Developing a knowledge strategy

Article Abstract:

Today, knowledge is considered the most strategically important resource and learning the most strategically important capability for business organizations. However, many initiatives being undertaken to develop and exploit organizational knowledge are not explicitly linked to or framed by the organization's business strategy. In fact, most knowledge management initiatives are viewed primarily as information systems projects. While many managers intuitively believe that strategic advantage can come from knowing more than competitors, they are unable to explicitly articulate the link between knowledge and strategy. This article provides a framework for making that link and for assessing an organization's competitive position regarding its intellectual resources and capabilities. It recommends that organizations perform a knowledge-based SWOT (strengths, weaknesses, opportunities, and threats) analysis, comparing their knowledge to that of their competitors and to the knowledge required to execute their own strategy. (Reprinted by permission of the publisher.)

Planning, Information Systems, Business planning, Strategic planning (Business), Knowledge, Sociology of, Sociology of knowledge

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Financial risk and the need for superior knowledge management

Article Abstract:

Three recent failures of risk management - at Barings Bank, Kidder Peabody, and Metallgesellschaft - appear to be due to three underlying causes: dysfunctional culture, unmanaged organizational knowledge, and ineffective controls. The first and the last of these have been extensively discussed in the media. This article explores the importance of the second: knowledge management. It demonstrates the need for a more structured approach to transferring knowledge to decision makers before it is needed, enabling the access of information as it is needed, and finally generating and testing new knowledge about the firm's changing risk management requirements. (Reprinted by permission of the publisher.)

Risk management, Securities industry, Kidder, Peabody and Company Inc., Baring Securities Inc., Metallgesellschaft Refining and Marketing

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The eleven deadliest sins of knowledge management

Article Abstract:

This article draws attention to a number of errors that could potentially cripple the efforts of any organization attempting to generate and leverage knowledge. Many of these errors are associated with the concept of knowledge itself - how knowledge is understood in organizational settings. The article notes the sources of each error as well as some key implications for managing knowledge. It concludes with some brief suggestions on how to avoid, or at least ameliorate these errors. (Reprinted by permission of the publisher.)

Intellectual property, Knowledge, Theory of, Epistemology

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