Knowledge Economy World

Studying knowledge and its value is one of those recurrent topics particularly in a knowledge economy world, where knowledge is considered among the most important assets. Given the value of this asset, it is essential that organizations manage their knowledge as a source of great economic value and has to be strategically aligned with their visions. 

With the recent advancements of technologies, it has been frequently observed that technology is dominating the discussions about knowledge management! 

Knowledge management comes in many different forms. One needs to understand that in any of these forms, technology does not manage knowledge but simply facilitates the interactions between people who possess or need knowledge. It is very acceptable to associate technologies with data and/or information management systems; but not with knowledge management. In my opinion, knowledge management is directly associated with people and this is not technology based or a software application.  Thus, most of the traditional knowledge management systems that are focused on the ability to capture knowledge in centralized systems have failed or have only little success. The most appropriate approach is to recognize the people who possess knowledge those who are willing to use it and share it with others through a means capable of connecting them with to others for only one purpose, a purpose to create bigger networks, stronger ties to make knowledge available, accessible and usable. 

When people leave organizations for a reason or another, they take with them what may amount to decades of company knowledge, a loss of very valuable asset and resources. No one doubts the value of this knowledge for any organization. This value can be in a form of reduction of operational costs and/or improvement in productivity through:

• Provide better service to employees and customers. 
• Speed up access to information and knowledge
• Promote innovation and cultural change
• Improve decision-making processes
• Standardize processes 
• Improve the efficiency
• Social networking venues

The realization of the benefits will highly rely on the management of an organization and their implementation which should consider the following imperatives: 

• A strategy that drives knowledge management endeavors to meet tactical and strategic requirements.
• Business models or framework for the appropriate implementation
• An organizational culture that drives people to care, share knowledge and interact.
• Competent leadership, management and champions at all roles and functions.
• Fit for purpose technologies that suite the organizations requirements and fits with their policies and internal politics.
• Knowledge mapping process that produces a matrix of SMEs versus their domains.
• Succession planning process knowledge management champions.

The knowledge One has is a form of ENERGY and it gives potential power and deep conviction capable of producing phenomenal results and creative work. Companies and societies need to understand what drives people possessing distinctive knowledge (power) to share their knowledge. This understanding will definitely lead them to have this knowledge become a source of innovation, growth, resilience and sustainability.

Among the main reasons, socialites such and technical communities continue, grow and flourish is the existence of distinguished members who generously share and exchange their valuable knowledge and inspiration. I am sure that those who earn the power of knowledge will be able to give it away and amazingly enough, become more powerful.