Mirjana Babi, Ph. D. KD Autotrolej d.o.o. kolji 15, 51000 Rijeka, Hrvatska Phone: + !5 51 11 505" #a$: + !

5 51 0 %&'ail adress: 'irjana.(a(i)*autotrolej.hr Maja Babi, MA +u,ii -., 51-1/ 0i1kovo Phone: + !5 51 50 20 -0 %&'ail adress: (iene-2*3'ail.)o'

INTELLECTUAL CAPITAL KEY FACTOR OF INCREASING T E COMPETITI!ENESS OF NATIONAL ECONOMY

ABSTRACT Economic prosperity of a country depends on its competitiveness. Business globalization and new economy significantly affect the structure and main features of competitors competition. Natural resources are no longer important factor in the success or failure of the country. More imortant economic operators are human and social factors such as knowledge quantity, competitive spirit, long term planning, social discipline and the right combination of these factors. !n this regard, the importance and combination of the competition elements have chganged. "o, generation of added value is becoming the main source of competitive advantage, which relies on intellectual capital. "ociety has been transformated from industrial to information, i.e. knowledge based society, by overall changes in the last fifteen years of the last century. "o, the role of traditional production factors has been changed and knowledge, with referenses to its economic form, intellectual capital, is becoming the fundamental economic resource. #ey factors of national intellectual capital are$ human capital, consumer capital, process capital and renewal and development capital. %he analysis of the intellectual capital of various nations, instead of standard national competitiveness value, gains
1

a new perspective of strengths and weaknesses. !n this regard, intellectual capital management of national economy, becomes a necessity for survival and economic development of each country in modern economic and social conditions. #nowledge management refers to effective management of intangible values, apropos factors of overall economy, promoting intellectual property in order to improve the image and increase the competitiveness of national economy on global market. %he fundamental purpose of this scientific discussion is to determine the significance of intellectual capital to increase competitiveness of national economy, define the elements of intellectual capital as well as the goals and assumptions of intellectual capital management in national economies and to make proposals how to create preconditions for development of knowledge based econonomy. Key words: intellectual capital of national economy, competitiveness of national economy

".

INTRODUCTION

#or the last 4our 5ears 6roatia is )ontinuall5 4allin3 in the rankin3s o4 e)ono'i) )o'7etitiveness. A))ordin3 to the re7ort (5 the 8orld %)ono'i) #oru' 98%#: 4or the 5ear -010, 6roatia is (5 the inde$ o4 3lo(al )o'7etitiveness at the 52th 7la)e a'on3 1 ! )ountries. 0er5 i'7ortant 4a)tors that si3ni4i)al5 in4luen)ed on 7oor 7osition o4 6roatian are e'7lo5ees trainin3, the use o4 in4or'ation te)hnolo35 4or ne; 7rodu)t develo7'ent, innovation )a7a)it5 and the 7ossi(ilit5 o4 ado7tin3 ne; te)hnolo3ies at the enter7rise level, the ;illin3ness to use in4or'ation te)hnolo3ies and the )reation and i'7le'entation o4 ne; 'odels o4 or3ani<ation. 1 =n this (asis, it )an (e
1

Hrvatska 52. na 3lo(alnoj ljestvi)i konkurentnosti 9-011: htt7:>>;;;.;e4oru'.or3>issues>3lo(al&in4or'ation&te)hnolo35>inde$.ht'l, (accesed 9 May 2011) 6roatia, a))ordin3 to resear)h o4 the 8orld %)ono'i) #oru' 3lo(al )o'7etitiveness rankin3s in -011 dro77ed to ??th 7la)e. 0ara@din is7red Aa3re(a 9-011:, htt7:>>;;;.(anka'a3a<ine.hr>Baslovni)a>Hrvatska>ta(id>10->0ie;>Details>Cte'CD>/.1 ?>tt l>0ara<din&is7red&Aa3re(a>De4ault.as7$ 9a))esed 1? Da5 -011 :.

)on)luded that the 7ro(le' o4 lo; )o'7etitiveness o4 6roatian e)ono'5 is lar3el5 a )onseEuen)e o4 not a))e7tin3 the )on)e7t o4 intelle)tual )a7ital 'ana3e'ent o4 the national e)ono'5. Cntelle)tual )a7ital is a ke5 4a)tor in in)reasin3 the )o'7etitiveness o4 national e)ono'5. Fo 7rove this )lai', various s)ienti4i) 'ethods have (een used in di44erent )o'(inations, in)ludin3 'ethods o4 anal5sis and s5nthesis, )o'7arative 'ethod and 'odelin3. #. T E ROLE OF INTELLECTUAL CAPITAL IN T E MODERN ECONOMY Fhe toda5Gs 3lo(al (usiness ;orld is o7erated (5 a Be; %)ono'5, and it is (ased on a 4unda'ental )han3e in the stru)ture o4 the e)ono'5, ;hi)h is trans4or'ed 4ro' an industrial to an in4or'ation, in ;hi)h the 7o;er o4 the intan3i(le is )ontinuousl5 3ro;in3. At the end o4 1.?0 'arket and a))ountin3 value o4 the )o'7an5 ;ere lar3el5 identi)al. Cn the nineties the avera3e ratio o4 'arket value to a))ountin3 value o4 the )o'7an5 ra7idl5 e$7anded and is )urrentl5 three ti'es hi3her. #or te)hnolo35 and so4t;are sto)ks, this di44eren)e )an (e even 4ive or 'ore ti'es hi3her. Cn addition, the stru)ture o4 7ro7ert5 invest'ent is )han3in3 in 4avor o4 intan3i(le assets. Fhe )han3e in share o4 invest'ent in tan3i(le and intan3i(le assets in the H.I. e)ono'5 )an (e seen on #i3ure 1.

#i3ure 1: 6han3e in share o4 invest'ent in tan3i(le and intan3i(le assets 9Data 4or the H.I. e)ono'5, a )o'7arison o4 1.?! and 1..!:

Iour)e: =%6D Re7ort 9-00-:, ;;;.oe)d.or3J-J1e.7d4 9a))esed 2 =)to(er -00.:

Io, the share o4 invest'ent in intan3i(le assets in the H.I. in)reased sin)e 1.?! untill 1..! 4our ti'es. =4 the total invest'ent in %uro7e, 2/K- re4ers to the so4t;are industr5 and Cnternet te)hnolo35, ie to the se)tors that 3enerate hi3h added value. Cn the ne; e)ono'5, 7rodu)ts o4 su))ess4ul )o'7anies are 'ore and 'ore ri)h o4 Lintelli3ent value&addedL, and 7oorer o4 ra; 'aterial and so the 'ajorit5 o4 the )osts relates to 7rodu)t develo7'ent, and the 'ajorit5 o4 jo(s is not in 'anu4a)turin3 (ut in the sta3e o4 )reatin3 the 7rodu)t. Produ)tion is in the 7ri)e stru)ture o4 7rodu)ts or servi)es less i'7ortant. Dore i'7ortant are the intan3i(le 4a)tors su)h as the a(ilit5 o4 e'7lo5ees to desi3n a 7rodu)t, 'ake it attra)tive to )usto'ers and 7resent it in an a))e7ta(le 'anner. Cn this re3ard, the 'ost e$7ensive 7rodu)ts are ideas and ne; )on)e7ts o4 a solution, ie, innovations, and the5 are (ased on di44erent kinds o4 kno;led3e. Fhe use o4 intan3i(le assets in the 'odern 7rodu)tion 7ro)esses not onl5 has 7roven 'ore e44e)tive than tan3i(le assets, (ut has another advanta3e. Cn 4a)t, a))ordin3 to neo)lassi)al 3ro;th theor5, e)ono'i) 3ro;th ;ill (e3in to slo; do;n and ;ill 4inall5 sto7 ;hen the )o'(ination o4 all 'aterial resour)es a77roa)hes to its 'ost e44i)ient )o'(ination. #or intan3i(le assets, ie kno;led3e, the 'ost e44e)tive )o'(ination o4 resour)es 7ra)ti)all5 doesnGt e$ist (e)ause kno;led3e is an unli'ited resour)e. Io the 'ost e44i)ient )o'(ination o4 7rodu)tion is )ontinuousl5 a))o'7lished in the (usiness (ased on kno;led3e and is 3ro;in3 ea)h da5 9Iunda, -00 :. Io, unlike the natural 7rodu)tion resour)es, kno;led3e, instead o4 de)reasin3, is
2

