Knowledge asset
Definition
Knowledge asset is Those parts of an organization's intangible assets that are knowledge such as know-how, best practices, and intellectual property. Knowledge asset is often used as a synonim with intellectual asset
Summary
Description
Knowledge asset refers to an economical view of organization's knowledge. Knowledge assets are developed via investments with the expectation that this investment enhances potential income earning of the organization. Examples of knowledge assets include best practices, codified explicit knowledge and intellectual property. As part of organisation's knowledge is embedded in people, knowledge asset inevitably overlaps with human assets and includes also knowledge of the individual members of the organisation. Where human assets were described as asset that walks out in the end of each day, knowledge assets include codified or documented assets.
Nonaka et al defines knowledge assets as "firm-specific resources that are indispensable to create values for the firm". They divide knowledge assets into four categories: experiential knowledge assets, conceptual knowledge assets, routine knowledge assets and systemic knowledge assets [1]. Experiential knowledge assets include know-how of individuals and routine knowledge assets the tacit knowledge which in embedded in the daily routines of the organisation. Systemic knowledge assets include the codified explicit knowledge of the organisation which is stored e.g. in documents or databases.
and conceptual knowledge refer to explicit knowledge of the organisation articulated through symbols or organised in documents or databases, respectively. They connect the development of these knowledge assets into the SECI model of knowledge conversion.
Knowledge management and the related processes provides organisations with the means to manage their knowledge assets.
References
[1] Nonaka, Toyama, Konno, 2000, SECI, Ba and Leadership: a Unified Model of Dynamic Knowledge Creation in Long Range Planning 33.
