Intellectual Capital refers to the intangible assets of an organization that contribute to its value and competitive advantage. This includes knowledge, skills, experience, and relationships that employees possess, as well as the organization's processes and innovations. It is often categorized into three main components: human capital, structural capital, and relational capital.
Human capital encompasses the expertise and abilities of the workforce, while structural capital includes the systems and processes that support operations. Relational capital involves the relationships with customers, suppliers, and other stakeholders. Together, these elements play a crucial role in driving an organization's success and growth.