6or7orate 0enturin3 %uro7ean A)tivit5 Re7ort 9-00/:, htt7:>>;;;.ev)a.)o'>t'7lJ.JartJ!JattJ/5!.7d4 , 9accesed 2 =)to(er -00.:

)hara)teri<ed (5 in)reasin3 returns that allo; unli'ited 3ro;th 7ro)ess (e)ause the use o4 kno;led3e doesnGt lo;er it, ideas )an (e a))u'ulated, shared and re&used ;ithout (oundaries. Fhere4ore, 4or )o'7an5 to (e)a'e 'ore su))ess4ul, as ;ell as overall e)ono'5, the )o'7an5 'ust (e a(le to )ontinuousl5 a)Euire ne; kno;led3e. Musiness su))ess in the ne; e)ono'5 in)reasin3l5 de7ends on intan3i(le 4a)tors su)h as Eualit5, s7eed, 4le$i(ilit5, desi3n, i'a3e, and es7e)iall5 & the in4or'ation and kno;led3e, ie its e)ono'i) relevan)e 4or' & the intelle)tual )a7ital 9Puli, -005, :. Io, it is a(out 3ro;th and develo7'ent o4 7rodu)ts ;hi)h )ontain 'ore intelle)tual )o'7onent, the transition 4ro' e)ono'i5 o4 s)ale in the kno;led3e e)ono'5. Cn 'ost develo7ed e)ono'ies o4 the ;orld 'ore than hal4 o4 NDP is (ased on kno;led3e & hi3h&te)h industries have al'ost dou(led their share in out7ut in the last t;o de)ades, ;hile kno;led3e&(ased servi)es 3ro; even 4aster. Nlo(ali<ed, hi3hl5 )o'7etitive 'arket is oriented on de'and 4or kno;led3e )reation, so the 'ana3e'ent o4 intelle)tual )a7ital 'akes the )o'7etitive environ'ent o4 the ne; e)ono'5 ;here kno;led3e is the 'ain 7rodu)t and ;hat is (ou3ht and sold 9Iria and I7re'i, -000, 1!?:. As kno;led3e is 3enerator o4 ;ealth, it is essential 4ro' the stand7oint o4 (usinesses, as ;ell as 4ro' the vie;7oint o4 national e)ono'5, so intelle)tual )a7ital is (e)o'in3 the 'ost valua(le asset 9Puli and Iunda, -001, 50:. $. INTELLECTUAL CAPITAL AND COMPETITI!ENESS OF NATIONAL ECONOMY Cntelle)tual )a7ital re7resents one o4 the 'ost i'7ortant so)ial su(s5ste', ;hi)h in its s)o7e and in4luen)e 3ains in)reasin3 i'7ortan)e in the develo7'ent o4 'odern so)iet5 90uji, -00-:. 8hat the 4inan)ial )a7ital and 'anual ;ork ;as 4or the industrial 7eriod, intelle)tual )a7ital is 4or the ne; e)ono'5 o4 the -1st )entur5. Cntan3i(le values 9intelle)tual )a7ital: are 'ore i'7ortant (oth 4or 7rodu)tivit5 and )o'7etitiveness o4 a )o'7an5, and 7rodu)tivit5 and )o'7etitiveness o4 national e)ono'ies. Fhe 3lo(ali<ation o4 (usiness and the ne; e)ono'5 si3ni4i)antl5 a44e)t the stru)ture and 'ain 4eatures o4 the )o'7etition. Batural resour)es and )hea7 la(or are no lon3er as i'7ortant

4a)tors in the su))ess or 4ailure o4 the state, (ut these are: the a'ount o4 kno;led3e, )ulture o4 innovation and li4elon3 learnin3, )o'7etitiveness, lon3&ter' 7lannin3, so)ial dis)i7line, a )reative 'arketin3 a77roa)h and (usiness ethi)s. Cn this re3ard, lon3 ter' (ene4it ;ill 3ain those nations ;ho ;ill 7er'anentl5 (ase and develo7 their )o'7etitiveness on these 4a)tors. Fhe develo7'ent and 7ro3ress o4 individual )ountr5 ;ill de7end on ho; it develo7es a kno;led3e (ased e)ono'5 as a kno;led3e&(ased e)ono'5 'odel 7rovides the (est o7tions 4or )on4rontin3 ;ith ne; 3lo(al environ'ent. Cn these )onditions, invest'ent in intan3i(le 3oods (e)o'es an indi)ator o4 develo7'ent o4 the kno;led3e&(ased e)ono'5 9%dvinsson, -00 , //, -/-:,2 and intelle)tual )a7ital o4 a nation (e)o'es their ne; ;ealth 9I)h;ar<, -005:.5 Kno;led3e&(ased e)ono'5 is 4o)used to;ards 7rodu)tion, a))u'ulation, distri(ution and use o4 kno;led3e and in4or'ation and their )a7itali<ation, ;hi)h is 7arti)ularl5 re4le)ted in the 3ro;th o4 invest'ent in hi3h te)hnolo35, ie servi)es that )reate lar3er added value, in the d5na'i) 3ro;th o4 the e$istin3 and ne; hi3h&te)hnolo35 industries>)lusters>se)tors, as ;ell as in si3ni4i)ant in)rease o4 hi3hl5 skilled la(or 4or)e share ;ithin the ;orkin3 7o7ulation overall, and si3ni4i)ant in)rease o4 7rodu)tivit5. Ct has led to a))elerated e)ono'i) and so)ial develo7'ent o4 'an5 )ountries in the last 4i4teen 5ears. 6ountries that (uild a kno;led3e&(ased e)ono'5 3ain 3reat 7otential 4or )ontinuous in)rease o4 livin3 standards, Eualit5 o4 li4e and so)ial ;ealth. A ter' Lkno;led3e&(ased e)ono'5L )an (e used ;hen )a7ital invest'ents are (ein3 re7la)ed (5 invest'ent in kno;led3e as a (asi) 4a)tor o4 e)ono'i) 3ro;th. A))ordin3 to the results o4 the =%6D, I;eden, A'eri)a, Korea and #inland are the 4our )ountries ;ith hi3her develo7ed kno;led3e&(ased e)ono'5 )onsiderin3 the 4a)t that their invest'ents in kno;led3e in the
3

