Intellectual Capital as a Key Factor in the Automotive Industry

Globalization, rapidly changing technologies and stronger competition put pressure on businesses to increase innovation rates. Knowledge and intellectual capital are considered to be a source of strategic importance and an engine for the economic development of the business environment. In understanding of the authors of the paper, intellectual capital is considered to be the key asset of an enterprise in today’s dynamically developing, knowledge-intensive and informative environment. The automotive industry is a sector based on knowledge, new knowledge, international cooperation, human resource development and innovation, which are one of the key features of the automotive industry. The aim of the article is to point out the relationship between intellectual capital and innovations in the automotive industry, as exemplified by Volkswagen Slovakia, a.s.