Methodology for Assessing Intellectual Capital of a Business

The formation of modern digital and innovative technologies, the increased importance of knowledge, and modernization of the management of the business process are mandatory components for obtaining competitive advantages in international and national markets. Therefore, these new components pose new challenges to modern organizations in many aspects of their activities. Business, organization, and management are closely coupled since the operation of the organization is impossible without some proper administration and planning of a precise structure. The authors do not separate these concepts but rather combine them into a concept of business organization with the managerial elements necessary to maximize its effectiveness, provide innovative modern development, and control the entire system of the organization. This paper focuses on the concept of "intellectual capital" (IC), its structure, and its impact on the world market for adequate reporting to interested parties, using the example of the Russian agro-industrial organizations. The research subject is the assessment of the quality of (1) using IC in business organizations, (2) improvement of financial performance, (3) increasing business productivity, and (3) optimal management of resources and growth of organizational value through the key components of IC. The paper includes a brief overview of the works studying the position and role of IC (definitions and classification) and its impact on the international stock market and the value of the business organizations themselves. The authors provide a modern definition for the concept of "intellectual capital." Additionally, the authors show the mechanism for the operation of a business organization with the development of IC and distinct, interrelated concepts. The authors proposed considering the VAIC (Value Added Intellectual Coefficient) method for assessing IC in business organizations involved in the production of raw milk. The authors summarize the obtained indicators, come to several conclusions, and provide recommendations for working with IC, which will help external stakeholders to evaluate it in selecting the organizations with a high performance of IC.