Fhe 4a)t that natural resour)es 'ake u7 onl5 1?K, and hu'an )a7ital /?K in total ;ealth o4 'ost develo7ed )ountries o4 the ;orld, 7roves less si3ni4i)an)e o4 natural resour)es and in)reasin3 si3ni4i)an)e o4 hu'an )a7ital in 3eneratin3 ;ealth. Dujani, D., Iunda, D., Arili, B. 91..?:: #leksi(ilnost i ada7ti(ilnost, CM66, Rijeka, 77. 22 4 I;eden sets aside 4or su)h 7ur7oses -0K o4 NDP and is a'on3 the leadin3 nations in the kno;led3e e)ono'5. Ho; this a44e)ts the )o'7etitiveness o4 the I;edish e)ono'5 s7eaks the 4a)t that I;edenGs e$7ort )onstitutes 20K o4 I;edish NDP, and in addition, it has a 7ositive trade 4lo; (ased on intelle)tual 7ro7ert5. 5 Althou3h the intan3i(le 4a)tors ;ere 4ound in the 1.50es (5 Ro(ert Iolo;, a Bo(el Pri<e ;inner 4or %)ono'i)s in 1.!?, ;ho has )lassi4ied the', as 7art o4 his ;ell&kno;n neo& )lassi)al endo3enous 3ro;th 'odel, under the sa'e deno'inator o4 te)hnolo3i)al 7ro3ress or te)hnolo3i)al )han3e, the invest'ent in intan3i(le )a7ital e$)eeded )a7ital invest'ent not (e4ore 1..0es, and the5 re4le)t the e'er3en)e o4 kno;led3e&(ased e)ono'5.

narro; sense 9;hi)h in)ludes hi3her edu)ation, 7rivate and 7u(li) invest'ents in resear)h and develo7'ent and so4t;are: are the hi3hest and su's (et;een 5.- and /.5K o4 NDP. Fheir develo7'ent is (est 4ollo;ed (5 Bor;a5, Creland and Australia, ;hose invest'ents in kno;led3e 3re; at an annual rate o4 .2K 9I)h;ar<, -005:. Cnvest'ent in kno;led3e in)reases the 7er4or'an)e o4 intelle)tual )a7ital, and thus the )o'7etitiveness o4 national e)ono'5 and the )ountr5Gs attra)tiveness as a (usiness destination. 6ountries that 'ost invest in kno;led3e and (est 'ana3e intelle)tual )a7ital are the 'ost )o'7etitive e)ono'ies 9the5 (elon3 in the to7 10 )ountries a))ordin3 to e)ono'i) )o'7etitiveness: and have the 'ost 4orei3n dire)t invest'ents. #urther'ore, #DC has a (ene4i)ial e44e)t on NDP o4 the )ountr5 in ;hi)h itGs (een invested 9#i3ure -:.
#i3ure -: Frends in #DC and NDP in the ;orld 91.!0&-002, in K:

Iour)e: HB6FAD, #DC and Cnternational Donetar5 #und, 8orld %)ono'i) =utlook Data(ase 9-005:, ;;;.un)tad.or3>4distatisti)s 9a))esed -0 A7ril -00.:

Fhere4ore, the in)rease o4 #DC leads to 3ro;th o4 NDP, so it is i'7ortant 4or ea)h )ountr5 to attra)t 'ore 4orei3n dire)t invest'ents. Kno;led3e, ie intelle)tual )a7ital, has (e)o'e the drivin3 4or)e o4 develo7'ent o4 ea)h so)iet5, ;hose 7rin)i7al ai' is to in)reasin3 the ;el4are o4 its )iti<ens. Ct is there4ore essential the ne; 7ro4ilin3 o4 kno;led3e as a (ase 4or the a))elerated develo7'ent throu3h ne; ideas, initiatives and, o4 )ourse, the ne; role o4 the state. $.". K%& 'a()*r+ in )h% in)%,,%()-a, (a.i)a, *' na)i*na, %(*n*/& Ada' I'ith )lai'ed in his (ook Fhe 8ealth o4 Bations 4ro' the 1??/ that the real ;ealth o4 a nation is not 'easured on the (asis o4 3old in its 7ossession, (ut in ;hat it )an 7rodu)ed 9%dvinson, -00 , 2.:.
7

Cntelle)tual )a7ital, as an ele'ent o4 the (usiness is kno;n 4or 'an5 5ears. Fra)es o4 theories a(out the i'7a)t o4 kno;led3e on e)ono'i) 3ro;th )an (e 4ound even in the 7eriod o4 'er)antilis' and )lassi)al 7oliti)al e)ono'5. Ho;ever, the )on)e7t o4 (usiness 'onitorin3 (ased on intelle)tual )a7ital is relativel5 ne; O it ;as develo7ed in the .0&s o4 the last )entur5, and relies on a 'a)roe)ono'i) (asis, ie the Iolo; 'odel o4 neo)lassi)al 3ro;th theor5 9Kolakovi, -00-, 1-/:. =ne o4 the 'ain Iolo;Gs assu'7tion ;as that the 3ro;th starts to slo; do;n and 4inall5 sto7s ;hen the )o'(ination o4 7rodu)tion 4a)tors, ie land, la(or and )a7ital, a77roa)hes to the 'ost e44i)ient )o'(ination. Cn this re3ard, Iolo; has 7redi)ted that all )ountries ;ill on)e rea)h a 7oint o4 )onver3en)e, ie that 3ro;th ;ill de)line in industriali<ed )ountries, ;hile e)ono'i) 3ro;th ;ill (e ver5 4ast in less develo7ed )ountries. Ho;ever, )ontrar5 to his e$7e)tations, e)ono'i) 3ro;th in industriali<ed )ountries still has a tenden)5 o4 3ro;th, ;hile it is sta3natin3 in less develo7ed )ountries. Me)ause o4t hat, 'odern theorists 7oint to the unsustaina(ilit5 o4 his theor5, that is, a7art 4ro' kno;n 4a)tors o4 7rodu)tion there 'ust (e so'e other intan3i(le value. A;areness o4 the i'7ortan)e o4 national intelle)tual )a7ital led 6aroline Iten4elt in the 5ear 1..!, 4ro' the Hniversit5 o4 Ito)khol', to or3ani<e the 0a$hol' Iu''it & the 4irst international )on4eren)e on visuali<ation and 'easure'ent o4 intelle)tual )a7ital o4 nations.Fhe result is that it (e3an ;ith the visuali<ation o4 national intelle)tual )a7ital, 4irst in I;eden and then in Csrael, the Betherlands and Den'ark 9%dvinsson, -00 , -/0:. Cn this re3ard, the I;edish 3overn'ent a))e7ted the Ikandia Bavi3ator as a 'odel 4or 7er4or'an)e assess'ent o4 national intelle)tual )a7ital 9%dvinsson, -00 , 1-?:,/ ;hi)h )onsists o4 4ive areas that )reate value, and the i'7a)t o4 the environ'ent 9I)he'e 1:.
I)he'e 1: #a)tors o4 national intelle)tual )a7ital

FINANCIAL FOCUS FINANCIAL FOCUS

UMAN FOCUS UMAN FOCUS

USERS FOCUS
6

PROCEDURA L

Fhe 4irst 'odel that ;as )reated 4or the visuali<ation o4 the intelle)tual )a7ital, desi3ned and i'7le'ented in 1..2 in I;edish insuran)e )o'7an5 Ikandia.

