KNOWLEDGE MANAGEMENT (KM) Session # 7

Strategic Corporate Assets Pre-Industrial Land Minerals Water Industrial Large Pools of Capital Expanding Marketing, Markets Management Knowledge Human Capital, Economy Knowledge

Money Talks BUT it does not Think Money Talks BUT it does not Think! Machines Perform, often Better than Human Beings BUT do not Innovate/Invent!

To make knowledge work productive will be the great management task of 21st Century, just as to make manual work productive was the great management task of this century. Peter Drucker (1960)

KNOWLEDGE CHARATERISTICS Expandable – Unlike other resources, more is used, more is generated. Compressible – Can be packaged into small physical formats. Diffusible – It can leak . Better tech, difficult to stop reproduction/transmission. Shareable – If given to others, the first person does not loose it. Transportable – Can move from place to place, quickly, easily and ready for collecting on receipt. More to come ……

3rd Millennium Institution ! Preserve Natural Capital Attract Financial Capital Build Social Capital Train Human Capital Generate Knowledge Capital Cultivate Creative Capital

OPEN QUESTION? Will Human Capital challenge the Power of Financial Capital in Knowledge Based Institutions?

Driving the Business Making Sense of the Business Insight into the Business Change the Business New Revenue Sources and Opportunities Optimizing Stakeholder Relationships Enhance the Business Retention and Leverage Align the Business Driving the Business Efficiency, Sustainability, Profitability Grasp the Business Making Sense of the Business Understanding Goals Objectives

What is Knowledge Management? Knowledge Management (KM) is the effective application of management’s “Good Practices” and Info-Com Technologies that benefit an enterprise in attaining their objectives efficiently and effectively.