organized intellectual assets.
Keywords: ENTREPRENEURSHIP, INTELLECTUAL CAPITAL, KNOWLEDGE
MANAGEMENT, ORGANIZATIONAL ENTREPRENEURSHIP
Introduction:
Entrepreneurs and entrepreneurship were first considered by economists and nearly all
economic schools somehow described the conception of entrepreneurship in their economic
theories (Ahmad pour Dariani, 1385 p 82). Entrepreneurship should be considered as most
required in the present century as known as the information age. The main consequences
related are globalization, learning new technologies, rapid developments in trade and
competition in the business field (Macklin, 2004). Nowadays, new organizations have created
new jobs and attracted many people and that is why many people are really interested in
establishing new companies and also entrepreneurship in such organizations (Ali Ahmadi,
6 Faculty member (Department of Management) Islamic Azad University, Kerman Branch, Iran Email:
7 PhD student of Human Resources Management, Islamic Azad University, Kerman Branch, Iran Email:
8 PhD student of Human Resources Management, Islamic Azad University, Kerman Branch, Iran Email:
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1382, p 1). Besides, the development of entrepreneurship in such a fast-changing world is
considered being as one of the most essential economic, social and political needs, especially
in our country in which heavy economic reliance on per capita oil, the necessity to invest in
various sectors, tendency to adjust staffing in state organizations, unemployment, the need for
employment and the economic sanctions imposed by the superpowers are the main problems
we are dealing with. In this context, the development, promotion and the education required to
create new jobs and new patterns of services has become an inevitable necessity (Ahmad pour
et al 1388). Other challenges the organizations are now dealing with are the fast-changing age.
Naturally, those organizations able to take advantage of the opportunities available through
best applying the management tools and new technologies. The intellectual capital and
innovation are now considered being as the key tools in this area going back to their place in
organizations (Zanjirdar et al, 1388, p 27). The intellectual capital has been as the main asset
since the early establishment of economic institutions. Recently, it has been concerned a lot as
the most valuable factor for companies by scientific communities and high-level managers
(Alam Tabrizi et al, 1388, p 27). Although the fast-changing age was the main currents of
human life at the beginning of the Third Millennium, the entrepreneurship process as the basis
of change and development will be of great role in such areas (Saeedi kia, 1388, p1).
The studies best show the entrepreneurship is a symbol of success in business affairs and the
entrepreneurs as pioneers in all business achievements in the society. In fact, the entrepreneurs
are evaluated based on their ability to apply the chances available and their capability in
innovation and achievement. Besides, the entrepreneurs are of crucial role in view of
management, innovation, efficiency, creating job opportunities, competition and establishing
new companies. So, it is essentially required for entrepreneurship revolution to happen. Such
a revolution is more important than industrial one in current age (Imani et al, 1388, p11). Most
organization now realized their success is mainly due to their employees’ knowledge and
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expertise not their physical capabilities. They found out their knowledge is the main asset they
are essentially required to manage them as best (Dergi et al, 1388 p 1). They also consider the
intellectual capital as a key factor for knowledge-based economy. So, its efficient
management can be most beneficial in competition fields (Matos et al, 2010, p235). The
business function mainly requires active management in intellectual capital area and it can be
considered as a key source to achieve lasting efficiency (Barzegar, 1388, p56).
Institutional entrepreneurship
The current age is known as the entrepreneurship age and we always hear in media about the
entrepreneurs and those who made great developments in their professions (Dees, 2002, p17).
