Chapter List

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?

Changes In The Global Business Economy

A number of significant changes have occurred in the global business economy, and in society more generally over the past couple of decades (Castells, 1989; Allen, 1992). Allen (1992) points out how a . . . sense of economic transformation within the western industrial economies has been present for some time, at least since the 1970s. While there are differing views as to what type of economy we are moving from there seems to be some converging views that information and knowledge are becoming...