An Integrative Model of Crowdsourcing and Intellectual Capital on Effective Enterprise Renewal

Matea Zlatković Radaković – Faculty of Economics University of Banja Luka, Majke Jogivića 4, 78 000, Banja Luka, Republic of Srpska,
Bosnia and Herzegovina

Abstract: Faced with a changing business environment and increasing competition, enterprises have started looking for innovative solutions be­yond hierarch organizational boundaries. The community of crowds can be employed as a valuable factor in an enterprise’s innovation process to cre­ate value and upgrade its knowledge base. The present paper seeks to un­derstand the role of the crowdsourcing mechanism through the intellectu­al capital framework, resulting in a renewed knowledge base. The model was empirically tested using a data set obtained through a questionnaire fulfilled by representatives of enterprises in the Republic of Srpska, Bosnia and Herzegovina, using partial least squares structural equation modelling. The findings reveal that crowdsourcing causes significant linkages between intellectual capital dimensions among which crowdsourcing-human cap­ital and crowdsourcing-structural capital contribute more to enterprise re­newal of knowledge base. Research results could assist managers in strate­gic decisions in resource allocation in promoting and sustaining knowledge dissemination to increase the renewal capability of enterprises.

LIMEN Conference

9th International Scientific-Business Conference – LIMEN 2023 – Leadership, Innovation, Management and Economics: Integrated Politics of Research – SELECTED PAPERS, Hybrid (Graz University of Technology, Graz, Austria), December 7, 2023

LIMEN Selected papers published by the Association of Economists and Managers of the Balkans, Belgrade, Serbia

LIMEN Conference 2023 Selected papers: ISBN 978-86-80194-79-0, ISSN 2683-6149, DOI: https://doi.org/10.31410/LIMEN.S.P.2023

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission. 

References

Ali, M. A., Hussin, N., Flayyih, H. H., Haddad, H., Al-Ramahi, N. M., Almubaydeen, T. H., Hussein, S. A., & Hasan Abunaila, A. S. (2023). A Multidimensional View of Intellectu­al Capital and Dynamic Innovative Performance. Journal of Risk and Financial Manage­ment, 16(3), 139. https://doi.org/10.3390/jrfm16030139 

Bontis, N. (1998). Intellectual capital: an exploratory study that develops measures and models. Management Decision, 36(2), 63-76. https://doi.org/10.1108/00251749810204142 

Bontis, N., Ciambotti, M., Palazzi, F., & Sgro, F. (2018). Intellectual capital and financial per­formance in social cooperative enterprises. Journal of Intellectual Capital, 19(4), 712-731. https://doi.org/10.1108/JIC-03-2017-0049 

Buenechea-Elberdin, M., Sáenz, J., & Kianto, A. (2018). Knowledge management strategies, intellectual capital, and innovation performance: a comparison between high-and low-tech firms. Journal of Knowledge Management, 22(8), 1757-1781. https://doi.org/10.1108/JKM-04-2017-0150 

Cabrilo, S., & Dahms, S. (2020). The role of multidimensional intellectual capital and organ­izational learning practices in innovation performance. European Management Review, 17(4), 835-855. https://doi.org/10.1111/emre.12396 

Coelho, D. A., Nunes, F., & Vieira, F. L. (2018). The impact of crowdsourcing in product devel­opment: an exploratory study of Quirky based on the perspective of participants. Interna­tional Journal of Design Creativity and Innovation, 6(1-2), 114-128. https://doi.org/10.1080/21650349.2016.1216331 

Devece, C., Palacios, D., & Ribeiro-Navarrete, B. (2019). The effectiveness of crowdsourcing in knowledge-based industries: the moderating role of transformational leadership and or­ganisational learning. Economic research-Ekonomska istraživanja, 32(1), 335-351. https://doi.org/10.1080/1331677X.2018.1547204 

Eisenhardt, K. M., & Martin, J. A. (2000). Dynamic capabilities: what are they? Strategic Man­agement Journal, 21(10-11), 1105-1121. https://doi.org/10.1002/1097-0266(200010/11)21:10/11<1105::aid-smj133>3.0.co;2-e 

Hair Jr, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2022). A primer on partial least squares structural equation modeling (PLS-SEM)(3rd edition). Sage publications.

Inkinen, H., Kianto, A., Vanhala, M., & Ritala, P. (2017). Structure of intellectual capital–an in­ternational comparison. Accounting, Auditing & Accountability Journal, 30(5), 1160-1183. https://doi.org/10.1108/AAAJ-11-2015-2291 

Kianto, A., Hurmelinna‐Laukkanen, P., & Ritala, P. (2010). Intellectual capital in service‐and product‐oriented companies. Journal of intellectual capital, 11(3), 305-325. https://doi.org/10.1108/14691931011064563 

Lenart-Gansiniec, R. (2021). The effect of crowdsourcing on organizational learning: Evidence from local governments. Government Information Quarterly, 38(3), 101593. https://doi.org/10.1016/j.giq.2021.101593 

Liu, L., Zhang, J., Xu, J., & Wang, Y. (2022). Intellectual capital and financial performance of Chinese manufacturing SMEs: an analysis from the perspective of different industry types. Sustainability, 14(17), 10657. https://doi.org/10.3390/su141710657 

