Intellectual Capital as a Strategy for Achieving Company Competitive Advantage
Abstract
Free trade worldwide demands that every company that engages in business is open to competition. Business is the lifeblood of a country's economy. There will be a sale and purchase of goods and services that are mutually beneficial to impact economic growth with the business. For a company to win the business competition, it must create a competitive advantage by utilizing its creativity and performance with limited resources. An important factor in creating a competitive advantage is intellectual capital. Consequently, the objective of this research is to examine the use of intellectual capital as a strategy for creating a company's competitive edge in order to succeed in a global marketplace. The descriptive analysis method is used in this study, which takes a qualitative approach. According to the findings of the study, it has been demonstrated that organizations that have intellectual capital are more profitable and have better performance than companies that merely emphasize resources as the primary factor supporting the organization. In implementing intellectual capital as a competitive advantage strategy, the company can use the competency formula (buy, build, reward, bounce, bind, plus commitment (mindset development, opportunities for growth, dividends, community, work arrangement, and work impact).
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