Knowledge worker

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If you ask the average management pundit what are today's biggest corporate hot buttons, the chances are they'll say Knowledge Management and intellectual capital. Some will no doubt dismiss Knowledge Management as this year's fad, the logical antidote to the Business Process Re-engineering craze which resulted in so many corporate donkeys being turned into pantomime horses.

We at Kudos happen to think that Knowledge Management is more than a passing fad, for the simple reason that, like all the best ideas, it's based on common sense. So what is it? And how will it affect who will be expected to manage the knowledge?
Knowledge Management is all about organisations realising that they have assets that have never before appeared in their balance sheets and yet are a vital indicator of their future prospects. Those hidden assets are people, and what people know.

Accountants can tell us the current state of health of a company: whether it's making a profit, whether profit is increasing or declining, what its turnover is, what its cash flow is. They can also tell us the value of its tangible assets: what its buildings, equipment and toilet rolls are worth. What they are not so good at is telling us what the business will earn in the future. If a company is being run down or asset stripped it may make outstanding profits. But there's a real possibility that it may not be around in a few years.

How a company performs in the future depends not only on how it invests its financial capital but also how it invests its intellectual capital. Intellectual capital is defined, at its simplest, as the return that the company makes over and above what it could earn from simply investing its book value. The reason that companies are acquired at valuations 10 or more times over the straight valuation of their tangible assets is that the purchasers believe that the sum of the talent, knowledge, trademarks, patents, company image, brands and so forth far outweigh mere money or bricks and mortar. « mai multe referate din Management