An essential ingredient of success Market pressures and the changing business environment mean that every organisation must exploit its knowledge assets to the full. Some 95 per cent of chief executives believe knowledge management is vital. But while the IT industry is certainly driving the campaign to highlight the benefits of knowledge management, technology is only one of several elements needed to make it work.
Technology is, of course, important.
Without it, knowledge management would be impossible. The emergence of the web browser and the internet communications infrastructure as standards makes it simple and inexpensive to access data. But while the technology infrastructure has evolved to make knowledge management possible, the real benefits can only come from applying knowledge. Undoubtedly, it is the potential benefit of applying knowledge management that has attracted the attention of senior executives. A recent survey by PricewaterhouseCoopers in conjunction with the World Economic Forum found that 95 per cent of chief executive officers saw knowledge management as an essential ingredient for the success of their company.