Systematic Knowledge Management Approach: A Requisite for Growth and Competitive Advantage

Organizations face a number of complex challenges. Growth and competitive advantage has become strategic perquisites for any organization. Need for developing information and knowledge structures is becoming increasingly important in order to achieve a sustained growth in today's competitive environment. We, in this paper, have briefly reviewed the increased interest in more explicitly valuing intangible assets and have explored the strengths and weakness of the current approaches of Intellectual Capital (IC) and Balanced Score Card (BSC). The paper contends that overemphasis on developing and leveraging intangible assets, is nonproductive and incorrect. All organizational assets financial, tangible and intangible must be managed as an integrated system if the value of intangible assets is to be fully ascertained. A new approach, Systematic Knowledge Management (SKM) that visualizes and harmonizes the organizational factors and dynamic interactions involved in effectively and efficiently managing all assets, has been proposed.