The fact of the matter is that IQ is not the definitive measure of a person's overall intelligence (and especially in regards to social and emotional abilities). There are several different standardized IQ tests, with most setting the average for a given population at a value between 95 and 105. If someone scores between those two values, that person is regarded as being "competent."
The term "IQ" was invented by psychologist William Stern, which he used in one of his writings in 1912. Historically speaking, the first IQ tests weren't meant to search for geniuses among us, instead, they were used for educational purposes, school testing, or assessing the degree of intellectual disability a person has. Only in recent years has the trend appeared of using IQ as a way to measure "smartness."