Maharani, I. A. K., Sukoco, B. M., Usman, I., & Ahlstrom, D. (2024). Learning-driven strate­gic renewal: systematic literature review. Management Research Review, 47(5), 708-743. https://doi.org/10.1108/mrr-05-2023-0377 

Malhotra, A., & Majchrzak, A. (2019). Greater associative knowledge variety in crowdsourcing platforms leads to generation of novel solutions by crowds. Journal of Knowledge Man­agement, 23(8), 1628-1651. https://doi.org/10.1108/JKM-02-2019-0094 

Martinez-Corral, A., Grijalvo, M., & Palacios, M. (2019). An organisational framework for analysis of crowdsourcing initiatives. International Journal of Entrepreneurial Behavior & Research, 25(8), 1652-1670. https://doi.org/10.1108/IJEBR-06-2018-0402 

McDowell, W. C., Peake, W. O., Coder, L., & Harris, M. L. (2018). Building small firm perfor­mance through intellectual capital development: Exploring innovation as the “black box”. Journal of Business Research, 88, 321-327. https://doi.org/10.1016/j.jbusres.2018.01.025 

Nonaka, I., & Takeuchi, H. (1995). The Knowledge-Creating Company. https://doi.org/10.1093/oso/9780195092691.001.0001 

Oliveira, M., Curado, C., Balle, A. R., & Kianto, A. (2020). Knowledge sharing, intellectual capital and organizational results in SMES: are they related? Journal of Intellectual Capi­tal, 21(6), 893-911. https://doi.org/10.1108/jic-04-2019-0077 

Palazzi, F., Sgrò, F., Ciambotti, M., & Bontis, N. (2020). Technological intensity as a moderat­ing variable for the intellectual capital–performance relationship. Knowledge and Process Management, 27(1), 3-14. https://doi.org/10.1002/kpm.1617 

Pasamar, S., Diaz-Fernandez, M., & de la Rosa-Navarro, M. D. (2019). Human capital: the link between leadership and organizational learning. European Journal of Management and Business Economics, 28(1), 25-51. https://doi.org/10.1108/ejmbe-08-2017-0003 

Patky, J. (2020). The influence of organizational learning on performance and innovation: a literature review. Journal of Workplace Learning, 32(3), 229-242. https://doi.org/10.1108/JWL-04-2019-0054 

Pavlidou, I., Papagiannidis, S., & Tsui, E. (2020). Crowdsourcing: a systematic review of the lit­erature using text mining. Industrial Management & Data Systems, 120(11), 2041-2065. https://doi.org/10.1108/IMDS-08-2020-0474 

Peris-Ortiz, M., Devece-Carañana, C. A., & Navarro-Garcia, A. (2018). Organizational learn­ing capability and open innovation. Management Decision, 56(6), 1217-1231. https://doi.org/10.1108/MD-02-2017-0173 

Rehman, S. U., Elrehail, H., Alsaad, A., & Bhatti, A. (2021). Intellectual capital and innovative performance: a mediation-moderation perspective. Journal of Intellectual Capital, 23(5), 998-1024. https://doi.org/10.1108/JIC-04-2020-0109 

Ringle, C. M., Wende, S., & Becker, J. M. (2022). SmartPLS 4. Oststeinbek: SmartPLS GmbH. J. Appl. Struct. Equ. Model

Ritala, P., Kianto, A., Vanhala, M., & Hussinki, H. (2023). To protect or not to protect? Renew­al capital, knowledge protection and innovation performance. Journal of Knowledge Man­agement, 27(11), 1-24. https://doi.org/10.1108/JKM-11-2021-0866 

Sardo, F., Serrasqueiro, Z., & Alves, H. (2018). On the relationship between intellectual capital and financial performance: A panel data analysis on SME hotels. International Journal of Hospitality Management, 75, 67-74. https://doi.org/10.1016/j.ijhm.2018.03.001 

Sharma, P. N., Liengaard, B. D., Hair, J. F., Sarstedt, M., & Ringle, C. M. (2023). Predictive model assessment and selection in composite-based modeling using PLS-SEM: exten­sions and guidelines for using CVPAT. European Journal of Marketing, 57(6), 1662-1677. https://doi.org/10.1108/ejm-08-2020-0636 

Shmueli, G., Ray, S., Velasquez Estrada, J. M., & Chatla, S. B. (2016). The elephant in the room: Predictive performance of PLS models. Journal of Business Research, 69(10), 4552-4564. https://doi.org/10.1016/j.jbusres.2016.03.049 

Stanko, M. A., Molina-Castillo, F.-J., & Harmancioglu, N. (2015). It Won’t Fit! For Innovative Products, Sometimes That’s for the Best. Journal of Product Innovation Management, 32(1), 122-137. https://doi.org/10.1111/jpim.12238 

Xu, Y., Ribeiro-Soriano, D. E., & Gonzalez-Garcia, J. (2015). Crowdsourcing, innovation and firm performance. Management Decision, 53(6), 1158-1169. https://doi.org/10.1108/MD-06-2014-0408