Knowledge Risk Management in Companies Offering Knowledge-Intensive Business Services

TheKnowledge risk aimRisk management of this chapter is to present and analyze knowledge risks and their management in companies offering knowledge-intensive business services. The chapter illustrates potential knowledge risks, with a special emphasis on risks related to firms offering knowledge-intensive business services, and then discusses the results of a case study research conducted among 13 small KIBS firmsKIBS firms from Poland. The study is of a novel character, as there is hardly any study devoted to a plethora of knowledge risks in companies, and therefore, it contributes to the development of the research field of knowledge risks. It also takes a look at the perspective of KIBS firms, which is still an underexplored topic. As the study shows, the most frequently indicated riskRisk was the loss of knowledge associated with the departure of an employee. This result confirms the expectations that for KIBS firms’ human resources are important, and the risks related to them are of special interest. At the same time, leaving employees often supply competitive organizations or even establish their own companies to provide similar services. This is due to a large specialization in a given area of knowledge, necessary to perform tasks at KIBS firms. Other risks identified by the respondents include: problems in communication and knowledge flow, lack of codified/documented knowledge, theft of knowledge (e.g., by competitors), possession of false knowledge or inability to properly use true knowledge (e.g., in the case of clients), contradiction of knowledge obtained from various sources, lack of acquiring knowledge or even disowning by the customer receiving knowledge, aging knowledge, and excess of knowledge.