Posted by Melville on January 22, 1998 at 17:26:12:

The ELMARK definition of knowledge management, is based on sound business practice in the Knowledge Industries of Professional Services , Pharmaceuticals and IT, and starts with the initial observation that organisations are run by making decisions, and that these decisions have two key components.

(1) Assets - the assets on which the decision will have a bearing, that is, will it have an overall positive impact on the organisations assets, or will it have an overall negative impact.

(2) Risks - the risks that have to be understood and minimised to ensure that the overall decision adds incremental value to the assets of the business, and that the organisation is not left exposed to extranious circumstance. These risks require to be managed, through formal or informal risk management techniques.

The ELMARK definition of Knowledge Management is:

The marriage of Asset Management with Risk Management to provide a new business environment that fuels corporate wealth and reduces business exposure.

See chart on www.elmark.co.uk/elmark/page10.html

Elmark also introduces two vitally important feeders to knowledge management- Information and Technology. They are cornerstone components of this practical business model of Knowledge Management that is now being applied by numerous organisations.

This definition of Knowledge Management integrates well with the true meaning of corporate performance and highlights the prime driving force behind any knowledge strategy. Corporate Wealth.

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Follow Ups:

• Re: Knowledge Management and Finance Mezei 10:51:39 1/23/98 (2)
  • Re: Knowledge Management and Finance Melville 15:53:23 1/28/98 (1)
    • Re: Knowledge Management and Finance Mezei 21:09:00 1/28/98 (0)

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