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Books > Business & Economics > Business & management > Business strategy
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The Professional Knowledge Economy - The Management and Integration of Professional Services in Business Organizations (Hardcover, 1995 ed.)
Loot Price: R3,000
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The Professional Knowledge Economy - The Management and Integration of Professional Services in Business Organizations (Hardcover, 1995 ed.)
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Knowledge is the great fifth production factor in our economy,
besides capital, labour, land, and entrepreneurship. Perhaps it is
the most precious of the five factors, because it takes so much
effort and money to keep it well-nourished. Perhaps it is the most
strategic of the five factors, because we depend on it to develop
business, the economy, and the world at large in a balanced and
sustainable direction. Knowledge is certainly one of the least
understood factors and one of the hardest to grasp. This book
concerns the largest pool of knowledge, which is professional
knowledge. This form of knowledge, albeit being very close to
business practice, is nonetheless least understood of all.
Economists have tried to grasp the knowledge factor, measuring and
assessing it in terms of the pools of R&D-expenditures,
patented innovations, licences, and other forms of knowledge that
can be documented. The pool of professional knowledge is not among
these, because it is tacit. It can only exist in our head; it is
intrinsically tied to people --the professionals. Professional
knowledge is the articulation of scientific and documented
knowledge, and the individual experience and dexterity of
individuals. It is for this reason that it is so hard to grasp;
while for this very same reason, it is so close to the life of
business, to the shopfloor of our advanced economies.
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