Business Performance Management Considering Intellectual Capital

There are changes in society, business environment is changing and new trends and concepts are being developed that enterprises should react to if they want to be successful. Enterprises try to improve their performance and business value using available resources. We can observe the growing importance of intellectual resources as an effective tool for business performance and increasing competitiveness. Intellectual capital includes all intangible business resources that create profits and business value. These resources are usually divided into human capital, structural capital and relational capital of a company. Consequently, it is necessary to manage companies and their performance in a new way and methods which can be used in order to evaluate these assets. This paper is focused on business performance measurement and management in order to increase business performance and competitiveness. In the paper, the approach of Czech enterprises to performance measurement and management is discussed on the basis of the author's empirical research. This research was carried out among Czech enterprises in 2012. Because different results were expected depending on the size of the enterprise, respondents were categorized into small, medium-sized and large enterprises. Most Czech enterprises have already established measurement and management systems of business performance. The research showed that enterprises assess their performance mostly based on methods using financial variables and indicators. In this regard, the paper aims to present an overview about the importance of intellectual capital for business management and business performance measurement on the basis of relevant literature sources. Intellectual capital can be measured and evaluated by different indicators or methods. Most intellectual capital measurement methods are difficult to apply and some methods are not very precise. But a system of performance measurement and management that would reflect effects of all business resources needs to be created. Every enterprise should choose an approach and an evaluation method that will best correspond to their needs, goals and current situation.