Knowledge is the key
All company knowledge and experiences contribute significantly to its intangible assets, its sources and to its capital and therefore it is essential to treat and manage them accordingly. This is despite the fact that they are extremely difficult to understand, measure, secure and protect as they are highly risky, unstable and last but not the least, underestimated.
Being open is always better
Secrecy hampers knowledge development. It is a more progressive strategy to develop an edge by enhancing the knowledge pool rather than excessively guarding and hence limiting the existing one. Moreover, keeping secrets is expensive. It is necessary to focus our resources to keep confidential the information that is most business critical &/or as required by the law and develop a clear classification system for rest (“make or break” principle).
Knowledge overlap is essential
Should an employee be able to share/pass on her/his knowledge, we can understand and ‘manage’ her/him better and prevent the fatal impact on the company in case of her/his departure. There must be someone (not necessarily on her/his level) covering her/his part of knowledge and with whom she/he is able to communicate and possibly learn from her/him, someone who is able to replace her/him at an acceptable quality level. With regards to motivation to share knowledge it is better to have more employees with excellent skills in different areas that the employee also needs. The best solution is to have a team covering the wide range of overlapping knowledge, interested in continuous learning and which motivates its members to sharing of information and knowledge. In plain words – from the company’s perspective to employ a person doing something the others do not understand, whom we are not able to control or manage or to predict the impact in case of her/his departure, poses more risks than benefits.
Facts need to be understood, not modified
The fact that there are things that can not change does not mean it is not possible to understand them and have an opportunity to analyze their consequences. Our inability to comprehend something does not mean that we cannot identify it and take it into account while making decisions. Recognizing what we do not know is one of the most valuable knowledge, for our decision whether to invest or not to invest to acquire it.
Understanding of context is crucial
Information is important, but understanding the context and ability to see the "thing" from multiple perspectives is even more important. If we source from quality information systems, the information could be relatively cheap and fast and it is often advantageous to buy it when it is needed To acquire the ability to see the context is a long-term process and does not necessarily have to meet with success even after huge investments. Simply put – information is of no value without its full understanding.
Systemic solution must always be a priority
In the long term a non-systemic solution, despite its excellent instant benefits is worse than the systemic one. A system (Technology, Culture and Management), one that is able to identify and correct errors constitutes the most valuable part of the company assets.
To know only the necessary things means to know them better
All the sources are limited. It applies doubly to the human brain. If we invest its capacity and time in something that is not useful to it, it will be found missing when it is really needed. This ultimately leads to worse than expected results. At the same time, we should always know where, how quickly and at what cost we can find the knowledge that is required.