8
OPERATING OPERATINGEN!IROMENT EN!IROMENT

RENE0AL AND DE!ELOPMENT FOCUS

Iour)e: %dvinsson, +. 9-00 :: 6or7orate +on3itude, Di44ero, Aa3re( 77. -/1

Fhere4ore, a'on3 the 4ive areas that )reate value, one area is related to 4inan)ial )a7ital, and 4our to intelle)tual )a7ital. As it )an (e seen on s)he'e 1, the ke5 4a)tors o4 national intelle)tual )a7ital are 9%dvinsson, -00 , -/1::? hu'an )a7ital, ;hi)h in)ludes the Eualit5 o4 li4e, li4e e$7e)tan)5, level o4 health, edu)ation 97ri'ar5 and se)ondar5: the e$7erts and s)ientists: and )reativit5, the statisti)s re3ardin3 a3e, the )ri'e rate" user eEuit5, ;hi)h in)ludes tourist statisti)s, (alan)e o4 servi)es, trade (alan)e, trade (alan)e and intelle)tual 7ro7ert5 trade (alan)e, relations in value )reation )hain 9su77liers, )o'7anies, s)ienti4i) institutions, the 'arket:, relations ;ith )o'7etitors 9relational )a7ital:, resear)h o4 international 'arkets ;ith ai' to 'eet the needs and desires o4 the 3lo(al )onsu'er, international 'arketin3 ;ith ai' to in)rease e$7orts and attra)t 4orei3n investors" 7ro)edural eEuit5, ;hi)h in)ludes servi)e )o'7anies, 7u(li) s7endin3 in the 4or' o4 NDP, le3islation and 7oli)5, vision and e)ono'i) strate35, (usiness leadershi7, kno;&ho;, data(ases, kno;led3e (ase and e$7erien)e (ase, ;hi)h are trans4or'ed into )olle)tive kno;led3e ;ith the hel7 o4 CF s5ste' , s)ienti4i) and edu)ational s5ste' 9the )ohesion o4 s)ien)e and edu)ation ;ith e)ono'5:, the involve'ent in international e$7ert net;orks, )han3es 'ana3e'ent, ! e)ono'i) )ulture 94o)us on value )reation, develo7'ent and international )oo7eration: and ethi)s 9an e44e)tive s5ste' to 7revent )orru7tion and un4air )o'7etition: , i'a3e, in4or'ation te)hnolo35, e'7lo5'ent" rene;al and develo7'ent )a7ital, ;hi)h in)ludes e$7enses on s)ien)e and edu)ation and resear)h and develo7'ent as a 7er)enta3e o4 NDP 9Bordstro' and Ridderstrale, -00-, 1--:,. the e)ono'5Gs a(ilit5 to
7 8

Dodi4ied (5 the authors. Cn ter's o4 )onstant )han3es and un)ertaint5, )han3es 'ana3e'ent is )ru)ial and )riti)al 4a)tor on the ;a5 to hi3hl5 develo7ed e)ono'5. 9 Iin3a7ore s7ends -5K o4 NDP on edu)ation, s)ien)e and develo7'ent.

)ontinuousl5 rede4ine the su77l5 o4 7rodu)ts or servi)es, anti)i7atin3 'arket de'ands, the ori3inal nu'(er o4 (usiness ventures , intelle)tual 7ro7ert5 97rote)ted (5 trade'arks, 7atents and li)enses:. Hu'an 6a7ital is 7resented (5 'otivated ;orkin3 7o7ulation ;hi)h su))ess4ull5 a77l5 their kno;led3e, a(ilities, so)ial )o'7eten)e, skills and e$7erien)e in e)ono'i) 7ra)ti)e, )reatin3 the value 4or )o'7anies, national e)ono'5 and so)iet5 as a ;hole. Fhe5 are a ke5 resour)e o4 this )entur5. Fhe state'ent that kno;led3e is the 'ost i'7ortant 4a)tor o4 so)io&e)ono'i) develo7'ent in 'odern (usiness )onditions, is 7roven (5 the 4a)t that )ountries ;ith even 7oor natural resour)es, ;ith a hi3h level o4 edu)ation o4 the 7o7ulation, a)hieved a hi3her 3ross national 7rodu)t 7er )a7ita. Fhere4ore, the edu)ational level o4 the 7o7ulation is 'ost 3eneral indi)ation o4 the level o4 e)ono'i) develo7'ent (e)ause onl5 an edu)ated 7erson is a(le to 7er4or' his jo( ;ell. Cn this re3ard, HB%I6= (elieves that edu)ation is Lthe lar3est and 'ost use4ul industr5 o4 the ;orld.L Niven that 7eo7le hold kno;led3e, the5 are )onsidered as an invest'ent that, ;ith o7ti'al use o4 other resour)es, )reates ne; value. Cn the ne;, kno;led3e&(ased e)ono'5, invest'ent in hu'an )a7ital is )onsidered to (e an invest'ent 4ro' ;hi)h itGs e$7e)ted to 3ive hi3her return than 4ro' the 7h5si)al and 4inan)ial )a7ital. Mut kno;led3e and skills are not enou3h. Cntelle)tual )a7ital, and the related develo7'ent o4 a su))ess4ul e)ono'5, is also (ased on initiative and 'otivation o4 e'7lo5ees. Fhe5 need to 4o)us their kno;led3e and a)tivities on )reatin3 values and in)reasin3 (usiness e44i)ien)5. De'otivated 7eo7le are not a)tive )reators o4 values (ut dead )a7ital. Ct is there4ore ne)essar5 to )onstantl5 ;ork on i'7rovin3 and i'7le'entin3 'otivation s5ste' to to 7revent the out4lo; o4 hu'an )a7ital and in)rease the e44i)ien)5 o4 value )reation. Fhe anal5sis o4 the intelle)tual )a7ital o4 nations, instead o4 the standard value o4 national )o'7etitiveness, 3ains a ne; 7ers7e)tive o4 the stren3ths and ;eaknesses, and in this re3ard also the 3ro;th and develo7'ent o4 national e)ono'5. $.#. K%& in1i(a)*r+ *' 2n*3,%14%5ba+%1 %(*n*/& 1%6%,*./%n) 6ountries that ;ere read5 to orientate to the ne; e)ono'5 re)orded ra7id e)ono'i) 3ro;th and earn 4inan)ial 3ains. Cn this re3ard, there is a need to assess develo7'ent o4 kno;led3e&(ased e)ono'5. %urostat 7ro7oses several areas to assess develo7'ent o4 kno;led3e&(ased e)ono'5 9Fa(le 1:.
10

Fa(le 1: Ke5 indi)ators o4 kno;led3e&(ased e)ono'5 develo7'ent DOMAINS POSSIBLE GROUP OF INDICATORS Cn4or'ation and 6o''uni)ation Cn4rastru)ture Cnternet Cn4rastru)ture Di3italisation 0irtuali<ation Dulti'edia Cnternet Hsers Cnternet 7enetration Produ)tion o4 in4or'ation te)hnolo35 and asso)iated tradin3 7ara'eters Cndi)ators o4 kno;led3e )a7ital Cndi)ators o4 industrial 7er4or'an)es Cndi)ators inter&enter7reneurial allian)es Cndi)ators o4 ne; t57es o4 (usiness or3ani<ations Produ)tion indi)ators Cndi)ators o4 e)ono'i) 7er4or'an)e Cndi)ators o4 international trade

