Chapter 1: The Changing World Of Business And The Imperative For Managing Knowledge

Knowledge As A Key Business Asset

We are living in the information age where knowledge is now considered the key strategic business asset. ‘ How do we leverage the knowledge in our business?’ is a fundamental question being raised by senior business leaders, in all business sectors. The Chief Executive of Hewlett-Packard has been quoted as saying ‘ If HP knew what HP knows, it would be three times as profitable.’

What knowledge assets are we talking about?

• Structural assets

• Brands

• Customer relationships

• Patents

• Products

• Operational processes

Human assets

• Employee experience

• Employee ‘know how’

• Personal relationships

So why has knowledge become such a key business asset? What are the broader economic and technological changes that have contributed to this shift?