Assignmentof

Knowledge management:

Topic: Importance of Human Intellectual Capital in Corporate world.

Submitted To:Sir. Kaleem A. Barlas

Submitted By:Fahim Afridi

Reg # 1432-310504

MBA-V

Importance of Human Intellectual Capital in Corporate world

An successful organization is dependent on many factors, innovation, the right product at the right time, it's connection to customers and lots more.But under it all lies general knowledge and the efficiency in which such accumulated knowledge is shared and used. Human Intellectual Capital for "short".

Today the somewhat structured tasks (support functions, bug fixing etc.) are mostly covered, we're flush with bug tracking software and CRM systems (but one might add, where's the focused learning and efficient knowledge distribution and use in those?).It's the ad-hoc small and big issues that fills most of the working day. So the effect of capturing what happens there, flipping that into organization-wide learning and making it easily accessible and useful would have a huge effect.Beyond the boundaries of our own knowledge, employees often find that seeking out company knowledge can be time consuming, and typically not easy.  Companies today spend millions of dollars to boost employee productivity on transactional related activities as well as pushing these in many cases out to the consumer, but what they have yet failed to realize and adjust for are tacit interactions. 

These tacit interactions, call them one-to-one, or one-off's, are costing companies millions of dollars and hindering companies additional economic growth.  Companies need to raise the bar by boosting worker productivity and making these workers most effective at what they do.  With the increasing baby-boomer generational shift to retirement, these key employees will take valuable company knowledge with them as they retire, leaving those that follow and the companies in some instances struggling to maintain.  So, finding ways to retain this information should be in the forefront of executive leadership strategies and initiatives.

The human resource is still the most fundamental and reliable resource in any organization from the point of view of adaptability, capacity building, intelligence development and motivation to perform. Innovative technology impacts on globalize business practices and trends, and affects competitiveness. Subsequently, the intelligence factor in any organization must continually acquire new intelligence and skills through capacity building and knowledge development to remain a market player.

Every day, processes, machines and installations are continually being changed, upgraded or replaced by technically advanced models. The same applies to the workforce through knowledge management and skills building. Most people associate IT as the fundamental tool for modernisation. However, IT requires the IC (intellectual capital) content in order to use and maximise applications.