The business model and intellectual capital in the value creation of firms

Abstract

Purpose The purpose of this paper is to analyze business model (BM) and intellectual capital (IC) of a firm with a focus on their common elements. The common bases in the field of strategic management for these two concepts are, among others, resource-based view, knowledge-based view, intellectual capital-based view, dynamic capabilities, and configurational approach. It indicates areas in which these two concepts can benefit from each other, e.g. in classification of components, their configuration, or dynamic approach. This general review examines the following research questions: What are the common concepts for the BM and IC? What are their common components? What does the dynamic approach to IC and BM mean? Design/methodology/approach The Web of Science™ Core Collection database was selected for the period 1975-2014 and the Journal of Intellectual Capital (JIC) indexed in Scopus® (Elsevier) was incorporated into the analysis for the period it had been indexed by Scopus (1990-2015). These databases were selected because they offer a reliable overview of historical data regarding journals, articles, and citation impact. The key filter criteria were the presence of the phrases “business model” or “intellectual capital” in the article title, abstract, and key words in order to narrow down the selection to the most appropriate results for the research area. Findings This paper investigates two concepts from the point of view of their underpinnings in management, definitions, and components, as well as value creation. Analysis of the foundations in management allows the author to present a cohesive model, which depicts a comprehensive approach to analysis of these two concepts. Many common elements have been identified and investigated. Originality/value First, it provides an indication of the common underpinnings of the analyzed concepts within the framework of strategic management and proposals for their development toward resource, knowledge, and IC accumulation, combination and heterogeneity-based views. Second, it presents an analysis of the BM and IC components, showing common elements between them. Third, it provides a description and analysis of dynamic view of BM and IC components in a value creation context.

Intellectual Capital, Financial Performance and Companies’ Sustainable Growth: Evidence from the Korean Manufacturing Industry

“…H5a, H5b, and H5c are supported by the regression results as shown in model (5), indicating that CEE, HCE, and SCE have a significant and positive influence on companies' sustainable growth. Physical capital and HC make equal contributions to companies' sustainable growth.…”

“…In model (4), the coefficient on VAIC is significant and positive (β = 0.003, t = 17.641), supporting H4. The results in model (5) show that all three components of VAIC are also significantly positive. Similar to the results in Table 4, the adjusted R 2 value is greater in model (5) than that in model (4).…”

“…Therefore, in the present business environment, Korean manufacturing companies should keep close ties with their suppliers and customers in order to establish corporate reputation and maintain consumer loyalties [73]. (5) Korean manufacturing companies should also maintain their scale of liabilities at a reasonable level when financing intellectual assets in order to ensure corporate long-term and sustainable development.…”

“…IC is considered a driver of corporate competitiveness and financial sustainability [2]. Based on the resource-based view (RBV), companies with valuable and scarce resources are more likely to obtain sustainable competitive advantage [3][4][5]. These resources can enable companies to maintain human capital, improve processes, maintain contact with customers and suppliers, and produce greater innovation [6].…”

Intellectual Capital Performance of the Textile Industry in Emerging Markets: A Comparison with China and South Korea

“…Moreover, IC investment is increasingly crucial to companies that seek to achieve productivity and efficiency gains [8,9]. According to the resource-based view (RBV), valuable and scarce resources (e.g., knowledge, information technology, and intellectual skills) can enable companies to gain sustainable competitive advantage and accelerate superior performance [6,7,10].…”