The entrepreneurship is a complex process with many factors involved in its development and
function. In the past, it was mainly based on financial sources and the experience but the
innovation based on entrepreneurship knowledge developed in the economy in early 1990
(Talebi & Zaree Yekta, 1387, p15). Harbinsoun and Marbenz think of entrepreneurship as the
basis of management. They strongly believe the entrepreneur is the one able to create a
condition to which other elements can achieve their goals while doing their best. Libshtain
thinks of entrepreneur as the one achieving success through avoiding inefficiencies others
have. The organizational entrepreneurship is one of the branches of entrepreneurship which
has great role in the success of the organizations. It means developing the opportunities inside
the organizations through merging new sources. The organizational entrepreneurship can best
improve the innovation inside a traditional organization. Nowadays, most famous
organizations consider the entrepreneurship as a way to take advantage of competition fields
(Kazemi et al, 1390, p79). It can also improve the company assets in dynamic markets. The
organizational entrepreneurship paves the way for various groups to cooperate with each other
to produce different and new products and hereby improve the competition position (Shaker,
1378, p 94). In other hand, it can be considered as a way to promote entrepreneurship
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behavior in an organization established earlier to produce new products (Modaressi saryazdi,
1389, p14).The word entrepreneurship has come into the economy and management literature
less than two centuries and experiences many changes like other words. The studies here best
show it has been also reflected in economic theories as the key factor to create economic asset
or value. Disciples of speculation thought of gold and silver businessmen as entrepreneurs.
The naturalists though of the earth as the source of the wealth and considered the agricultural
activists as entrepreneurs. Adam Smith, Jan Batsit and Stewart considered the work force, the
asset and the materials as the key elements of entrepreneurship. Countries such as Italy and
England were a lot concerned on it after resonance. Then Schumpeter, in 1948, as a member
of economic school of German and also as a father of entrepreneurship defined it as follow:the
entrepreneurship is the moving point of economy (Imani et al, 1388, p24). It is an extensive
concept which includes creation, development and the enforcement of the ideas. The
innovation can be a new product, new service, a managerial system and even a new plan
which may lead to increased efficiency of the companies in achieving new capabilities
(Hassan Moradi, 1385, p5). Those organizations with innovative, initiative and risk-taking
capabilities will be considered as entrepreneurs. What makes an organization as an
entrepreneur is its commitment to the innovation of the product, the technology, risk-taking
and being always ahead (Olfat Pour, 1390, p16). The history of entrepreneurship can be
divided into five eras: 1- the first era ( centuries 15 and 16); in this time, those with great
projects such as building churches, castles and military plants were called as entrepreneurs.
The concept of risk was ignored in the definition in that era. 2- The second era (17th century)
which was concurrent to the industrial revolution in Europe. The concept of risk was added to
the definition. The entrepreneurs are businessmen, industry men and also private owners. 3-
The third era (18 and 19th
century). In this era, the entrepreneur was the one who takes risks
and provides the money needs through loan. Besides, the entrepreneur, the money provider
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and the business managers are differentiated in this era. 4- The fourth era (mid-20th
century);
in this era, the innovation product included the creation of a new product, new distribution
system and new organizational structure as the key components added to the definition. 5- The
fifth era (since late 1970); the entrepreneurship was highly concerned in this era due to being
concurrent to new small businesses and economic growth the psychologists, management
science researchers, scientists and sociologists as well as the economists were highly
concerned on entrepreneurship areas (Maleki, 1387,p 48-49).
The key features of entrepreneur organizations
The main features are informality, lack of concentration, vertical and horizontal
communications, non-exclusive information, group works, easy and informal control, active
employees, management support, the appreciation of management from risky employees,
variety in financial support and best applying the employees’ new ideas.
Sorts of entrepreneur organizations
1- Entrepreneur under challenge organization: it is an organization unfamiliar with the
concept of methods and new services and productions. In fact, their culture is against
with any new risks or ideas. The employees somehow accustomed to old principles
and methods and are reluctant to improve them. Such organizations work in a stable
and quiet environment with special state rewards. There will be no change in their
structure. In fact, these organizations are strongly exposed to harm. 2- Random
entrepreneur organization. It is an organization in which the innovative and creative
actions happen randomly. It is because the higher managers think of the entrepreneur
policies as a duty out the competitive strategy of the company and so pay little
attention to them. 3- Interested entrepreneur organization: it is an organization in
which the members are mainly encouraged to attempt on innovative works through the
policies available. The managers and employees in such organizations are less
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interested in basic and radical innovations. 4- Entrepreneur organization: these
organizations are able to create a systematic trend of innovation and creativity. These
organizations are extremely interested in applying enterprise plans or establishing new
economic businesses inside the traditional structure of the company. The innovation
process is most concerned in these organizations and the human source is extensively
supported by the management.
