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Introduction to knowledge management

New opinions are always suspected, and usually opposed, without any other reason but because they are not already common …[and] …

No man's knowledge here can go beyond his experience. ( John Locke, 1690, Essay Concerning Human Understanding)

The empires of the future will be empires of the mind. (Winston Churchill, 5 September 1943, Speech at Harvard University )

Wisdom is not a product of schooling but of the lifelong attempt to acquire it. (Albert Einstein)

This is the first chapter in our chapter and the first chapter covering our section on knowledge management. As the title suggests study is focussed on defining knowledge so we have a platform for our study of knowledge management (KM).

We will see that in the New Economy knowledge has value to the organisation not just because of how it is used to improve the efficiency and effectiveness of outputs (the ‘old’ Industrial Age paradigm). Rather, value resides in the current and potential capacity individuals and their networks have to create sustainable competitive advantage for the organisation (the ‘new’ Knowledge Age paradigm).

Learning outcomes

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