In the present economy a growing number of businesses, and in particular those operating in the service industry, are often able to be successful in the market arena on the basis of continuous investments in intangibles assets, rather than only in tangible resources. Although intangibles assets may constitute the source of competitive advantage, businesses do not often understand their nature (Collins, 1996). In fact, it has been remarked in literature (Bontis, 2002) that managers do not know how organisation key-resources and related acquisition and depletion processes over time are likely to affect a success of a business strategy. This phenomenon may be due to a lack of methods and tools to use which would enable managers to analyse organisation intellectual capital stocks and organisational learning flows (Bontis, 2002).  In order to overcome such difficulties, a conceptual framework has been developed and proposed to a Telecom company to investigate – through the lens of the System Dynamics methodology – how Intellectual Capital policies in a Call-Center are likely to affect the overall company performance. Main key-issues underlying the feedback structure and the System Dynamics model are discussed in the paper, and most significant outcomes from simulations are commented.