TABLE OF CONTENTS Commercializing knowledge is not new. There are many service industries where knowledge is a core element of the product and service they offer - health-care, consulting engineering services, pharmaceuticals, to mention a few. There are several industries where information and knowledge is their raison d' tre - education, training, scientific publishing, management consultancy etc. There is much that any organization can learn from the ways in which companies in these industries turn their basic material - knowledge - into commercially viable products and services.
In a study done for Wentworth Research, Tony Brewer identifies three main ways of commercializing knowledge: [23]
Knowledge enriched products and services. Knowledge is used to add value to the basic offering; for example, telecommunications companies advise their customers on how to configure and make best use of the equipment and services they offer.
Advisory services. The know-how of people is used to solve customers' problems; for example, consultancies customize their know-how and offer specific advice.
Publishing. Knowledge is converted into information packages and sold in various formats; for example, market research companies package their information and knowledge into online databases and reports tailored to accommodate the different needs of their clients.
As a major industrial insurer, Zurich has developed an extensive business intelligence system over many years. In order to save costs and enhance customer service, its US subsidiary launched Risklntelligence, an extranet service for its corporate clients to track and analyse their own...
