Intellectual Capital as Strategy to Develop Dynamic SMEs. A Proposal Model for Colombian SMEs

This paper seeks to contribute in the search for mechanisms that support firms in facing the challenges, uncertainty, and turbulence that characterize the markets in which they compete. Specifically, this work focuses on small and medium enterprises (SMEs), given their relevance at the international level, for their contribution to GDP and employment creation. Particularly, because of their smaller size and low possession of tangible resources, they are vulnerable to the risks of the economic cycle. This forces them to develop capabilities to cope with these challenges and ensures their survival in the long term. In this sense, the development of an adaptive dynamic capability constitutes one of the alternatives to achieve this. Given that these capabilities are located within the intangible assets of the organization, this work proposes, their combination as variables of the Intellectus Model components in which are integrated to achieve the required organizational "dynamization". Based on a review of the literature of the dynamic capabilities and intellectual capital approach, this research proposes the variables of the main components of intellectual related with adaptive capability of organization. This results in a model adapted to the specific conditions of the Colombian SMEs, allowing its dynamization and adaptation to highly changing environments.