Unravelling the knowledge management puzzle

Accountants and business managers can unravel the meaning of knowledge management by observing and categorizing Web-based information on knowledge management. The traditional transaction-based accounting model fails to capture the discrepancy between book and market values of new economy dot-com and...

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Bibliographic Details
Published inCA Charter Vol. 71; no. 7; p. 44
Main Author Sharma, Rob
Format Trade Publication Article
LanguageEnglish
Published Sydney Institute of Chartered Accountants in Australia 01.08.2000
Subjects
Bond portfolios
Business valuation
Competitive advantage
Discount rates
Innovations
Knowledge management
Knowledge sharing
Pharmaceutical industry
Australia
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Summary:Accountants and business managers can unravel the meaning of knowledge management by observing and categorizing Web-based information on knowledge management. The traditional transaction-based accounting model fails to capture the discrepancy between book and market values of new economy dot-com and pharmaceutical companies. One approach used to value such companies is Baruch Lev's Knowledge Capital Scoreboard. Dynamic tools such as the Skandia Navigator and the Intangible Asset Monitor assist organizations to manage their knowledge performance relationship on an ongoing basis. The sharing of knowledge is currently visible in Big 5 firms and virtual libraries. Recognizing that knowledge will be a key differentiator in the new economy, Michael Porter and MIT's Scott Stern have begun to track knowledge management activity across 25 countries by computing an Innovation Index.