DETERMINATION OF COMPETITIVE ADVANTAGE FROM THE PERSPECTIVE OF INTANGIBLE RESOURCES OF COMPANIES

Non-material resources in the modern business world, hold a key position as "exceptional" and as the resources can bring competitive advantage to the companies. This makes managament of intangibile resources one of the basic challenges in modern managament that ensures optimal use of this valuable strategic resource as well as building success based on knowledge. After consideration and theoretical reflection of competitive advantage from the perspective of non-material resources, and highlighting the organizational knowledge as a fundamental intangible resource for the achievement of business success, its features and problems related to its management, the main purpose of this paper is primarily to present analysis of knowledge management practices in Serbian companies. Analysis of knowledge management practices in Serbian companies pointed out the weak development of knowledge management in the Serbian organizations. This work attemps to answer questions regarding very important issues of knowledge management, such what is the cause of poor development of knowledge management practices in Serbian companies and how to improve it.