CHALLENGES OF TRANSFORMING INTELLECTUAL CAPITAL INTO GLOBAL COMPETITIVE ADVANTAGES IN SUSTAINABLE DEVELOPMENT

Abstract

This article examines intellectual capital as a key driver of sustainable development and global competitive advantages. It identifies the role of human, structural, and relational capital in enhancing economic systems' wealth and competitiveness. Intellectual capital is essential for long-term competitiveness, enabling innovation, technological progress, and knowledge creation. The study aims to analyze how the development and management of intellectual capital can support the transition to a post-industrial society and help achieve sustainable development goals. It emphasizes the integration of intellectual capital components to improve economic resilience and competitiveness in a globalized economy. The paper also addresses challenges in utilizing intellectual capital and proposes strategies for enhancing innovation, education, and research. Through an analysis of intellectual capital’s formation and application, the study offers insights into how emerging economies, like Azerbaijan, can strengthen their global competitive position. Recommendations are provided for policymakers and organizations seeking to leverage intellectual capital for sustainable growth.