FORMATIVE ASSESSMENT

Read the scenario below and answer ALL questions that follow

PROJECT SCENARIO

Intellectual capital refers to the intangible value of an organiastion's employees, skills, knowledge, and training that can provide a company with a competitive advantage. It encompasses all the non$-$monetary and physical resources that are partly or fully controlled by an organisation that creates value for an organisation.

Intellectual capital can be divided into three sub$-$categories: human capital, structural $($organisational$)$ capital, and relational capital. Human capital is the value that an employee provides to a company with their knowledge, skills, and expertise. Structural capital is the supportive non$-$physical infrastructure, processes, and databases of the organization that enables employees to function, such as patents, trademarks, organizational information systems, and software. Relational capital includes the relationships an organization has with customers, consumers, intermediaries, representatives, suppliers, partners, owners, lenders, and the like.

The basic aim of the intellectual capital management process is value creation for an organization, which becomes more important as organizations become more dependent upon intellectual resources. This process involves analyzing the

organization's strategy, and future desired strategic positions, defining the strategic intent of the organization, constructing a resource distinction tree, evaluating the quality and quantity of resources, deciding how the resources are to be deployed, identifying, and mapping transformations, analyzing and evaluating the effectiveness of the intellectual capital guide, and creating a performance management tool for tracking the efficiency with which value is created in the organisation. Assume you are the Information Management analyst at ICT Solutions, advise companies on the following.

Note: All answers to be based on a company of your choice.

QUESTION $1[40$ Marks$]$

Recommend ways to establish an intellectual capital strategy at a company of your choice.

Guideline $-$ At least five steps should be explained and related to a business of your choice.

Answer should be in essay format, honours degree standard and Add In$-$text referencing, Harvard style from scholar textbooks and journals