Development of the intellectual capital of an enterprise as a competitive advantage in production management

Economic Annals-ХХI: Volume 188, Issue 3-4, Pages: 134-140

Citation information:
Voronkova, O., Stepanenko, O., Balamirzoev, N., Makarenko, S., & Nurumov, A. (2021). Development of the intellectual capital of an enterprise as a competitive advantage in production management. Economic Annals-XXI, 188(3-4), 134-140. doi:

Olga Voronkova
D.Sc. (Economics),
Professor of the Department of Management,
Business Organization and Innovation,
Altai State University
61 Lenin Ave., Barnaul, 656049, Russian Federation

Olga Stepanenko
PhD (Sociology),
Associate Professor of the Jurisprudence Disciplines Department,
Irkutsk National Research Technical University
83 Lermontov Str., Irkutsk, 664074, Russian Federation

Nazim Balamirzoev
PhD (Economics),
Associate Professor of the Department of Finance and Accounting,
Daghestan State Technical University
70 Imam Shamil Ave., Makhachkala,
Republic of Dagestan, 367026, Russian Federation

Svetlana Makarenko
PhD (Economics),
Associate Professor,
Department of Audit,
Kuban State Agrarian University named after I. T. Trubilin
13 Kalinin Str., Krasnodar, 350044, Russian Federation

Aldanysh Nurumov
D.Sc. (Economics),
Finance Academy of the Ministry of Finance of the Republic of Kazakhstan
25 Yesemberlin Str., Nur-Sultan (Astana), 010011, Kazakhstan

Development of the intellectual capital of an enterprise as a competitive advantage in production management

Abstract. The main purpose of the study is to investigate the development of the intellectual capital of an enterprise as a competitive advantage of industrial management. Taking into consideration theoretical studies and overviews of the experience of Russian firms today, it can be stated that Russian businesses are primarily based on the current conditions for the survival of companies, rather than on generating potential business opportunities, which does not lead to the creation of intangible assets and the formation of intellectual capital. At the same time, the majority of managers share the opinion of scientists that the formation and creation of the intellectual capital of an organization is a key factor in ensuring the company’s strategic success. A business that pays more attention to the growth of intellectual resources and production of intangible assets has greater competitive advantages. Based on the findings of different empirical studies, it can be argued that the organization’s management perceives intellectual capital as a component that ensures success, competitive advantage, and, ultimately, the company’s economic development.

Keywords: Intellectual Capital; Intangible Assets; Innovation; Knowledge Growth; Competitiveness

JEL Classifications: E22; F21; F32

Acknowledgements and Funding: The authors received no direct funding for this research

Contribution: The authors contributed equally to this work.



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Received 11.03.2021
Received in revised form 2.04.2021
Accepted 10.04.2021
Available online 10.05.2021