The Wealth of Knowledge: Intellectual Capital and the Twenty-first Century Organization by Thomas A. Stewart   In his new book, The Wealth of Knowledge, Stewart--widely acknowledged as the world’s leading expert on working with intellectual capital in today’s knowledge economy--reveals how today’s companies are applying the concept of intellectual capital into day-to-day operations to dramatically increase their success in the marketplace.   More information and prices from: Amazon.com - US dollars Amazon.ca - Canadian dollars Amazon.co.uk - British pounds (different cover) SeekBooks.com.au - Australian Dollars Amazon.de - Euros Amazon.fr - Euros

Todd R. Groff (2003) defines knowledge management as 'the tools, techniques, and strategies to retain, analyse, organize, improve, and share business expertise.' Groff points out that businesses have traditionally aimed to be successful through the management of finite resources. Now they can use their infinite resources - the knowledge their people possess. Moreover, he considers, 'Unlike most assets, knowledge is not depleted when it is shared. In fact,sharing knowledge almost invariably results in increased knowledge for both parties.'

Storey and Quintas(2001) state that knowledge management has become one of the most significant developments in management and organization theory in recent years. It seems to give fresh insights into the theory of the firm and it is also the subject of claims about a completely new kind of economy - the 'knowledge economy.' Knowledge is scarcely as novel a concept as many protagonists of knowledge management claim, but it has only become a management topic relatively recently. Moreover, a large number of organizations are attempting knowledge management projects - not always successfully.

What Knowledge Management is not (If Only We Knew What We Know : The Transfer of Internal Knowledge and Best Practice by Carla S. O'Dell, Nilly Essaides, 1998):

* 'Knowledge Management (KM) is not a new religion or spiritual calling.

* 'It is not an attempt to rally disgruntled employees around an appealing physical concept.

* 'It is not an existential search for the truth. (Actually, it's about the entirely worldly task of making money.)

* 'It is not a science or a discipline - yet.

* 'It is not the latest management fad.'

O'Dell and Essaides (1998) argue that knowledge management is not a fad because:

- The power of learning will never be obsolete.

- Some people may treat knowledge management as a religion but real knowledge management is practical rather than theoretical and should have bottom-line results.

- Technology is not relied upon to make processes efficient, instead, technology is used to facilitate the sharing of knowledge in people's heads.

- It is consistent with modern team-and process-based approaches to management.

We will see later that there are criticisms of the way that information technology has come to dominate conferences and publications on knowledge management and, in doing so, often lost the point. In fact, if you think that buying (or rather, being sold) a software package to collect information is 'knowledge management' you are probably wasting your money. Knowledge is more than technology.

Knowledge Management: a Big Idea

Tacit and Explicit Knowledge

Data, Information and Knowledge

Knowledge Management Practice

The Psychology of Expertise

If Only We Knew What We Know : The Transfer of Internal Knowledge and Best Practice