This study sought to: (1) analyse the effect of intellectual capital on innovation drivers, (2) explore the indirect influence of intellectual capital on competitiveness via innovation drivers, (3) evaluate the impact of innovation drivers on competitiveness, and (4) examine the causal relationships among intellectual capital, innovation drivers, and competitiveness within the Thai manufacturing sector. Intellectual capital includes knowledge that may be transformed into value or employed as a resource for intellectual endeavours, comprising information, expertise, intellectual property, and experience, all of which facilitate wealth creation. Innovation drivers encompass the creation of novel products and strategies, improvements to existing offerings, progress in management and digital marketing, and the incorporation of comprehensive and constructive work processes. Intellectual capital is considered a vital strategic asset, whereas innovation drivers are essential for improving competitiveness. The research sample consisted of 236 enterprises in the Thai manufacturing sector, with executives and accounting managers acting as primary informants. Data were gathered by a survey questionnaire, and the study utilised Descriptive Statistics, Correlation study, and Structural Equation Modelling. The study’s results indicated that: (1) intellectual capital positively influenced innovation drivers; (2) intellectual capital positively impacted competitiveness via innovation drivers; (3) innovation drivers were positively correlated with competitiveness; and (4) the causal model elucidating the effects of intellectual capital and innovation drivers on competitiveness in the Thai manufacturing sector exhibited a strong alignment with the empirical data (χ² = 29.424, p = 0.060, df = 19, χ²/df = 1.549, GFI = 0.977, RMSEA = 0.048). The model explained 87.60% of the variance in innovation drivers and 56.50% in competitiveness. This study and its proposed model offer a theoretical framework for examining the causal links between intellectual capital, innovation drivers, and business competitiveness from a resource- based viewpoint.