T%(hn*,*4i(a, 1*/ain

In1-+)r& D*/ain

E(*n*/i( 1*/ain

11

S*(ia, 1*/ain

Musiness indi)ators Cndi)ators o4 dere3ulation Cndi)ators o4 7rodu)tion and di44usion o4 in4or'ation Cndi)ators o4 ;a3es and salaries %)ono'i) and so)io&de'o3ra7hi) indi)ators Cndi)ators o4 li4e edu)ation>trainin3 Cndi)ators o4 livin3 standards and li4est5les 6ultural Cndi)ators Cndi)ators o4 so)ial ineEualit5 Cndi)ators o4 te)hnolo3i)al 7enetration Cndi)ators o4 Cnternet 7enetration Hse o4 ti'e

Iour)e: %dvinsson, +. 9-00 :, 6or7orate +on3itude, Di44ero, Aa3re(, 77. -/2

Fhere4ore, to assess the develo7'ent o4 kno;led3e e)ono'5 in )ountr5 the ke5 indi)ators in 4our do'ains )an (e used: te)hnolo3i)al, industrial, e)ono'i) and so)ial. As alread5 'entioned, in ter's o4 the ne; ;orld e)ono'5 )o'7etitiveness is a)hieved (5 innovations. Ho;ever, innovation in)rease'ent does not ha77en overni3ht and does not de7end on onl5 a 4e; outstandin3 individuals. Fhis reEuires lon3&ter', hi3hl5 4o)used, )onsistent and sti'ulatin3 7oli)5 and the )onstru)tion o4 national innovation s5ste's 9Iala'on, -00-, 1:.10 Cnnovation stren3thenin3 in the %uro7ean Hnion has the status o4 a 7riorit5 sin)e 1../ ;ith the ai' o4 rea)hin3 and overtakin3 H.I. levels o4 )o'7etitiveness. #or insi3hts into a)hievin3 these o(je)tives, the %H has develo7ed a 'ethodolo35 4or 'onitorin3 innovation throu3h %uro7ean Cnnovation I)ore(oard 9%CI:, and sin)e the 5ear -000 it 'onitors ;hat is ha77enin3 in ea)h %H )ountr5 and 'akes re)o''endations to 3overn'ents ;hat to do level u7 innovation. %CI )ontains 1. indi)ators, ;hi)h sele)tion is (ased on detailed anal5sis o4 ;hi)h de7ends innovation, ie ;hi)h are the 'ain initiators o4 innovation. Fhese indi)ators are divided into 4our 3rou7s: hu'an resour)es 4or innovation 9tra)ks the nu'(er o4 3raduates 11 4ro' te)hni)al and natural s)ien)es, the 7er)enta3e o4 7o7ulation ;ith universit5 edu)ation, 7er)enta3e o4 7o7ulation that 7arti)i7ates in 7ro3ra's o4 )ontinuin3 edu)ation,1- e'7lo5'ent in 4ir's that use
10

Bational innovation s5ste' is the 7ivotal 7oint o4 inte3ration o4 national develo7'ent resour)es in the 7ro)ess o4 3eneratin3 and stren3thenin3 )o'7etitive advanta3es on 3lo(al, national, re3ional, se)toral and )o'7an5Gs level. 11 Nro;th in the nu'(er o4 students has (e)o'e an indi)ator o4 the intensit5 o4 develo7'ent o4 so)iet5. Ct sho;s a )ontinuous tenden)5 o4 e$7ansion in al'ost all )ountries. 12 6ontinuin3 edu)ation in ter's o4 s)ienti4i) and te)hni)al 7ro)ess is in)reasin3l5 (e)o'in3 an i''ediate 4or)e o4 so)iet5 and a de)isive 4a)tor o4 e)ono'i) and so)ial 7ro)ess. HIA is a

12

'ediu' and hi3h te)hnolo35, e'7lo5'ent in 4ir's that 7rodu)e hi3h& te)h servi)es, the nu'(er o4 resear)hers in total la(or 4or)e:" )reation o4 ne; kno;led3e 9in)ludin3 indi)ators o4 7u(li) and (usiness e$7enditure on resear)h and develo7'ent, and the nu'(er o4 7atents:" trans4er and a77li)ation o4 kno;led3e es7e)iall5 'onitors ho; 'u)h innovative a)tivit5 o))urs in s'all and 'ediu' enter7rises 9ne; 7rodu)ts, ne; 7ro)esses ...: and ho; s'all and 'ediu' enter7rises set aside 4or innovation, and innovative 4inan)in3 and 'arket 9in)ludin3 indi)ators related to the availa(ilit5 o4 4inan)in3 ne; ventures and innovation 7roje)ts" ho; 'an5 ne; 7rodu)ts do s'all and 'ediu'&si<ed )o'7anies have, that are ne; not onl5 4or the' (ut 4or the 'arket, relations (et;een the (irth and death o4 s'all and 'ediu' enter7rises, Cnternet use :.

Cn the ne; e)ono'5, ke5 indi)ators o4 3eneral develo7'ent and ;ealth o4 a )ountr5 and an indi)ator o4 survival and develo7'ent o4 enter7rises in the 3lo(al 'arket are: the level and use o4 kno;led3e o4 its 7o7ulation and develo7'ent in4or'ation s5ste', and the5 in turn de7end on the develo7'ent o4 s)ien)e and the Eualit5 o4 s)ienti4i) and edu)ational s5ste'. Dodern universities have (e)o'e the lar3est s)ienti4i) 4a)ilities, and there4ore develo7'ent o4 te)hnolo35 and e)ono'5 de7ends on their dis)overies. As onl5 hi3hl5 edu)ated are )a7a(le o4 7lannin3 sustaina(le develo7'ent and )reatin3 internationall5 )o'7etitive 7rodu)ts, in a so)iet5 (ased on kno;led3e universities o(taine strate3i) si3ni4i)an)e. Fhere4ore, develo7ed so)ieties take s7e)ial )are o4 the'. Fhe essen)e o4 kno;led3e 'ana3e'ent is in the )a7itali<ation o4 kno;led3e. Ct is there4ore ne)essar5 to 4un)tionall5 )onne)t s)ienti4i) and resear)h resour)es ;ith other 7arts o4 the so)io&e)ono'i) s5ste' in order to )reate ne; te)hnolo3ies and innovations, ie 7rodu)ts, 7ro)esses and servi)es )o'7etitive on ;orld 'arkets. Fo a)hieve that, it is ne)essar5 to )reate su)h )onditions and the or3ani<ational, institutional, and es7e)iall5 so)io&)ultural environ'ent that allo;s the return o4 invest'ent in kno;led3e, ie )reate ne; value. I7eakin3 a(out the develo7'ent o4 kno;led3e&(ased e)ono'5 Pean #ran)ois Ris)hard said that it is 'ost i'7ortant to (e 4ast, and also to have di44erent

leader in or3ani<ation o4 )ontinuin3 edu)ation.

