An Improved Intellectual Capital Management Method for Selecting and Prioritizing Intangible-Related Aspects: A Case Study of Small Enterprise in Thailand
This study develops a new integrated approach for improving deficiencies relating to executives’ intuitive or illogical decisions, mainly found in past intellectual capital management (ICM) methods. To simultaneously rectify several flaws, the process model of intellectual capital (IC), a traditiona...
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-02-01
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| Series: | Mathematics |
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| Online Access: | https://www.mdpi.com/2227-7390/10/4/626 |
| _version_ | 1797478337367506944 |
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| author | Ratapol Wudhikarn Danaitun Pongpatcharatorntep |
| author_facet | Ratapol Wudhikarn Danaitun Pongpatcharatorntep |
| author_sort | Ratapol Wudhikarn |
| collection | DOAJ |
| description | This study develops a new integrated approach for improving deficiencies relating to executives’ intuitive or illogical decisions, mainly found in past intellectual capital management (ICM) methods. To simultaneously rectify several flaws, the process model of intellectual capital (IC), a traditional ICM method, is integrated using decision science methods—the analytic network process (ANP) and quality function deployment (QFD). The process model of IC is adopted as a core procedure of the proposed ICM approach. ANP is integrated to improve the ability to consider relationships among the IC critical factors and their impacts, while QFD is included to facilitate the systematic consideration and identification of correlations, linkages, and impacts between all IC-related elements from the business concept to strategic plans. The proposed method was applied to two case studies in one real enterprise in Thailand. The results of the implementation reveal the priorities of all IC-related aspects, and the first priority of key success factors (KSFs), key performance indicators (KPIs), and action plans (APs) are all associated with the organization in the structural capital dimension. The results demonstrate that the method may offer advantages with respect to the conceptual expectations and may prioritize critical IC factors and identify their weights. Furthermore, the improved method could indicate the correlations and impacts between related elements, such as critical factors and associated indicators. This study proposes a new comprehensive and systematic management framework by integrating different concepts—decision science methods and the ICM method. To the best of the authors’ knowledge, this improved approach has not been explored or proposed in earlier studies. |
| first_indexed | 2024-03-09T21:30:29Z |
| format | Article |
| id | doaj.art-6b09975af95f46d09e4bafcccf1f99e2 |
| institution | Directory Open Access Journal |
| issn | 2227-7390 |
| language | English |
| last_indexed | 2024-03-09T21:30:29Z |
| publishDate | 2022-02-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Mathematics |
| spelling | doaj.art-6b09975af95f46d09e4bafcccf1f99e22023-11-23T20:57:41ZengMDPI AGMathematics2227-73902022-02-0110462610.3390/math10040626An Improved Intellectual Capital Management Method for Selecting and Prioritizing Intangible-Related Aspects: A Case Study of Small Enterprise in ThailandRatapol Wudhikarn0Danaitun Pongpatcharatorntep1Knowledge and Innovation Management, College of Arts, Media and Technology, Chiang Mai University, Chiang Mai 50200, ThailandKnowledge and Innovation Management, College of Arts, Media and Technology, Chiang Mai University, Chiang Mai 50200, ThailandThis study develops a new integrated approach for improving deficiencies relating to executives’ intuitive or illogical decisions, mainly found in past intellectual capital management (ICM) methods. To simultaneously rectify several flaws, the process model of intellectual capital (IC), a traditional ICM method, is integrated using decision science methods—the analytic network process (ANP) and quality function deployment (QFD). The process model of IC is adopted as a core procedure of the proposed ICM approach. ANP is integrated to improve the ability to consider relationships among the IC critical factors and their impacts, while QFD is included to facilitate the systematic consideration and identification of correlations, linkages, and impacts between all IC-related elements from the business concept to strategic plans. The proposed method was applied to two case studies in one real enterprise in Thailand. The results of the implementation reveal the priorities of all IC-related aspects, and the first priority of key success factors (KSFs), key performance indicators (KPIs), and action plans (APs) are all associated with the organization in the structural capital dimension. The results demonstrate that the method may offer advantages with respect to the conceptual expectations and may prioritize critical IC factors and identify their weights. Furthermore, the improved method could indicate the correlations and impacts between related elements, such as critical factors and associated indicators. This study proposes a new comprehensive and systematic management framework by integrating different concepts—decision science methods and the ICM method. To the best of the authors’ knowledge, this improved approach has not been explored or proposed in earlier studies.https://www.mdpi.com/2227-7390/10/4/626intellectual capital managementmulti-criteria decision makingthe process modelanalytic network processquality function deployment |
| spellingShingle | Ratapol Wudhikarn Danaitun Pongpatcharatorntep An Improved Intellectual Capital Management Method for Selecting and Prioritizing Intangible-Related Aspects: A Case Study of Small Enterprise in Thailand Mathematics intellectual capital management multi-criteria decision making the process model analytic network process quality function deployment |
| title | An Improved Intellectual Capital Management Method for Selecting and Prioritizing Intangible-Related Aspects: A Case Study of Small Enterprise in Thailand |
| title_full | An Improved Intellectual Capital Management Method for Selecting and Prioritizing Intangible-Related Aspects: A Case Study of Small Enterprise in Thailand |
| title_fullStr | An Improved Intellectual Capital Management Method for Selecting and Prioritizing Intangible-Related Aspects: A Case Study of Small Enterprise in Thailand |
| title_full_unstemmed | An Improved Intellectual Capital Management Method for Selecting and Prioritizing Intangible-Related Aspects: A Case Study of Small Enterprise in Thailand |
| title_short | An Improved Intellectual Capital Management Method for Selecting and Prioritizing Intangible-Related Aspects: A Case Study of Small Enterprise in Thailand |
| title_sort | improved intellectual capital management method for selecting and prioritizing intangible related aspects a case study of small enterprise in thailand |
| topic | intellectual capital management multi-criteria decision making the process model analytic network process quality function deployment |
| url | https://www.mdpi.com/2227-7390/10/4/626 |
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