Knowledge to Value (K2V)

I was recently asked to keynote a conference on Turning Knowledge Into Value, funded by the European Union. That’s something I care deeply about, and I am greatly honored to have been asked. I have been head-down on that, and will share with you at least a top-line on what I’ve come up with.Tim in Turkey

I was at first planning to pull a few slides out of my Knowledge Value Chain® Handbook, and call it a day. But then the organizers doubled my speaking time, and at the same time I realized I wanted to give them more than that.

Knowledge is the engine of value

The KVC model can be the starting point for examining various issues. I decided to use the KVC core principles as a jumping-off platform, but to then get more granular on how you actually go about building an “engine of value” on a foundation of knowledge — step by step.

My experiences on the faculty of Columbia University’s Information and Knowledge Strategy program were helpful, as were comments from other faculty members there. But I also began to weave in themes from my stints in new product development at KPMG and PwC, as well as from the development of The Knowledge Agency. During those efforts, I’ve learned empirically — by trying things, by making mistakes, and by eventually finding out what works best.

Knowledge as a Service

In my experience, all knowledge is tacit. Knowledge is irreducibly human — it all resides in our heads. Before it can be socialized or shared, it must be made explicit — which we do though language and other forms of mediated symbolic expression.

In KVC terms, the way to get your knowledge into your client’s head is to first convert it into “information”. Then you can “communicate” it to the client, who can then convert it into his own tacit knowledge — and then make decisions and execute value-generating actions based upon it.

But “Knowledge as a Service” — as I refer to nearly-pure knowledge disciplines like law, finance, and management consulting — is only one avenue for knowledge to be manifested in a value-generating form.

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    COMPETING IN THE KNOWLEDGE ECONOMY is written by Timothy Powell, an independent researcher and consultant in knowledge strategy. Tim is president of The Knowledge Agency® (TKA) and serves on the faculty of Columbia University's Information and Knowledge Strategy (IKNS) graduate program.

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    "During my more than three decades in business, I have served more than 100 organizations, ranging from Fortune 500s to government agencies to start-ups. I document my observations here with the intention that they may help you achieve your goals, both professional and personal.

    "These are my opinions, offered for your information only. They are not intended to substitute for professional advice."

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    COMPETING IN THE KNOWLEDGE ECONOMY is sponsored by the Knowledge Value Chain® (KVC), a methodology that increases the value and ROI of Data, Information, Knowledge, and Intelligence.

    The contents herein are original, except where otherwise noted. All original contents are Copyright © TW Powell Co. All rights reserved.

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    E SCIENTIA COPIA. Knowledge is the Engine of Value.