Intellectual capital in the knowledge-based economy

Abstract

The considerations provided herein focus on intellectual capital as a concept that is gaining increasing significance in the functioning of business and public entities in the era of the knowledge-based economy. This paper aims to identify differences in the meaning and measurement of intellectual capital in the private and public sectors. In the light of the growing interest, triggered by marketisation, in the implementation of business solutions in the public sector, this paper provides the characteristics and comparative analysis, including differences in the use, of intellectual capital in both sectors. Regarding the public sector, the paper also points out potential advantages that reveal themselves, in particular, in relation to a change in the existing public administration officer and authority models that is based on the practice of business orientation towards the needs of a client in the process of providing public services.