Knowledge Management experts agree that tacit knowledge is most valuable type of knowledge to a company. Thus, value of most companies lies in their knowledge assets!

However, knowledge does not eliminate need for skill - knowledge must be backed by skillful application of that knowledge.

As a manager, your success depends on your ability to capture and manage those assets. Don't rely on random emails and documents. Instead, foster a culture of sharing knowledge.

One of best knowledge management systems you can implement is to develop operations manuals (before it is too late).

============================================================ Knowledge alone is not enough - it takes management support for employee satisfaction. ============================================================

A label has emerged for employees who are hired for what they know: "Knowledge Workers."

The management of knowledge workers boils down to a marketing application, where management asks question, "What do knowledge workers want from us?" Instead of, "What do we want from them?"

Most knowledge workers want management's support. And they derive job-satisfaction from using their special knowledge to solve problems and make a contribution.

"People have to see tremendous immediate benefit from knowledge management. They have to see, smell, touch and taste how it's going to improve their work lives. -- Barbara Saidel, CIO, Russell Reynolds Associates

============================================================ Questions to ponder ============================================================

As a manager, what "knowledge" are you more interested in - theories or how to apply them?

Why do you hire a knowledge worker?

What is your key resource today - m0ney or knowledge?

How could you use m0ney to leverage special knowledge? How could you use special knowledge to leverage m0ney?

As an employer, how much, (if any) of your employees' intellectual capital do you "own?"

What's more important - intellectual capital or its effective application?

What did you learn today that you found most beneficial? How will you apply what you have learned at work? Any other comments are welcome:

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The brain is a wonderful organ. It starts working moment you get up in morning and does not stop until you get into office. -- Robert Frost ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Until next week...

Best Regards,

Mike Hayden, Principal/Consultant Your partner in streamlining business.

PS. If you're not on our P V T Roster, sign up (fr#e) at: http://www.SeniorManagementServices.com

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(c) 2005 Mike Hayden, All rights reserved. You may use material from Profitable Venture Tactics eZine in whole or in part, as long as you include complete attribution, including live website links and email link.

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I let powerful voice of Buddha in My Back Pocket counter accusations of Shrew. He asked, "What were your reasons for making choices you did this morning?" and "Would you make these same choices again?" Then he reminded me of two universal truths: "You are doing best you can" and "Growth involves observing one's actions and then learning from them." Under this influence of love and a genuine intention to seek understanding, I was able to temporarily silence Shrew, objectively analyze my "lateness" and gain valuable personal insight. Within a few minutes, I felt relieved, re-engaged in life and able to peacefully continue with rest of my day.

Unfortunately, we can't eradicate Shrew completely. But we can learn to access this equalizing force: pursuit of empathetic understanding – a loving friend that takes your side and helps you learn about yourself in a safe and protected way. The Buddha in your Back Pocket is always with you to calm your mind, forgive your errs, and remind you of growth in your life. As you cultivate your relationship with Buddha in your Back Pocket, you will experience more self-love, confidence and peace.

Life is too short to spend time unnecessarily berating ourselves with critical self-talk! Go forth into your day and bring Buddha in Your Back Pocket with you. You never know when you might need it!

*I do not wish to offend anyone by using title Buddha. I have utmost respect for Buddhist tradition. In this article, I refer to Buddha as a representation of an enlightened teacher offering guidance to those who chose to listen.

Deirdre's coaching is an accelerant that helps produce results. Using practical analysis, active listening and brainstorming, she challenges you to improve your quality of life immediately.