Economics of Strategic Knowledge Management: A New Model for Assessment

Abstract

The increased prominence of knowledge related economics from the beginning of the 1990,s have coexisted with the development of the new view on business strategy that emphasizes resource efficiency rather than the generally accepted competitive forces. Organizations are implementing knowledge management (KM) systems with the assumption that the result will be an increase in organizational effectiveness, efficiency, and competitiveness. Practices of knowledge management are context-specific and they can influence organizational effectiveness. Using the lessons learned from early adopters, many organizations have effectively provided their employees with the tools they need for managing and sharing knowledge. In the e-economy era, for achieve and sustain the competitive advantage, the implementation of strategic knowledge management (SKM) is undeniable. Through knowledge driven reconfiguration, integration and innovation of organizational competencies, are gained. And consequently knowledge oriented organizational subsystems, provide the basis for strategic knowledge management enabling competencies to combine their knowledge on markets and products to gain sustainable competitive advantage. In this paper a framework for the evaluating the knowledge management implementation from the economic perspective will presented. For meet this purpose data was gathered from the experts of the field. In this paper, after literature review for the SKM and economic perspective of SKM, by means of a standard questionnaire required data was gathered from the experts in both academician and professional section of the field. After analysis the data the main economic factors affecting the SKM implementation in the financial services with focus on banking sector, will recognized and presented. In the final part of the paper applied and theatrical recommendations will presented.