2- Intellectual capital
The human beings are now in an industrial age. It is natural those organizations
applying the intellectual capital to problem-solving and developing the organizational
capacity will better act in competitive areas (Kharghani & saseleh, 1385, p1). The
intellectual capital is now concerned a lot. It is now considered being as the basis of
the state and community wealth because the intellectual capitals are non-competitive
and can be applied concurrently for various affairs unlike the physical capitals
(Dastgir& Mohammadi, 1388, p30). All definitions proposed by the authors are based
on the fact the intellectual capital is the sum of knowledge, structural capital,
communication capital, organizational capital, inland and outland capitals (Jafari et al,
1388, p2). As Stewart said; the intellectual capital is a source resulting from the
employees’ knowledge and expertise to change management. OECD also believe the
intellectual capital is the economic knowledge of two kinds; 1- the organizational
capital, 2- the human capital which include the human source inside and outside the
organization, that is, the customers and providers ( Ghalihpour & Moshabaki,
1385,p9). As Chen et al said; the word intellectual capital was first introduced by John
Kent Galbrait as an economist to explain the gap between the market value and official
value in 1969 (Jafarnejad & Ghasemi,1387,p20). Rous et al believed the intellectual
capital includes all assets and processes available like those under consideration in
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modern accounting. In other hand, the intellectual capital is the sum of the
organization members’ knowledge and expertise and applying them as best
(Moshabaki & Ghalich li, 1385, p9-11). Nowadays, the world competition changed the
intellectual capital into a world element for competition. So, the organizations are
essentially required to classify their assets once again in order to find out their role in
achieving the strategic objectives (Tayles et al, 2002).
The history of intellectual capital: early 1980; the general idea of invisible value. Mid
1980; the establishment of information age and the gap between market value and
official value. Late 1980; attempts to edit the accounts and measure the intellectual
capital, Early 1990; the role of intellectual capital management with an organizational
position, mid 1990; Nonoka & Takishi introduced the entrepreneur organization in
1995, late 1990; the intellectual capital was them become popular in newspapers and
conferences, such as the holding of an international conference on intellectual capital
in Amsterdam in 1990, early 2000; the first valid magazine on intellectual capital was
published. Later a book named invisible asset was published by Broking Institute.
Then another book named the management of measuring the invisible assets was
published by Lou (Pour eini, 2011).
Sorts of intellectual capital
1- Human capital: based on the studies performed by Stewart, Habert and Zinkoiski,
it has been known the human capital is a complementary and as the main part of
intellectual capital comprising the knowledge, skill and the managers and
employees’ expertise. To achieve the best out the human capital, the top manager
is essentially required to be familiar with his workforce and provide them with
training required and consequently do the best to increase the individual value of
intellectual capital. 2- structural capital; generally, the human capitals go back to
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their homes every night and it is up to the knowledge-based asset managers to stay
at work at night. Such a goal can be achieved through a well-organized structural
asset comprising data network, the publications and the organization itself. The
knowledge bank makes the knowledge be reused. The structural capital of an
organization should be used as a guide to achieve the intellectual capital (Brawn,
2002, p38, 39). The customer capital; as Rous said the customer capital is a set of
assets providing company-based relations. It includes the relationship with the
customers, providers, shareholders, competitors, the society, the institutes and
community (Hoang Li, 2010, 4942). Five basic steps to successfully manage the
intellectual capital are as follow:
1- Identifying the intellectual capital of an agency or organization, 2- depicting
the key factors of value, 3- measuring the intellectual capital, 4- managing the
intellectual capital,5- reporting the intellectual capital.
The features of intellectual capital
Although there are some similarities between the visible assets and the
intellectual capital in view of the incoming cash flows, they are different in
some aspects such as the intellectual property and non-competitive property.
Unlike the physical properties which can only be used in a special work in a
special time, the intellectual properties can be applied concurrently for a
variety of affairs. For example, the customer support system can provide the
customer with support needed in a special time given. Such a feature is the
main one making the intellectual capital superior than the physical one. The
human capital and the customer capital can be changed into individual one.
