KNOWLEDGE - What the Firm Knows to Create Value

Knowledge

	The major key to achievements in today's knowledge-driven economy
	The broader your net is, the more fish you catch.

Knowledge is meaningfully structured accumulation of information; information that is relevant, actionable, and based at least partially on experience.

Education brings knowledge.
Applying knowledge brings wisdom.
Silencing knowledge brings enlightenment.

Better indeed is knowledge than mechanical practice. Better than knowledge is meditation.

Bhagavad

Gitta

Explicit Knowledge	Tacit Knowledge
Can be formally articulated or encoded	Difficult to articulate; subconsciously understood and applied
Can be more easily transferred or shared	Usually shared through highly interactive conversation and shared experience
Is abstract and removed from direct experience	Knowledge-in-practice; developed from direct experience and action; highly pragmatic and situation specific

Knowledge as a Source of Business Value

In the new economy, the knowledge component of products and services has increased dramatically in importance and has become the dominant component of customer value. The shift to knowledge as the primary source of value, makes the new economy led by the companies who manage knowledge effectively – who create find, and combine knowledge into new products and services faster than their competitors.

Tacit knowledge is far less tangible and is deeply embedded into an organization's operating practices and culture. As it is much harder to copy, tacit knowledge is a source of competitive advantage.

The Role of Knowledge in Business

Value of Knowledge for Business

Thought Leader

Ask Learning SWOT Questions

Content Marketing

An Easy Way to turn Business Rules into an Interesting Story

Be a value creator – your breakthrough ideas make you a thought leader only if they create value for others.

Genius

Learning

Intuition

Knowledge Workers

Organizational IQ

Avoid the Knowledge Trap

'I-already-know-it' attitude is a most destructive one. It closes off your mind, even to the things you don't know, and makes you overlook simple, yet great solutions that are often just nearby.

Know Your Enemies

Personal Internal Enemies

Enemies of Business

Reward people for contributing to a full flow of knowledge.

Bill Gates

Reward and celebrate new ideas to encourage others to want contribute as well.

Jack Welch

Inspire advocates. Mental diversity is very important – you need individuals who celebrate different viewpoints.

Tom Kelley

IDEO

If a person knows what he wants,
he either knows too much or wants too little.

Mikhail Zhvanetsky

The less you know, the better you sleep.

Russian proverb

If you are truly → passionate about your work,
everything around you becomes
your inspiring coach and a source of discoveries.

KoRe 10 Tips for Serendipity

Have your mind prepared for new insights. Expect to make an accidental discovery any moment.
Be observant. Keep your eyes and mind open at all times. Look at everything around you as doors to inspiration and new discoveries... More

→ 80/20 Principle

10 Golden Rules for Successful Carriers

Realize that knowledge is power.

Specialize in a very small niche; develop a → core skill.

Humorous Quotes

"I am not young enough to know everything." ~ Oscar Wilde

"If you think education is expensive, try ignorance." ~ Derek Bok

"Never let formal education get in the way of your learning." ~ Mark Twain

The Power of Your Cross-Functional Excellence

"The mind sharp, but not broad, sticks at every point but does not move."
~ Rabindranath Tagore

The broader your net is, the more fish you catch.

If you build broad cross-functional expertise, no idea will be wasted! Your mind can accept only those ideas that have a frame of reference with your existing knowledge and comprehension. It rejects everything else. If your knowledge is functionally focused, you'll be open to new ideas related to your functional expertise only and will miss all other → learning and → innovation opportunities.

→ Smart Business Architect

If you develop a broad cross-functional expertise, no new idea will be wasted. It will immediately connect with the existing knowledge and will → inspire you, → energize you, and encourage your → creativity and serendipity... More