Until a few years ago, efforts to achieve business success had focused on improving the performance of physical assets and increasing capital to increase, in many cases, this always tangible asset base. However, it is evident that sustainable growth is incompatible with this policy over time since it does not represent a competitive advantage that can be capitalized on in the challenges that today's organizations pose with a globalized world. It is a challenge to face the valuation of intangibles when there has been a sustained growth in tangible assets for a long time.
Definitions
Knowledge management: It is the whole set of activities carried out in order to administer, share and develop the knowledge of an organization and the individuals who work in it, leading them to the best achievement of their objectives
Capitalization of knowledge: It is the use of knowledge as a tool to improve processes, adding value in all areas of the organization for the production of the good or service.
Background
- Sociologist Peter F. Drucker predicted the emergence of a new social layer of knowledge workers (PF Drucker 1959) and the trend toward a knowledge society (Drucker 1969). The importance of intangible assets reaches such a point that it meets the requirements (Dierickx and Cool, 1993) to be considered strategic.This type of society is characterized by an economic and social structure, in which knowledge has replaced work, raw materials and capital as the most important source of productivity, growth and social inequalities (see Drucker 1994). The expansion of state and private research activities was the main basis for the quantification of a number of industrial sectors (see Lane 1996)
Scope: Knowledge management as a tool for the sustained growth of organizations.
Knowledge management generating tools for growth
"What makes this society different is not that knowledge is a resource, but that it is the resource" Peter Drucker.
Starting from the previous sentence, the most important resource that organizations have is knowledge. The data will always be present in any process, with a little preparation and experience it can be transformed into information, but it is only knowledge that can ensure effective decision-making, generating value for the internal and external processes and services generated.
Knowledge management presents the administration of talents as the way to sustainable development, since it is the only thing that guarantees the evolution of organizations beyond traditional investment and growth policies related to tangible assets.
The possibilities for innovation and flexibility when generating organizational awareness of talent management are innumerable, since it is the people with their basic knowledge, previous experiences, innate talent, and the learning that is accumulating within the organization, becomes a set of knowledge that is increasingly full of value to add to processes.
Adequate, sufficient and manageable policies must be generated to allow the capitalization of knowledge within organizations, making everyone who lives in it aware of the internal and external competitive advantages to generate fast, prepared, and flexible teams, being able to innovate before the reality that appears and even better generate it.
Conclusions
«Knowledge is the most important raw material. Knowledge is the most important source of added value.
Knowledge is the most valuable performance.
If knowledge is not managed, the organization is not being paid attention ». Thomas A. Stewart (The Wealth of Knowledge).
Bibliography
- microfinanzas.org.minetur.gob.es.uoc.edu.Knowledge management “business approach with a view to the future” By Hernán López.