They, in turn, should be common between the employees, the providers and the
customers. So, they need to be paid more attention to be developed as best.
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The role of knowledge-based intellectual capital in organizational
entrepreneurship
Business in the third millennium has special conditions. The competition
between the economic agencies gradually becomes closer and hereby the
innovation and entrepreneurship rate increases. Having considered the
knowledge-based process of innovation and entrepreneurship as a fact, it can
be said the organizations with a pleasant level of intellectual capital will be
more innovative. In such conditions, the organization will compete together
based on their level of knowledge. Meanwhile, the knowledge management
can pave the way for improving the human sources and also competitive
advantages through applying the tools required. An entrepreneur organization
attempts on producing wealth out the intellectual capital through knowledge
management. The knowledge management is a general description of cultures,
processes, infrastructures and the technology in an organization which may
pave the way for achieving the strategic objectives. The knowledge
management is a set of organizational processes which make the data,
information, innovation and creativity be applied at the same time. The
intellectual capital management is mainly aimed at achieving the innovation,
personal interest and applying the initiation as best. It has special role in
maintaining the competitive asset in the market nowadays (Soleimani, 1388,
p43).
The tools required for knowledge management are divided into seven
categories:
Cooperation: the cooperation tools help people work together on a given
activity
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Knowledge mapping: Knowledge mapping tools help to visualize, capture and
store the unstructured knowledge.
Data Mining and Knowledge Discovery: the production of knowledge out the
information is the main goal of data mining and knowledge discovery tools.
Online training systems: these systems are training management software
systems. The communication software and online services merge the
educational contents.
Document: the electronic document management system support the
organization create, manage and distribute the information based on the
documents available.
The Institutional memory: the institutional memory tools are mainly aimed at
providing information required for organizational policies hard to be trained
outside the organization.
The main goal of knowledge management is to change the human capital into
the structural one. In order to achieve the mentioned goal, the knowledge
management should be as follow:
1- The strategic level: in this level, the knowledge management should
establish a knowledge-oriented subjectivity in the organization and ensure
an organization can pave the way for a good working environment through
applying the knowledge and expertise available.
2- Tactical level: the knowledge management should best identify the
knowledge available and maintain the new knowledge to be applied in
future uses.
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3- Functional level: the knowledge management should pave the way for
knowledge to be used by those in access to it in a given place and time
(Pour Eini, 2011).
The role of human capital in innovation and entrepreneurship
The human capital in an organization as a component of intellectual capital
includes the competence of staff (the staff’s qualities, the employees’ learning
capacities, the employees’ training efficiency, the employees’ ability in view of
cooperation and decision-making, the training of employees), the employees’
attitudes and the employees’ creativity.in fact, the organizations will be
considered more innovative and entrepreneur if the employees better apply the
knowledge with higher efficiency in their job skills. Having developed the
structural and human capitals, the innovation and entrepreneurship in the
organization will improve. The customer capital in an organization may
include the knowledge on communication channels, the relationship with the
customers, the customer satisfaction and marketing possibility for
organizational services. Meanwhile, the entrepreneurship and innovation are
considered being as responses to the customers’ changing needs. So, the
organizations are essentially required to communicate with customers,
shareholders and providers to better meet their needs (Zarrin Sebab & Salari,
2011:18).
Inference
Having accepted the role of innovation and entrepreneurship in surviving in a
fast-changing and complex environment, the organizations are required to
compile special strategies and processes for entrepreneurship in order to
strengthen such aspects inside the organization and among the employees. The
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knowledge management is mainly based on the fact that achieving a lasting
competitive advantage depends on applying sources made based on
institutional knowledge. Having applied the intellectual capital as best may
lead to increased knowledge management efficiency. The knowledge
management creates values for the organization through changing the human
capital into intellectual one. In other hand, the intellectual capital can help the
organizations promote factors impacting the employees’ institutional
entrepreneurship. So, consistent development will be hereby achieved.
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