Topic: Knowledge Management and Intellectual capital
AUTHORS: D GUPTA
M KIRAN REDDY
Knowledge is something that comes from information processed by using data. It includes experience, values, insights, and contextual information and helps in evaluation and incorporation of new experiences and creation of new knowledge. People use their knowledge in making decisions as well as many other actions. In the last few years, many organizations realize they own a vast amount of knowledge and that this knowledge needs to be managed in order to be useful. “Knowledge management (KM) system” is a phrase that is used to describe the creation of knowledge repositories, improvement of knowledge access and sharing as well as communication through collaboration, enhancing the knowledge environment and managing knowledge as an asset for an organization. Intellectual capital is considered as a key influencer of innovation and competitive advantage in today’s knowledge based economy. Knowledge management helps in obtaining, growing and sustaining intellectual capital in organisations. This paper focuses on how knowledge management and intellectual capital helps the organization to achieve their goals and as well as the relation between these two concepts. Key words: knowledge management, intellectual capital, organizational goals, benefits Introduction:
Knowledge is something that comes from information processed by using data. It includes experience, values, insights, and contextual information and helps in evaluation and incorporation of new experiences and creation of new knowledge. Knowledge originates from, and is applied by knowledge workers who are involved in a particular job or task. People use their knowledge in making decisions as well as many other actions. In the last few years, many organizations realize they own a vast amount of knowledge and that this knowledge needs to be managed in order to be useful. Knowledge management is not one single discipline. Rather, it an integration of numerous endeavours and fields of study. Knowledge management is a discipline that seeks to improve the performance of individuals and organizations by maintaining and leveraging the present and future value of knowledge assets. Knowledge management systems encompass both human and automated activities and their associated artifacts. So, what is Knowledge?
Knowledge is a fluid mix of framed experience, values, contextual information, expert insight and institution that provides an environment and framework for evaluating and incorporating new experiences and information. From this perspective, knowledge management is not so much a new practice as it is an integrating practice. It offers a framework for balancing the numerous of technologies and approaches that provide value, tying them together into a seamless whole. It helps analysts and designers better address the interests of stakeholders across interrelated knowledge flows and, by doing so, better enables individuals, systems and organizations to exhibit truly intelligent behaviour in multiple contexts. The reasons why companies invest in KM are that it either gives them a temporal effectiveness or efficiency advantage over their competitors, or they do it to try to negate the competitive advantage of others. For the purpose of this research, KM is defined to include the five fundamental processes of: (1) Knowledge acquisition (KA)
(2) Knowledge creation (KC)
(3) Knowledge documentation (KD)
(4) Knowledge transfer (KT) and
(5) Knowledge application (KAP)
These five KM processes are not necessarily sequential but rather iterative and overlap. The effective management of knowledge necessitates a thorough understanding of the relationships not only among the KM processes themselves but also between the KM processes and the intellectual assets of an organization....
References: Intellectual capital and knowledge management: A new era of management thinking?- Jodee Allanson
Reconfiguring knowledge management – combining intellectual capital, intangible assets and knowledge creation – Tomi Hussi
Intellectual capital and Knowledge management effectiveness
Bernard Marr, Oliver Gupta, Stephen Pike, Goran Roos.
Developing knowledge management metrics for measuring intellectual capital – Jay Liebowitz
Influence of KM and Intellectual capital on organisational innovations – Charles Egbu, Katherine Botte rill and Mike Bates
Please join StudyMode to read the full document