Appreciating Knowledge

Throughout the centuries, the study of knowledge intrigued and perplexed humans. The 20th century witnessed an increased interest in the study of knowledge within the organization as a result of the recognition that an organization must effectively manage knowledge, its most critical resource, to sustain competitive advantage . Knowledge is an indispensable resource, a strategic asset, that is fluid and intuitive and complex. Knowledge is more relevant to sustained business than capital, labor, or land.

In 1993, Peter Drucker introduced the concept of the knowledge worker and sensitized leaders to the criticality of the management of the intellectual capital that resides in employees’ minds. The growing appreciation of the value of the knowledge resident within employees’ heads, concurrent with the demographic shifts in the U.S. workforce, heightened leaders’ interest in the nature of knowledge and knowledge management. A thorough understanding of the nature of knowledge will assist organizational leaders in managing the acquisition and transfer of tacit knowledge within the organization.