13

'entalit5 and ;a5 o4 thinkin3. He (rin3s u7 three 7ossi(le 'odels 4or the develo7'ent o4 kno;led3e&(ased e)ono'5:1 Fhe 4irst is the li(erali<ation 'odel, ;hi)h 'eans re'ovin3 (arriers 9it ena(les 3ro;th rate o4 7er)ent:, Ie)ond, 'oderni<ation 'odel, ;hi)h is i'7ortant to 4o)us on the har'oni<ation o4 la;, 7rote)tion o4 7atents, 3ood trade le3islation, and the task o4 3overn'ent is to (e a re3ulator 9this 'odel ena(les a 3ro;th o4 5 7er)ent:, and Fhe third 'odel is the )reation o4 a vision, ;innin3 'entalit5 and 4ra'e;ork 4or innovation, ;here 4o)us should (e on )reation o4 )lusters, 3ainin3 Eualit5 7eo7le, and 3overn'ent task is to (e an inte3rator 9'odel ena(les a 3ro;th o4 ?, or 10 7er)ent:. Ris)hard atta)hes 3reat i'7ortan)e to invest'ent in edu)ation, s5ste' and )ulture o4 li4elon3 learnin3 develo7'ent 9GGlearnin3 so)iet5GG:,12 and stren3thenin3 universit5&(usiness links, (e)ause e)ono'i) 3ro;th and develo7'ent is not 7ossi(le ;ithout a si3ni4i)ant invest'ent in edu)ation, )ontinuous ado7tion o4 ne; kno;led3e, and solid links (et;een s)ien)e and e)ono'5.15 Dodern nation, as a so)iet5, )an survive and 7ros7er onl5 i4 it, as a ;hole, )ontinuousl5 )o7es ;ith the ne)essar5 kno;led3e and 7rodu)es ne; kno;led3e. Fhat is ;h5 investin3 in edu)ation, li4elon3 learnin3 and the inte3ration o4 s)ien)e and e)ono'5 (e)a'e a ke5 4a)tor in e)ono'i) develo7'ent and 3eneral 7ros7erit5 o4 ever5 )o''unit5. 7. OB8ECTI!ES AND ASSUMPTIONS OF INTELLECTUAL CAPITAL MANAGEMENT IN CROATIAN ECONOMY Cntelle)tual )a7ital 'ana3e'ent re4ers to the e44e)tive 'ana3e'ent o4 intan3i(le values, ie 4a)tors in the overall e)ono'5, ;hi)h 7ro'ote intelle)tual 7ro7ert5 ;ith the ulti'ate 3oal o4 o7ti'al use o4 resour)es,
Ananje je 'otor ra<voja 9-005.:, ;;;.hina.hr, 9accesed 1- de)e'(er -005: Ra7id e)ono'i) and te)hnolo3i)al )han3es 7ro'ote li4elon3 learnin3 and )reate a GGlearnin3 so)iet5GG. Be)essit5 to ada7t to )han3es in ;ork and environ'ent, as ;ell as in learnin3 throu3hout li4e is 3ro;in3. 15 Fhe innovative 7er4or'an)e o4 a )ountr5, re3ion, se)tor or )o'7an5, de7ends lar3el5 on the 'anner o4 intera)tion (et;een e)ono'5 and s)ienti4i) and resear)h institutions, ;hi)h are ele'ents o4 )olle)tive s5ste' o4 )reatin3 and usin3 kno;led3e and te)hnolo3ies that are used. Iala'on, D. 9-00-:: Ba)ionalni inova)ijski sustav kao i<vor 3eneriranja, aku'ula)ije, di4u<ije i ka7itali<a)ije <nanja, Poslovno&inova)ijski )entar Hrvatske O MC6R=, Aa3re(, 77. .
13 14

14

develo7 o4 'ore e44i)ient e)ono'5, )o'7etitive in the 3lo(al 'arket, i'7rove'ent o4 national e)ono'5 i'a3e and a)hieve'ent o4 e)ono'i) and overall ;ell&(ein3. Fhere4ore, the o(je)tives o4 'ana3in3 intelle)tual )a7ital o4 the national e)ono'5 are 'ani4old and )an (e su''ari<ed into 4our 'ain 3rou7s 9I)he'e -:: 7oliti)al, so)ial, e)ono'i) and 'arketin3 o(je)tives.

15

I)he'e -: =(je)tives o4 intelle)tual )a7ital 'ana3e'ent at the 'a)ro level

Iour)e: authors

sendin3 7ositive 'essa3es a(out the state

E(*n*/i( Mar2%)in4

e)ono'i) 3ro;th and develo7'ent stron3 3lo(al i'a3e and s5'7ath5o4 the 7u(li)

16

RESULTS RESULTS

S*(ia,

R%IH+FI R%IH+FI

intelle)tu intelle)tu al )a7ital al )a7ital 'ana3e 'ana3e '. '.

CILJEVI CILJEVI

P*,i)i(a,

in)rease o4 standards and Eualit5 o4 li4e, in)rease o4 national C6

9 .*,i)i(a, .r%+)i4% 9 .*,i)i(a, .r%+)i4% an1 .*3%r an1 .*3%r 9 +*(ia, 3%,'ar% 99 +*(ia, 3%,'ar% /a(r*%(*n*/i( 9 /a(r*%(*n*/i( +)abi,i)& +)abi,i)& 9%(*n*/i( 9%(*n*/i( (*/.%)i)i6%n%++ (*/.%)i)i6%n%++ in 4,*ba, /ar2%) in 4,*ba, /ar2%)

Io, ;ith the intelle)tual )a7ital 'ana3e'ent o4 national e)ono'5 the 4ollo;in3 )an (e a)hieved: 7ositive i'a3e o4 the )ountr5, and in that res7e)t also a stron3 re7utation and 7o;er o4 the state 97oliti)al 3oals:, hi3h standard and in)rease o4 Eualit5 o4 li4e o4 )iti<ens, ie, so)ial ;el4are 9so)ial 3oals:, e44i)ient e)ono'5, ;hi)h )reates added value, resultin3 e)ono'i) 3ro;th and develo7'ent and 'a)roe)ono'i) sta(ilit5 9e)ono'i) o(je)tives: and (etter 7ositionin3 o4 national e)ono'5 i'a3e and )o'7etitiveness on 3lo(al 'arket 9'arketin3 o(je)tives:. 6roatian 7ro(le' is the lo; level o4 e)ono'i) )o'7etitiveness due to inadeEuate level o4 intelle)tual )a7ital and its Eualit5 'ana3e'ent. Nreat dan3er 4or 6roatia is stron3er )o'7etition and 'ore ra7id develo7'ent o4 )o'7etitive )ountries 9transition e)ono'ies: in res7e)t o4 6roatia. #urther'ore, enterin3 into the %H, 6roatia ;ill 4a)e a stron3er )o'7etitive %H e)ono'5, ;hi)h ;ill seek ne; innovations as ;ell as 'ana3e'ent and 'arketin3 skills. 6roatia )an a))elerate its develo7'ent and )onver3en)e to %uro7ean and 3lo(al develo7'ent trends onl5 (5 in)reasin3 its )o'7etitiveness. Fo a)hieve this, it is ne)essar5 to 3et involved in )ourses o4 ne; e)ono'5 as Eui)kl5 as 7ossi(le, ie to develo7 ne; te)hnolo3ies, i'7rove 7ro)esses and )reate 7rodu)ts and servi)es o4 hi3her added value. Fhis in turn reEuires e44i)ient 'ana3e'ent o4 intelle)tual )a7ital. Ke5 assu'7tions 4or the i'7le'entation o4 the )on)e7t o4 intelle)tual )a7ital 'ana3e'ent are: 7oliti)al leaders ;ho have a )lear vision and a(ilit5 to 'ana3e )han3es and understand the i'7ortan)e o4 kno;led3e and intelle)tual )a7ital in the 'odern e)ono'5, Eualit5 develo7'ent strate35 9intelle)tual )a7ital should (e a (asi) resour)e o4 national e)ono'5 develo7'ent:, )reatin3 7u(li) 7oli)5, so)ial )li'ate and le3islation that ;ill en)oura3e the )reation o4 value&added 9li4e&lon3 learnin3, )reativit5, innovation, kno;led3e net;ortin3, develo7'ent o4 edu)ation and s)ien)e s5ste', linkin3 s)ienti4i) resear)h resour)es ;ith other 7arts o4 the so)io&e)ono'i) s5ste': invest'ent in hi3h te)hnolo35 industries and so)ial in4rastru)ture 9'ainl5 edu)ation, s)ien)e and resear)h: Eualit5 'ana3ers,
17

)han3e o4 (usiness 'odels and )or7orate 'ana3e'ent and or3ani<ational and te)hnolo3i)al )han3es in enter7rises and institutions 9'ana3e'ent o4 in4or'ation and 7ro)esses:.

