Intellectual Capital Components, Measurement and Management: A Literature Survey of Concepts and Measures

Introduction

With the beginning of the new era of knowledge-based production and mentality development, the need for a comprehensive background on knowledge and the methods on its measurement gained importance. However, there is a lack of published reviews in the related field. A review of prior relevant literature is an essential feature of any academic and practical project, because an effective review creates a firm foundation for advancing knowledge (Webster and Watson, 2002). The present chapter aims to cover the need for a better understanding of conceptual and practical contributions on various approaches of intellectual capital. Although there are many articles and working papers focusing on intellectual capital, no major attempt has been made on the conceptual and practical review of it for about a decade. As a matter of fact, we often need to draw on theories and views from a variety of fields. Since, the reviews are considered to be the foundation for research and development of theories, they tend to be critical in strengthening the related field of study. Analyzing the works done in the past, removes the threat of non-comprehensive and partial understanding on the subject and therefore helps in organizing and making a better foundation for preparing new theoretical and practical developments. In the present chapter, the scope of study on intellectual capital is in the following manner: