The functioning of modern enterprises in the conditions of challenges posed by the conditions of the new knowledge economy requires new management methods. To achieve market success, enterprises from traditional organizations must be transformed into organizations based on knowledge and skills and competencies. The above necessitates the use of new management methods that will allow companies to use knowledge, strengthen key competencies, develop employee skills, as well as support organizational training and form an external image. In order for companies to have an advantage and be competitive, they must take action to effectively manage intellectual capital. The potential for developing the competitiveness of the organization lies in the formation of its intellectual capital. The higher the intellectual capital is, the higher is the potential competitiveness of the organization. The development of intellectual capital is based on the transformation of information and knowledge into factors capable of creating wealth and value through the cumulative effect of the development of human, structural capital. The interaction of knowledge, information and intellectual capital, which results in the formation of competitive advantages of the organization, occurs through several stages. To form a vision of creating competitive advantages through individual elements of intellectual capital, the division of competitive advantages of the organization is done into a number of elements: consumer loyalty, reputational advantage, innovation, operational efficiency. Intellectual capital plays an important strategic role in increasing the competitiveness of the enterprise and appears as the basis of competitive advantage. Currently, an organization can withstand active competition only if it improves the intellectual component of its resource portfolio. It is the elements of intellectual capital that are the basis of the company’s innovative activity, setting the pace and mode of updating production technology and products. With the penetration of intellectual capital into production, there is a change in its nature, ensuring the growth of its efficiency and innovation.
Keywords: intellectual capital, intellectual capital management, competitive advantages, enterprise development
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The article was received 10.01.2021