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Knowledge Capital

Knowledge Management Overview

"Knowledge exists to be imparted."

Ralph Waldo Emerson


Knowledge management is a misnomer. A working definition of “knowledge”
is: understanding gained from experience. Most knowledge is tacit, in
people’s heads. Consequently, most knowledge cannot be managed.



What can be managed are an organization’s knowledge processes. Knowledge
processes are embedded throughout the enterprise (e.g., strategic
planning, decision making, marketing, hiring personnel). Every person in
an enterprise participates in knowledge processes. Knowledge managers help
the organization improve the effectiveness of its knowledge processes.
Understanding and optimizing Knowledge Management processes gives an organization
competitive advantage regardless of its market segment.

From:


Using Connect and Collect to Achieve the KM Endgame


 

Knowledge Management Components

Knowledge


Knowledge




Collaboration




Knowledge Base


Innovation = Creating New Knowledge


"The
business environment continues to change
at a
dramatically
increasing pace.
To thrive in this turbulent environment,
we must confront the business need for
relentless
innovation
and forge the future workforce culture."




Computer
Magazine

September 2001 Issue


Personal ROK (Return on Knowledge)


There was an engineer who had an exceptional gift for
fixing all things mechanical. After serving his company loyally for over 30
years, he happily retired.

Several years later his company contacted him
regarding a seemingly impossible problem they were having with one of their
multi-million dollar machines. They had tried everything and everyone else to
get the machine fixed, but to no avail. In desperation, they called on the
retired engineer who had solved so many of their problems in the past. The
engineer reluctantly took the challenge. He spent a day studying the huge
machine. At the end of the day he marked a small x in chalk on a particular
component of the machine and proudly stated, "This is where your problem
is". The part was replaced and the machine worked perfectly again.

The
company received a bill for $50,000 from the engineer for his service. They
demanded an itemized accounting of his charges. The engineer responded briefly:
 

One chalk mark .. ….. ….. $1

Knowing where to put it ….. $49,999

It was paid in full and the engineer retired in peace.

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