Quality of Education and Intellectual Capital: Analysis of the Competitive Position of Universities (doi: 10.14706/icesos177)

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Quality of Education and Intellectual Capital: Analysis of the Competitive Position of Universities (doi: 10.14706/icesos177)


Arnaut, Dino


Abstract: Intellectual capital opened the way for research into this area, which forms the basis of the new knowledge economy. The development of intellectual capital has a growing impact on the economic and social processes. Intellectual capital is now even more important than tangible assets. If a country wants to develop and become economically strong and enlightened it needs to build a modern and flexible and well suited and efficient education system that is ready and able to responses to all the global technological and social changes, as well as the local current social needs. To achieve this there is a need to establish institutional cooperation between universities, governments, research institutions. Education has a double meaning that is economic and social. It represents a means to improve economic standards as well to spread spiritual perspective and improvement of own intellectual and emotional life. Sociologically it is established that education is beneficial both for the individual and for society. Therefore, it not only contributes to higher profits for the individual, but also its better social status and reputation of the company, financial and social security, development of identity and self-confidence, self-esteem development and personal satisfaction, better understanding of the political situation and greater social engagement and cohesion, respect for social norms, reducing stereotypes and prejudice, improving gender relations and better education of children, development of tolerance and ethical behaviour, aspirations towards healthy living, and better physical and mental health. Investments in education are an important factor for competitiveness, growth and development of a country. Education has a key role in improving the human capital and the development of a knowledge based society. It contributes to the unification of life chances, personality development in the spirit of liberty, intellectual development and spiritual and cultural richness. The aim of this paper is to investigate connection between service quality and competitive position of Universities in Bosnia and Herzegovina to help developing new and improved academic programs that will contribute development of future strategies based on intellectual capital. Keywords: Intellectual Capital, Quality of Education, Education System, Service Quality, Bosnia and Herzegovina


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