An introduction
Knowledge is information in action. It is a dynamic blend of experience, values, information and insights, against which new experiences and information can be evaluated and consolidated.
In the corporate environment, knowledge comprises information, forecasts and trends, analyses and research findings on products and processes, customers, suppliers and markets, experiences of failures and successes, among various other business details. Unlike material assets, which decrease with consumption, the value of knowledge as an asset increases in direct proportion to its application; shared knowledge remains intact with the giver even as it enriches the receiver. Ideas breed experiences.
Two types of knowledge
Explicit knowledge is recorded and available in various media like books, periodicals, letters, reports, memos, literature, etc; audio-visual material, CDs, films, videos, etc; or electronic formats like data, software, websites, etc.
Implicit knowledge is invisible and, often, confined to the mind of a person. It is hard to codify and, therefore, difficult to communicate to others. Transformation of knowledge from the implicit to the explicit increases its usability and visibility. But capturing the implicit (often intuitive) knowledge that resides within an expert in the form of know-how and insights is very difficult and challenging.
Implicit and explicit knowledge are not discrete or separate categories. They are so heavily linked as to be practically bipolar and nearly impossible to map. For example, to completely understand a written document (explicit knowledge) it requires a significant amount of insight and experience (implicit knowledge) — like a machine drawing which is indecipherable to a person without an engineering background.
What are the implications of this for industry and trade? The three traditional factors of production — land, labour and capital — are relatively easier to handle in the 21st century. The new fourth factor, knowledge, which is at the heart of much of today's global economy, is rapidly emerging a bottleneck to growth in new areas. Therefore, managing knowledge, the driver for the growth of economies, is vital for a company's success in today's knowledge economy.
Knowledge management
Knowledge management is deliberate and systematic building, renewal, and application of knowledge. It is a process, which continuously and systematically gathers information from individuals and teams that generate learning, and systemises it in the 'collective brain' of the organisation for the benefit of the entire structure. It involves leveraging and reusing knowledge resources that already exist within the organisation to maximise the returns from its knowledge assets.
Knowledge management also means gathering, organising and sharing intangible knowledge like professional know how and expertise, creative solutions, technology and even individual insights and experiences. It involves the systematic creation of an interactive, learning corporate environment, where people readily transfer and share what they know, internalise it and apply it to create new experiences through existing knowledge.
Knowledge Centre
The Knowledge Centre, through which TMTC already provides a vast database of explicit, cutting-edge knowledge from all over the world, plans to grow into an interactive knowledge incubator, organiser and producer over the years.
Users of the Knowledge Centre can access TMTC's vast library, Gyansarovar, as well as value added services through the online databases, digitised brochures, pre-programme and post-programme material, additional readings related to the training and development programmes conducted at TMTC.
Other resources offered include a vast array of articles from relevant journals, case studies and documentation on best practices.
