Managing knowledge capital in public libraries for a knowledge-driven socioeconomic environment

Abstract

Intellectual capital and public libraries are closely related in our experiences and in our minds. In this viewpoint, the libraries and the information professionals, consciously or unconsciously, have been deeply involved in the management of library’s knowledge capital resources. Understanding and managing the public libraries’ knowledge capital is essential since conventional capital alone is no longer a sufficient condition for success. This paper initially provides the fundamentals of intellectual capital and knowledge assets management for public libraries. Thereafter, a number of more intricate management issues are discussed including social value creation and intellectual capital, library goodwill, cooperation and competition (co-opetition) dynamics within library networks and the physical location effect on library knowledge capital.