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ABSTRACT
Measuring of the national intellectual capital is important for every nation because of its role in the creation of national wealth. During the time, different individuals and international organizations have tried to develop an appropriate methodology for measuring national intellectual capital. This article focuses on a model that was developed by Leif Edvinsson and Michael S. Malone for needs of companies. The model is Skandia Navigator, and it was widely accepted both by companies and academic community. After this enormous success, the authors decided to modify this model for measuring a national intellectual capital. Just as the previous model (for the companies), a national model has resulted to be a great success, and it was used for measuring intellectual capital of 44 countries. The model consists from five components: financial capital, market capital, process capital, human capital and renewable and developing capital that are placed in suitable time frame (past, present and future). The indicators used in the model can be divided in basic and specific for every country. Model has several concepts of implementation, and some of them are presented in this article.
Keywords: Financial Capital, Human Capital, Market Capital, Process Capital, Renewable and Developing Capital, Skandia Navigator.
1. INTRODUCTION
This article has seven chapters in first, and last chapters are introduction and conclusion and in between there are five chapters. Second chapter contains a short explanation of the relation between national wealth and national intellectual capital (theoretical and graphical presentation). After this explanation in the next third chapter, focus is on national intellectual capital and its essential components with the theoretical explanation of each of them. Brief presentation of models for measurement of national intellectual capital is in chapter four. Chapter five contains explanation of Skandia Navigator model and in this chapter two-case studies are elaborated. Next, the sixth chapter contains suggestions made by author related to introducing new indicators for use in measurement models based on Skandia Navigator.
2. THE ROLE OF INTELLECTUAL CAPITAL IN THE CREATION AND DEVELOPMENT OF THE NATIONAL WEALTH
In order to understand the relation between "national wealth" and "national intellectual capital," it is necessary to define this two main term. National wealth can be defined as "the sum, for the economy as a whole, of...