Good Knowledge Drives Good Business

This is an article inspired by a session I ran with new businesses as part of Surrey University’s Investor Readiness Programme and my work with Plan Zheroes, It sets out to illustrate why good knowledge and information management matters to a new business.

A business is the sum total of its intellectual capital/property (‘knowledge assets’).  Drawing on examples from hospitality, renewable energy storage and third sectors, it will demonstrate the value of checklists, a technical backbone, the right cultural environment and feedback loops in identifying, nurturing and exploiting knowledge assets.

Here’s what Claire & Luke (Editors of Business Information Review) had to say about it in their Editorial:

Good knowledge drives good business

Another regular contributor to Business Information Review, Paul Corney shares his experiences of working with emerging enterprises and business start-ups in developing good knowledge and information management practices. Reflecting Screen Shot 2015-09-02 at 09.16.05on the experiences of small and medium-sized enterprises in the business and third sector, Paul illustrates in his article why information and knowledge management matter to new businesses. As Paul notes, ‘ultimately a business is worth the value of its intellectual capital/intellectual property. These “Knowledge Assets” might take the form of patented products, an efficient process, a unique piece of software or brand and reputation built over time’. The lessons here for directors of start-up are obvious, but there are lessons also for those who work with information on a day-to-day basis within larger or more established organizations.

I’m glad Claire & Luke ‘got it’.  Well run and profitable business is about making effective use of knowledge and creating and enhancing its Knowledge Assets. So it follows that:

Putting in place effective measurement is key in order to demonstrate value. As KM standards get integrated into global quality and manufacturing standards so the drive for better KM will be felt. Young organizations can get ahead of that curve by putting some of these simple techniques in place today.
As a footnote I am particularly delighted to have been asked to serve on the BSI KM Standards Committee that is going to input into the to be publsihed ISO Quality Standards.

And finally

You can get the full article from here: Business Information Review Q3 2015