Intelektualni kapital kao determinanta unapređenja konkurentnosti preduzeća u Republici Srbiji

Market globalization and technological changes lead to transformation of industrial economies into knowledge based economies, i.e. shift focus from physical to intellectual resources. Consequently, the most competitive economies in the world are those that base their competitiveness on the unlimited resource – knowledge. In the knowledge economy intellectual resources are crucial for creating value, achieving and sustaining competitive advantage. Due to the importance of intellectual capital in contemporary conditions it is necessary to measure the performance of intellectual capital to determine its contribution in enhancing microeconomic and macroeconomic competitiveness and draft adequate proposal of measures in creation and implementation of politics for improving competitiveness. The main objective of this research is to determine the impact of intellectual capital, particularly the efficient usage of intellectual capital, on the competitiveness of enterprises in the Republic of Serbia, especially on financial and market performances of enterprises, but also to overview the impact of intellectual capital on national competitiveness in the EU countries and the Republic of Serbia, by designing composite Index of Intellectual Capital. The analysis of intellectual capital and its components, as determinants in creating value and competitive advantage of enterprises, has revealed that efficient usage of intellectual capital can significantly influence the efficiency increase, especially competitiveness improvement of enterprises in the Republic of Serbia. The designed composite Index of Intellectual Capital has revealed that the EU countries are heterogeneous regarding development of intellectual resources and that the Republic of Serbia lags behind them. Also, the analysis has showed that Index of Intellectual Capital represents significant determinant of competitiveness and economic growth in the EU countries and the Republic of Serbia. The analysis of the obtained results has identified the areas of the particular importance for directing measures that support development of intellectual resources. In that regard, some recommendations and measures have been designed in order to contribute to the development of intellectual resources and better usage of their potentials with the aim of improving competitiveness of enterprises and national economy in the future