Knowledge Management blog-9

Knowledge Management

 

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Knowledge Management is now one of the major driving forces of organizational change and wealth creation. Business is all about convincing people for a deal, to convince you need information or knowledge about the product or service that  you are selling, organizations are more concern over on the information and knowledge which support to finalize a sale, leaning and development departments are empowered to provide such training to the staff.

Some companies define intellectual capital in termsof value creation, for others it is value extraction.It was defined by Tan (2000: 10) as:‘The process of systematically and actively managingand leveraging the stores of knowledge in anorganization.’ As Ulrich (1998: 126) remarked:

‘Knowledge has become a direct competitive advantagefor companies selling ideas and relationships.’Nonaka (1991) suggested that knowledge is heldeither by individuals or collectively. In Blackler’s(1995) terms, embodied or embraced knowledge isindividual and embedded, and cultural knowledgeis collective. It can be argued (Scarborough and Carter, 2000) that knowledge emerges from thecollective experience of work and is shared between staff of an organization.

Leaders of successful organizations are consistentlysearching for better ways to improve performance andresults. Frequent disappointments with pastmanagement initiatives have motivated managers to gain new understandings into the underlying, butcomplex mechanisms - such as knowledge –whichgovern an enterprise's effectiveness .To be competitive and successful,experience shows that enterprises must create andsustain a balanced intellectual capital portfolio.

Theyneed to set broad priorities and integrate the goals ofmanaging intellectual capital and the corresponding effective knowledge processes. This requires systematic approach and research.

Reference

Knowledge Management: An Introduction and Perspective

Article in Journal of Knowledge Management · March 1997

Tan, J (2000) Knowledge management – just more

buzzwords?, British Journal of Administrative

Management, March–April, pp 10–11

Ulrich, D (1998) A new mandate for human

resources, Harvard Business Review,

January–February, pp 124–34

Wenger, E and Snyder, W M (2000) Communities

of practice: the organizational frontier,

Harvard Business Review, January–February,pp 33–41