Why is Intellectual Capital Important and How to Develop it?

The concept of Intellectual capital is rapidly becoming an important asset for a business. Intellectual capital is the foundation of all leadership goals.

A very effective way to start is to decide on the broad-based audience and to decide on the focus through a leadership initiative. In these isolated times, any person can develop the necessary tools to generate a two-tiered intellectual capital

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1- Solution Focused: This intellectual capital is based on solutions. It’s all about clients getting specific results.

People who develop this type of intellectual capital follow the 4 Ws, what, when, why and where.

2- Perspective Focused: This capital helps in defining current industry trends, insights, and forecasts. What makes it essential for this DNA age is that it integrates viable approaches in order to generate many needs results.

In order for Intellectual capital to work 4 key things are always required

  1. A common goal
  2. A culture that encourages competency by removing micromanaging.A culture that defines meaningful and challenging work.
  3. Open communication
  4. Shared gains

These 4 requirements help develop these 2 techniques that can help boost your idea generation

1- Concept Generation

Intellectual capital as its base is the identification of new concepts or a combination of already developed concepts. For example, Brainstorming is one of the widely and effectively employed concept-generation techniques.

As of this moment, millions of scientists are brainstorming in order to find a cure as well as a way to sustain its people from this epidemic. Brainstorming helps remove possibilities that might harm the solution in the long run.

2- Market research

Quantified research is often used to identify, develop and refine intellectual capital. As of this moment, physical marketing is a losing bet whereas digital marketing has been taken up by the storm.

That’s where companies are utilizing freebies in order to entice users towards their platform.
Epic Games have been doing that for some time by giving AAA PC games for free, a lot of companies are doing this for generating future leads and the social responsibility effect.

This type of research comes with 4 key functions which will help you develop and refine your intellectual capital these include

1- Validation: When possibilities raise questions validation helps reinforce and generate a better outcome.

2- Quantification: When research meets maths. Numbers help generate perspectives

3- Data Mining: By mining, the raw information users can synthesize cohesion which in return creates desired results. for e:g the moment china gave the genetic code for COVID-19 startups all over the world were able to generate testing parameters and kits to be used to help people around the world.

4- Intrepation: The raw information has no bearing without a medium .it requires proper interpolation this is where you develop opinions that are based on facts than on assumptions. These opinions lead to innovations and outcomes.

In summary, I hope these skills help develop you for the future which looks very bleak. For the first time, the whole world is fighting a war not for money but for sustainability.

Always remember “things will get worse before they get better”.

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