This post is the fourth in a five-part series on organizational excellence, which comprises five elements. The first three, discussed in previous posts, include process management, project management and change management.

We live in a knowledge-based economy. Most organizations’ value is defined by their intellectual capital rather than their physical assets. “The fundamental building material of a modern corporation is knowledge,” says Hewlett-Packard’s Valery Kanavsky. All organizations have it, but most don’t know what they know, don’t use what they do know and don’t reuse the knowledge they have. In today’s economy, knowledge is power, and power brings success. Failure, survival or success depends upon the way an organization uses its knowledge. Continue reading