Intangibles: More Essential for Value Creation
Reproduction of blog post dated October 4, 2008
Let us “connect the dots”:
What do we see here?
It seems to be happening across many sectors: intangibles have become more essential in creating value!
Do you agree? Is the inference correct? Or is it correctly worded?
We saw from my previous post (“KM is Not Enough!”) that intangibles largely overlap with knowledge assets. Managing intangibles has become the “the name of the game”. In fact, knowledge has become the prime creator and repository of wealth (see first six bullet points above).
We can now assert that the proper goal of KM should be to create value. The causal model or KM framework is:
From the previous post, we saw that “knowledge” is capacity for effective action, which includes information for effective action. The model defines what is “effective”: a decision or action is effective if it produces the result desired or valued by the actor. Knowledge is “what works” for a user.
The next issue is more knotty: what precisely is “creating value”? See you in my next blog post (“F3- KM is for Value Creation”)
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