Fhere4ore, the su))ess4ul i'7le'entation o4 intelle)tual )a7ital 'ana3e'ent )on)e7t in 6roatian e)ono'5 reEuires 7ro4ound so)ial )han3es. %s7e)iall5 those in 7oliti)s, s)ien)e and (usiness 'ana3e'ent. :. CONCLUSION Fhe toda5Gs 3lo(al (usiness ;orld is o7erated (5 a Be; %)ono'5, and it is (ased on a 4unda'ental )han3e in the stru)ture o4 the e)ono'5, ;hi)h is trans4or'ed 4ro' an industrial to an in4or'ation, in ;hi)h the 7o;er o4 the intan3i(le is )ontinuousl5 3ro;in3. Cn this re3ard, the share o4 total invest'ent in kno;led3e&(ased e)ono'5 is in)reasin3. Musiness su))ess in the ne; e)ono'5 in)reasin3l5 de7ends on intan3i(le 4a)tors su)h as Eualit5, s7eed, 4le$i(ilit5, desi3n, i'a3e, and es7e)iall5 & the in4or'ation and kno;led3e, ie its e)ono'i) relevant 4or' & the intelle)tual )a7ital. Fhere4ore, it is a(out 3ro;th and develo7'ent in ;hi)h 7rodu)ts )ontain 'ore and 'ore intelle)tual )o'7onent, the transition 4ro' e)ono'ies o4 s)ale in the kno;led3e&(ased e)ono'5. Cn 'ost develo7ed e)ono'ies o4 the ;orld 'ore than hal4 o4 NDP is (ased on kno;led3e. Fhus, survival and develo7'ent o4 enter7rises on 3lo(al 'arket, and thus the develo7'ent o4 national e)ono'5 and the 4uture o4 ever5 )ountr5 in the 'odern ;orld de7ends on intelle)tual )a7ital at its dis7osal. Cntan3i(le values 9intelle)tual )a7ital: are (e)o'in3 'ore i'7ortant (oth 4or 7rodu)tivit5 and )o'7etitiveness o4 a )o'7an5, and 7rodu)tivit5 and )o'7etitiveness o4 national e)ono'ies. Fhe develo7'ent and 7ro3ress o4 individual )ountr5 ;ill de7end on ho; it develo7ed a kno;led3e&(ased e)ono'5 (e)ause the kno;led3e&(ased e)ono'5 'odel 7rovides the (est o7tions 4or dealin3 ;ith ne; 3lo(al environ'ent. 6ountries that (uild a kno;led3e&(ased e)ono'5 9invest the 'ost in kno;led3e and (est 'ana3e intelle)tual )a7ital: are the 'ost )o'7etitive e)ono'ies and have 'ost 4orei3n invest'ent, and 3ain 3reat 7otential 4or )ontinuous in)rease in livin3 standards, Eualit5 o4 li4e and so)ial
18

;ealth. Kno;led3e has (e)o'e the drivin3 4or)e o4 develo7'ent o4 ea)h so)iet5, ;hose 7rin)i7al ai' is to in)rease the ;el4are o4 its )iti<ens. Cntelle)tual )a7ital, as an ele'ent o4 the (usiness is kno;n 4or 'an5 5ears. Ho;ever, the )on)e7t o4 (usiness 'onitorin3 (ased on intelle)tual )a7ital ;as develo7ed in the 1..0es. Ke5 4a)tors o4 national intelle)tual )a7ital are: hu'an )a7ital, users )a7ital, 7ro)ess )a7ital, and rene;al and develo7'ent )a7ital. 6ountries that ;ere adeEuatel5 oriented to the ne; e)ono'5 re)orded ra7id e)ono'i) 3ro;th and earned 4inan)ial 3ains. Cn this re3ard, a need to assess develo7'ent o4 kno;led3e&(ased e)ono'5 arose. Fo assess the develo7'ent o4 kno;led3e&(ased e)ono'5 in a )ountr5, there )an (e used the ke5 indi)ators in 4our do'ains: te)hnolo3i)al, industrial, e)ono'i) and so)ial. Cnnovation stren3thenin3 in the %uro7ean Hnion has the 7riorit5 status and there4ore the %H has develo7ed a 'ethodolo35 4or 'onitorin3 innovation throu3h %uro7ean Cnnovation I)ore(oard 9%CI:. %CI )ontains 1. indi)ators, ;hi)h are divided into 4our 3rou7s: hu'an resour)es 4or innovation, )reation o4 ne; kno;led3e, trans4er and a77li)ation o4 kno;led3e, and also innovative 4inan)in3 and 'arket. Cn ne; e)ono'5, ke5 indi)ators o4 3eneral develo7'ent and ;ealth o4 a )ountr5 and an indi)ator o4 survival and develo7'ent o4 enter7rises on 3lo(al 'arket are: the level and use o4 kno;led3e o4 its 7o7ulation and develo7'ent o4 in4or'ation s5ste', and the5 in turn de7end on develo7'ent o4 s)ien)e, Eualit5 o4 s)ienti4i) and edu)ational s5ste's and their )oheren)e ;ith e)ono'5. Dodern nation, as a so)iet5, )an survive and 7ros7er onl5 i4 it as a ;hole )ontinues to )o7e ;ith ne)essar5 kno;led3e and 7rodu)es ne; kno;led3e. Fhat is ;h5 investin3 in edu)ation, li4elon3 learnin3 and the inte3ration o4 s)ien)e and the e)ono'5 (e)a'e a ke5 4a)tor o4 e)ono'i) develo7'ent and 3eneral 7ros7erit5 o4 ever5 )o''unit5. Cntelle)tual )a7ital 'ana3e'ent o(je)tives o4 the national e)ono'5 are 'ani4old and )an (e su''ari<ed in 4our 'ain 3rou7s: 7oliti)al, so)ial, e)ono'i) and 'arketin3 o(je)tives. 8ith the intelle)tual )a7ital 'ana3e'ent o4 national e)ono'5 the 4ollo;in3 )an (e a)hieved: 7ositive i'a3e o4 the )ountr5, and in that res7e)t also a stron3 re7utation and 7o;er o4 the state 97oliti)al 3oals:,
19

hi3h standard and in)rease o4 Eualit5 o4 li4e o4 )iti<ens, ie so)ial ;el4are 9so)ial 3oals:, e44i)ient e)ono'5, ;hi)h )reates added value, resultin3 e)ono'i) 3ro;th and develo7'ent and 'a)roe)ono'i) sta(ilit5 9e)ono'i) o(je)tives: and (etter 7ositionin3 o4 national e)ono'5 i'a3e and )o'7etitiveness on 3lo(al 'arket 9'arketin3 o(je)tives:.

