Leading the strategic development of intellectual capital

The Intellectual Capital Realization Process (ICRP), developed by the authors, permits the leaders of an organization to develop strategies to realize the potential of intellectual capital (IC). This process is consistent with the resource‐based view of the firm, which suggests looking inward to develop core competencies for building competitive advantages. By utilizing a public sector organization as an example, this paper seeks to inform the reader of the preliminary work and subsequent steps to follow when implementing the ICRP. The Canadian Sport Centre Calgary (CSCC) organization serves this purpose, although the ICRP has also proven equally successful when used in a private sector company. The ICRP helped the CSCC identify and plan the development of its unique capabilities, relationships, and processes that benefit the organization through the creation of leadership ability and the generation of wealth.