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Excerpt from Value Creation in the Knowledge Economy, Verna Allee's article published by HR Monthly (Australia), 1998. |
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| If Knowledge is the Answer, What is your Question? Any enterprise shapes itself uniquely according to its fundamental strategic drivers. Each of the following value drivers requires a somewhat different emphasis in the type of intellectual capital that is being created. Each also results in very different knowledge management practices and measures of progress. Before examining and adopting other companies' management practices, look for practices that support the same strategic initiatives that are important to your enterprise. | ||
| Knowledge Value Opportunity | Sample Measure | Top Companies |
Customer Intimacy Intimate knowledge of customers for the purpose of providing world class service, or to customize and target marketing of products and services | Breadth & depth of customer purchases | AMEX |
Intellectual Property Increasing and managing a portfolio of codified and/or patented knowledge that contributes to the financial value of the enterprise | Value of patents | Dow Chemical |
Process and Product Quality Experimenting with, researching and sharing best practices to increase quality of products, and serve and enhance performance | Spread of best practices | Chevron |
Innovation Expanding knowledge required to rapidly generate, produce and market new and innovative products and services | Time to market | Hewlett Packard |
Knowledge-Based Products Generating additional knowledge value in the value chain to deliver higher value, "intelligent" products, and establish uniqueness | Number of knowledge-based enhancements | Arthur Anderson |
Rapid Response Increasing adaptability, flexibility and responsiveness in a constantly changing environment | Change management speed & efficiency | Chaparrell Steel |
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