Cntelle)tual )a7ital in)reases the value and the tan3i(le (ene4it o4 ever5 so)iet5 and (usiness s5ste', onl5 i4 it is kno;in3l5 )reated and e44e)tivel5 'ana3ed, and 7rereEuisite 4or this is adeEuate environ'ent and )o'7etent 'ana3ers. #or intelle)tual )a7ital to (e)o'e a (asi) develo7'ent resour)e o4 national e)ono'5, in ter's o4 environ'ent, or3ani<ational, s)ienti4i) and 7oliti)al 7re)onditions should (e 4ul4illed. Pu(li) 7oli)ies that sti'ulate the o7enness o4 e)ono'5 and so)iet5 are )ru)ial in order to sti'ulate kno;led3e )reation, and 4or its e$7ansion in order to develo7 the kno;led3e&(ased e)ono'5. #or su))ess4ul i'7le'entation o4 intelle)tual )a7ital 'ana3e'ent )on)e7t in the 6roatian e)ono'5, 7ro4ound so)ial )han3es are reEuired. %s7e)iall5 those in 7oliti)s, s)ien)e and (usiness 'ana3e'ent.

REFERENCES &ere is the reference for a Book$ Ma(i, D. 9-00.:: Intelektualni kapital u funkciji korporativnog i id!a uslu!ni" djelatnosti 9do)toral %kono'ski 4akultet Iveu,ili1ta u Rije)i, Rijeka %dvinsson, +. 9-00 :: Korporacijska longituda, Di44ero, Aa3re( Dujani, D., Iunda, D., Arili, B. 91..?:: $leksi%ilnost i adapti%ilnost# C.M.6.6., Rijeka Bordstro', K., Ridderstrale, P. 9-00-:: $unky Business, Di44ero, Aa3re(
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unapreenja dissertation:#

Borth, D. 91..0:: Institutions# Institutional C"ange# and &cono ic 'erfor ance, Hniversit5 Press, 6a'(rid3e Puli, A., Iunda, D. 9-001:: Intelektualni kapital# C.M.6.6., Rijeka Iala'on, D. 9-00-:: (acionalni inovacijski sustav kao i)vor generiranja# aku ulacije, difu)ije i kapitali)acije )nanja# Poslovno&inova)ijski )entar Hrvatske O MC6R=, Aa3re( Iria, 0., I7re'i, D. 9-000:: Infor acijsko uspje"a, Iiner3ija, Aa3re( &ere is the reference for an Edited Book$ Ma(i, D. 9-00!:: *pravljanje intelektualni kapitalo + klju,na funkcija unapreenja i id!a uslu!ni" ko panija, in Nr(a), M., Deler, D., ed.: Darketin3 u dru1tvu <nanja i suvre'enoj 7oslovnoj stvarnosti, %kono'ski 4akultet Iveu,ili1ta u Rije)i, 6R=DAR, Rijeka, 77. 1/5&1?! Dra3i,evi, D. 9-00-:: -nanje kao te eljni strate.ki resurs /01 stolje2a 3i slu,aj 4rvatske5, in Iunda, D., ed.: Ananje & te'eljni ekono'ski resurs, %kono'ski 4akultet Rijeka, Rijeka Kolakovi, D. 9-00-:: Teorijske osnove koncepcije intelektualnog kapitala, in Iunda, D., ed.: Ananje & te'eljni ekono'ski resurs, %kono'ski 4akultet Rijeka, Rijeka &ere is the reference for a 'ournal (rticle$ +ev, M. and Aaro;in, P. 91...:: T"e %oundaries of financial reporting and "ow to e6ted t"e , Pournal o4 A))ountin3 Resear)h, 0ol. ?, Bo. -, 77. 5 & !5 Puli, A. 9-005:: 7enad! ent u dr!avni tvrtka a i institucija a valja educirati o ekono iji )nanja, HNK Cn4o, Hrvatska 3os7odarska ko'ora, 77. Intelektualni kapital )ajednica# nacija# regija i gradova 9-005:, Cntelektualni ka7ital, Hrvatska 3os7odarska ko'ora, 77. 25
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te"nologijo

do poslovnog

&ere is the reference for an !nternet )esource$ Iala'on, D. 9-00-:: (acionalni inovacijski sustav kao i)vor generiranja# aku ulacije# difu)ije i kapitali)acije )nanja, htt7:>>;;;.hdi.'ultilink.hr>'aterijali>-00-J0/J1-&Hrvatski&dani&Cnterneta& Rijeka.77t, 9a))essed 12 Pul5 -00.: Iunda, D. 9-00 :: 8italna to,ka ekono ije je )nanje# a ne postrojenje , htt7:>>;;;.novilist.hr, 9a))essed 5 A7ril -00..: onje, 0. 9-001:: I)a)ov 9nove ekono ije:: ;d ra,unala i Interneta do elektronskog novca, htt7:>>;;;.ekono'ija'oderna.hr, 9a))essed 15 Bove'(er -00.: var), P. 9-005:: <ospodarstvo )nanja: -a.to )nanje u 4rvatskoj nije ra)vojni resurs=, htt7:>>;;;.3os7odarstvo<nanja.hr>'edia>do)<><nanje.7d4, 9a))essed 1-. =)to(er -010: 0uji, 0. 9-00-:: *pravljanje intelektualni kapitalo , htt7:>>;;;.4th'.uniri.hr>inde$.7h7Q o7tionR)o'J)ontentSvie;Rarti)leSidR 0?SCte'idR-5? 9a))esed 1! Da5 -00/: Corporate 8enturing &uropean Activity Report 9-00/:, htt7:>>;;;.ev)a.)o'>t'7lJ.JartJ!JattJ/5!.7d4 , 9a))esed 2 =)to(er -00.: 4rvatska >?1 na glo%alnoj ljestvici konkurentnosti 9-011:, htt7:>>;;;.;e4oru'.or3>issues>3lo(al&in4or'ation&te)hnolo35>inde$.ht'l, 9a))esed . Da5 -011: ;&C@ Report 9-00-:, htt7:>>;;;.oe)d.or3J-J1e.7d4, 9accesed 2 =)to(er -00.: Towards a Knowledge Based &cono y 9-00-:, htt7:>>;;;.oe)d.or3>7u(li)ations, 9a))esed -0 =)to(er -00.: *(CTA@# $@I and International 7onetary $und# 8orld %)ono'i) =utlook Data(ase 9-005:, htt7:>>;;;.un)tad.or3>4distatisti)s, 9a))esed -0 A7ril -00.:
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8ara!din ispred -agre%a 9-011:, htt7:>>;;;.(anka'a3a<ine.hr>Baslovni)a>Hrvatska>ta(id>10->0ie;>Details>C te'CD>/.1 ?>ttl>0ara<din&is7red&Aa3re(a>De4ault.as7$, (accesed 17 May 2011). -nanje je otor ra)voja 9-005.:, ;;;.hina.hr, 9a))esed 1- De)e'(er -005:

-nanost kao poluga ra)voja 9-00/:, htt7:>>;;;.ri4in.)o'>root>tekstovi>tekst.)3iQidR!., 9a))esed 1- Au3ust -00.:

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