Knowledge Dimensions to Monitor Knowledge Growth in Service Sector

Abstract

Knowledge Management (KM) is a continuous and systematic process in which knowledge is transferred from the lowest level where it is generated to the processing centre of the organization so that it can be utilized to bring about beneficial changes to the organization. For this process to become effective with maximum returns, it should be a systematic and deliberate building up and application of knowledge. So KM in this organizational concept involves four steps: (a) A process by which knowledge assets are identified; (b) Development of assets through renewal and analysis; (c) Capturing the relevant details and preservation of the same; and (d) Sharing of thus processed knowledge, thereby assisting the process of usage. When an organization improves its efficiency and innovation through the process of KM, it acquires a non-replicable advantage over its competitors. But in order to do this effectively, the knowledge component has to be quantified and priced .So for a knowledge economy to function, it becomes imperative to measure the performance of a KM system. This paper focuses on this dilemma and tries to come out with parameters in the service scenario to monitor knowledge growth which in many cases is difficult to quantify.