Intellectualcapital is a core element of any organization and determines itssuccess. Intellectual capital refers to the intangible assets of anorganization and entails human capital, structural capital, andrelations with external stakeholders. Samsung has an elaborate andeffective way of managing its intellectual capital. Much of thecompany’s excellent performance attributes to the company’srecognition and management of its intellectual capital, which givesit a competitive edge in the global market.
Withan established global brand image, Samsung endeavors to maintain itsmarket leadership status. For instance, Samsung commits itself toproducing excellent designs for its gadgets. Some of these designsfocus on meeting the demands of the high-end consumer market. As aresult, has positioned itself as the most soughtelectronic brand and continuously maintains its position. Similarly, recognizes the value and capability of its humancapital in innovation. invests heavily in productresearch to come with innovations on its product line. Theinvestments include a $6 billion annual budget on allocated forresearch and development of multiple design labs. With adequateresources at hand, its human resource can conduct extensive research,leading to high-level technological innovations.
Inthe same vein, Samsung maintains an effective management of itscustomer and corporate relations. Samsung has close responsiverelations with its customers. All over the world, the company hasservice centers to cater to the needs of its customers. Besides, thecompany has an online support team that customers can access anytime.Likewise, the company has a good working relation with its partners,especially the dealers. Samsung makes it easy for individuals to openSamsung franchise outlets. The application process is less stringent,and the company trains and continuously offers necessary support toits dealers.