Process and Product Approaches in Knowledge Management

Abstract

The twenty-first century marks the beginning of an era in which the traditional pillars of economic power — capital, land, materials and labor — are no longer the main determinants of business success; instead, achievement will be essentially determined by our ability to use knowledge, a precious global resource, wisely. This is due to the constant and overwhelming change in the business environment, from one in which the market assumptions were stable, the business rules were rigid, the com- mand-and-control management model was adequate, competitors and customers were known and the future was almost predictable, to an environment in which the only thing that can be predicted is unpredictability itself.