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Knowledge Management -MGMT-630
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? Copyright Virtual University of PakistanKnowledge Management -MGMT-630
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Knowledge Management -MGMT-630
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VULESSON IMANAGING INTANGIBLE RESOURCES AND KNOWLEDGE WORKERS
 Knowing 
ignorance is strength Ignoring knowledge is sickness-
L.TSU
The Growing Importance of Knowledge and Knowledge Workers
 Tangible resources like rupees, land/buildings, motors/machinery and manual/physicallabors are no doubt important to run a farm or a factory but all of these tangibleresources can be bought or borrowed. On the other hand, brand image, reputation,information, talent, and knowledge are some of the intangible resources requiredfor a modem organization to survive and thrive in the 21
st
century global marketsand these intangible resources cannot be bought or borrowed. The rise of information and knowledge based work has been foreseen for manyyears. Automation in factories and farms in developed economies for more than acentury ago freed most of the workforce from having to perform physical labor. Overthe last half-century, the advent of computers and the pervasive presence of information created a demand for workers who could produce the information in thefirst place, extract meaning from it, and take action on it.Organizations with a high proportion of knowledge workers - let
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s call themknowledge intensive organizations - are the fastest-growing and most successful inthe United States, Singapore Finland, Sweden and other leading economies, andhave generated most of these economies
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growth in the past couple of decades. Themarket value of many knowledge-intensive companies - which includes the market
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sperception of the value of knowledge and knowledge workers - dwarfs their bookvalues, which includes only tangible assets. Even in so-called
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industrial
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companies,knowledge is increasingly used to differentiate physical goods and to fueldiversification into product-related service. As Prof. Quinn has pointed out, highproportions of workers in manufacturing firms (roughly 90 percent insemiconductors, for example) never touch the manufacturing process, but insteadprovide knowledge-based services such as marketing, distribution, or customerservice.It
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s already apparent that the firms with the highest degree and quality of knowledge work tend to be the fastest-growing and most profitable. Microsoft, forexample, is one of the most profitable organizations in the history of the planet.Pharmaceutical firms not only produce sophisticated and life-saving drugtreatments, they also tend to have high profit margins. Growth industries generallytend to be those with a high proportion of knowledge workers.Following categories of work can be placed into the knowledge workers camp:ManagementBusiness and financial operationsSoft/Hard we and electronic engineerArchitecture engineeringLife, physical, and social scientistsLegal personnel
 
Health care practitionersCommunity and social servicesEducation, training, and library staff Arts, design, entertainment, sports, media.System Manager/Analyst, Project Manager
 
Knowledge Management -MGMT-630
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Knowledge Management -MGMT-630
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 The classification above yields about 36million knowledge workers in the United States alone, or 28 percent of the labor force.While no classification scheme is perfect (for example, professional athletes areincluded in the knowledge worker group. Because the U.S government data lumpsthem in with arts, design, entertainment, and media workers),
it's clear that mostpeople in these jobs think to earn for their living.
Within organizations, knowledge workers tend to be closely aligned with theorganization
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s growth prospects. Knowledge workers in management roles come upwith new strategies. Knowledge workers in R&D and engineering create newproducts. Knowledge workers in marketing package products and services in waysthat appeals to customers. Without knowledge workers there would be no newproducts and services, and no growth.
Knowledge Workers and the World Economy
Prof. Dr.Peter Drucker, who was the first person to describe knowledgeworkers to any substantial degree (in his 1959 book Landmarks of  Tomorrow), said as far back as 1969 that:`To make knowledge work productive will be the great managementtask of 21st century, just as to make manual work productive was thegreat management task of the 20th century. Then in 1997 Drucker went even further out along the knowledge worker limb:
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 The productivity of knowledge and knowledge workers will not be theonly competitive factor in the world economy. It is, however, likely tobecome the decisive factor, at least for most industries in thedeveloped/developing countries.Why did Drucker - and why should we - believe that knowledge workersand their productivity were so important to the world economy? Thereare a variety of reasons. First, they are large and growing category of workers. If we can
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t figure out how to make more than a quarter of thelabor force more productive, we
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re going to have problems with oureconomy overall. Second, they are comparatively expensive type of worker that organizations employ, so it
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s doubly shameful if they
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re notas productive as they could be. Third, they are key to the growth of many economies. Agricultural and manufacturing work has generallybecome commoditized, and is moving to the economies where they canbe performed at the lowest cost. The only forms of agricultural orindustrial work that survive in sophisticated economies are those inwhich a high degree of knowledge has been injected - for example, inbiotechnology manufacturing, or in
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precision farming,
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in which thefertilizer and pesticides administered to a given crop are carefullymonitored using GPS devices in tractors. If agriculture andmanufacturing are moving to countries with low labor costs (China is aparticularly good example), the jobs that remain in the so-calledknowledge-based economies are particularly critical to these countries
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economic survival. It
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s not clear exactly what workers in the UnitedStates, Western Europe, and Japan are going to do for a living in thefuture, but it is clear that if these economies are to prosper, the jobs of many of the workers must be particularly knowledge -intensive. Yet despite the importance of knowledge workers to the economic success of 
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