Skyrme - a K-Guide giving a step-by-step guide to making the business case for investing in knowledge management. Just take a look at those organizations that seem to create value against the competition.
All three of these have obvious benefits linked to business processes. It is, therefore, important to ask yourself these few questions: Every business is unique and therefore, the KM initiatives that each undertakes are also unique to it.
Using the Technical Factor method of Arthur D. Unfortunately, in most situations, they have no means, or incentive, to share their knowledge i. At some point, metrics would also be useful to indicate usage, to indicate what is and what is not being accessed, and also to give management a sense of the value of the knowledge repository.
The following books give their own perspectives on measuring intellectual capital: We would like to ask employers the following question… Are you sure that when the economy sufficiently turns around, you are able to predict if your most valuable employees are about to walk out the door?
Knowledge for Development Program The Knowledge for Development K4D Program helps build the capacity of client countries to access and use knowledge to strengthen their Knowledge management and intellectual capital in the global economy and increase their social well-being.
The corporate knowledge base is fluid and must respond to the ebb and flow of required knowledge throughout the organization. Become pro-active by anticipating events and issues based on this new decentralized knowledge based system. Also, it needs to be remembered that the greater the potential payoff, the greater the likely risk involved in the undertaking.
Some companies have developed knowledge maps, identifying what must be shared, where can we find it, what information is needed to support an activity, etc. This is because people view these two categories in different lights and some executives may put more emphasis on one type over the other.
Knowledge is usually difficult to access — it leaves when the knowledge professional resigns. Is the information easily accessible to everyone who needs to see it?
It also considers KM assessment methods, measures of RoI return on investment of KM programmes and new holistic sustainability measures.
At some point, metrics would also be useful to indicate usage, to indicate what is and what is not being accessed, and also to give management a sense of the value of the knowledge repository.
Socialization of Knowledge Knowledge builds off other knowledge; it is cumulative.
Having now established a methodology to help identify the knowledge opportunities, their values and benefits, the last step in establishing a business case is to perform risk reduction techniques as discussed in the next section. Developing a greater awareness and understanding of the role of knowledge and the nature of intellectual capital.
The audit identifies the expertise in the organization, where it can be found, and how this expertise is accessed.
A term " Workforce -in-place" can be used as a category when companies with their staff are purchased. Unfortunately, in most situations, they have no means, or incentive, to share their knowledge i. It is decidedly more fruitful to concentrate on capturing forward-looking, demand-side KM due to knowledge half-life and the overwhelming tendency for knowledge efforts to just try to codify tacit knowledge.
Therefore, human capital can leave an organization when people leave, and if the management has failed to provide a setting where others can pick up their know-how. Once this has been clarified, it then needs to be determined how knowledge fits into this overall business strategy, objectives, and value proposition of the company.
As simple as ABC? Structural capitalthe supportive non-physical infrastructure, processes and databases of the organisation that enable human capital to function. Whichever approach is adopted, a starting point it to divides intellectual capital into several categories.
While playing an important part, critics of such measures argue that they are static measures and do not help managers identify the underlying cause and effect.
In order to turn the tacit knowledge of your team into explicit knowledge, it is essential that you have a framework in place so that people are encouraged to share what they have learnt on each project.
Knowledge Audit A knowledge audit identifies what knowledge exists in the organization and what knowledge is needed to move the organization in a strategic direction.
This combines financial and non-financial hierarchies of value. One is to separate out those assets protected by law - intellectual property.
But this knowledge can only create value if it's placed in the hands of those who must execute on it.Overview. Fortress Investment Group LLC is a leading, highly diversified global investment manager with approximately $ billion (1,2) of assets under management as June 30, Founded inFortress manages assets on behalf of over 1, institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital.
The Strategic Management of Intellectual Capital and Organizational Knowledge [Chun Wei Choo, Nick Bontis] on agronumericus.com *FREE* shipping on qualifying offers.
Increasingly, the challenge of management is to create and supply knowledge in order to sustain organizational performance. However. Intellectual capital is the intangible value of a business, covering its people (human capital), the value relating to its relationships (relational capital), and everything that is left when the employees go home (structural capital), of which intellectual property (IP) is but one component.
It is the sum of everything everybody in a company knows that gives it a competitive edge. Intellectual Capital and Knowledge Management: Strategic Management of Knowledge Resources (Routledge Advances in Management and Business Studies) [Federica Ricceri] on agronumericus.com *FREE* shipping on qualifying offers.
It is widely held that the successful management of knowledge resources within industry creates. The Importance of Knowledge Management. Most companies are focused on producing a product or service for customers.
However, one of the most significant keys to value-creation comes from placing emphasis on producing knowledge. Definition of Knowledge Management. Do you have any Knowledge Management Definitions to share with us?
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