By Thomas H. Davenport, Laurence Prusak
The definitive primer on wisdom administration, this publication will determine the iconic vocabulary and ideas and function the hands-on source of selection for quick businesses that realize wisdom because the merely sustainable resource of aggressive virtue. Drawing on their paintings with greater than 30 knowledge-rich organizations, the authors - skilled specialists with a tune checklist of success-examine how every kind of businesses can successfully comprehend, learn, degree, and deal with their highbrow resources, turning company wisdom into industry worth. they think about such questions as: What key cultural and behavioral concerns needs to managers tackle to exploit wisdom successfully? What are the easiest how one can contain know-how into wisdom paintings? What does a profitable wisdom undertaking seem like - and the way have you learnt while it has succeeded? in spite of everything, say the authors, the human traits of information - adventure, instinct, and ideology - are the main worthwhile and the main tough to regulate. making use of the insights of "Working wisdom" is each manager's first step on that profitable highway to long term good fortune.
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Extra info for Working Knowledge: How Organizations Manage What They Know
In addition, it was clear that much of the knowledge they needed already existed within their organizations but was not accessible or available when required. Hewlett-Packard CEO Lew Platt once said (echoing a former head of HP Labs), "If HP knew what HP knows, we would be three times as profitable," expressing a belief in the potential value of knowledge shared by many other corporate executives. Of course, knowledge was being used and exchanged in these companies, as it is in all firms. What we eventually came to think of as "knowledge markets," with knowledge buyers, sellers, and brokers, operate in every organization.
Knowledge derives from minds at work. Since epistemologists spend their lives trying to understand what it means to know something, we will not pretend to provide a definitive account ourselves. What we offer is a working definition of knowledge, a pragmatic description that helps us communicate what we mean when we talk about knowledge in organizations. Our definition expresses the characteristics that make knowledge valuable and the characteristicsoften the same onesthat make it difficult to manage well: Knowledge is a fluid mix of framed experience, values, contextual information, and expert insight that provides a framework for evaluating and incorporating new experiences and information.
Banks, insurance companies, utilities, and government agencies Page 3 such as the IRS and the Social Security Administration are obvious examples. Record keeping is at the heart of these ''data cultures" and effective data management is essential to their success. Efficiently keeping track of millions of transactions is their business. But for many companieseven some data culturesmore data is not always better than less. Firms sometimes pile up data because it is factual and therefore creates an illusion of scientific accuracy.
Working Knowledge: How Organizations Manage What They Know by Thomas H. Davenport, Laurence Prusak