Corporate initiatives in knowledge management

Abstract

Knowledge is a social construct and cannot be managed as physical assets. The distinction between data, information and knowledge is made. The transformation of raw data and information into useful knowledge requires a sense of trust and reciprocity on the part of people. Knowledge flows involve the translation of tacit knowledge into explicit knowledge in a process of codification. Knowledge produced by individuals reaches its full potential to create economic value when it becomes embedded in organisational routines. It is important to focus upon flows of knowledge, and not simply measure stocks of knowledge. Examples are given of successful corporate initiatives in knowledge management.