Harnessing and managing intellectual capital in an organisation translates into competitive advantage in a world where knowledge means efficiency, innovation and faster decision-making. Ultimately, knowledge management is a realisation that who and what you know are powerful tools in an organisation. Just like any other asset, knowledge needs to be managed effectively for maximum return on investment.
Ernst & Young`s internal knowledge management capabilities are internationally acclaimed - the 2001 Most Admired Knowledge Enterprises study placed Ernst & Young first in ability to develop and deliver knowledge-based goods and services. Since the inception of the survey, Ernst & Young has been consistently ranked ahead of the other `Big Five` professional advisory services firms in its knowledge management capabilities.
"The value of most companies can be found in their people. The business models and knowledge infrastructures that Ernst & Young creates not only helps their clients and their own employees prosper but they also set the standard for the information economy as a whole," says Dave Maclean, head of Ernst & Young`s Centre for Business Knowledge (CBK). "I`m proud to be part of Ernst & Young`s unique and leading-edge business tool."
The organisation`s knowledge management capabilities enable Ernst & Young to maximise professional productivity and deliver a superior level of service to clients. This programme manages how employees gain knowledge, how they share that knowledge and how the company can maximise that capital.
The knowledge management process is driven by the Ernst & Young Centre for Business Knowledge (CBK). The CBK integrates knowledge management into the daily responsibilities of Ernst & Young professionals. Its 14 worldwide locations ensure the firm delivers significant client value through capturing, reshaping and transferring intellectual capital. Information generated by the CBK is stored and delivered via the firm`s KnowledgeWeb, which provides the firm`s 77 000 global professionals instant access to collective knowledge from more than 1 200 knowledge bases, including best practices, industry news, information on previous client work and articles from over 5 500 publications.
The real value of intellectual capital is in the heads of the staff of Ernst & Young. Their skills, experience, insight and intuition, the trust they have invested in relationships inside and outside the organisation has to be evaluated, shared and leveraged. The Centre for Business Knowledge manages this process and makes it simple for staff and clients to tap into this valuable asset, said Maclean.
"Data becomes information when it`s organised; information becomes knowledge when it`s placed in an actionable context and managed effectively. Ernst and Young has mastered this process with CBK," concluded Maclean.
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