Managing Intellectual Capital in Serbia in the Process of the EU Integration

The development of modern communications and information technologies, deregulation and globalization of business, represent some of the key determinants of the macroeconomic and business environment. These changes, as well as the recession evident during the past five years followed by an increase in unemployment and fall in real incomes of the population have contributed to the sharpening of the competition, at both domestic and international markets. In such circumstances it becomes increasingly clear that only those companies that can achieve sustainable competitive advantage based on knowledge, creativity, innovation, motivation, skill and other abilities of employees to create and deliver superior value to consumers can survive and successfully develop. In this chapter, a paradigm of intellectual capital is discussed from the perspective of one of the main drivers of economic development, situation and requirements which are required from Serbia in this context. This chapter presents some empirical results of the basic characteristics of human capital in Serbia from the perspective of the impact of intellectual capital on the level of competitiveness of Serbian economy, as an important aspect of the inclusion of Serbia in the process of European economic integration.