Enhancement of Intangible (Immaterial) Assets in Formal and Informal Institutions by Virtue Enrichment of Human Capital

Nowadays, human capital is considered as the most important asset for the development of institutions, organizations and firms. Researchers have found that the enhancement of individual authenticity is the base for socially improvement of spontaneous innovation, founding significant cultural progress and consequently influential industry, entrepreneurship and economy. Strengthening of human capital get obtained when individuals get enhanced spiritually. Indeed, virtue and moral ethics of the authentic individual is the most important factor for the emergence of idea novelty and pragmatic potentials of innovative forces. Applied approach to the authenticity of the creative individuals and ethics create competitive advantages in the institution, because it reduces moral vices and even before the law, eliminates corruption and ensures the health of the administrative apparatus. In this article it is descriptively and interpretively discussed how an authentic individual, in the bed of institutions and by playing a role in the implementation of top-down and bottom-up policies, can express his innovative talents in order to achieve major progress. Also, the role of formal institutions in serving, setting disciplines and providing a healthy supportive environment for the activities of the authentic individual and as well the role of informal institutions as facilitators of participation of lower level actors has been described. At the end, it has been concluded how innovation, meritocracy, livelihood prosperous and economic justice will be prevailed through enhancing virtue enrichment of individuals.