Economies in the 21st century are being characterized as knowledge-based instead of physical-based. Knowledge resources are the key resources in the economies and produce relatively higher income as compared to the physical resources. Knowledge is the key driver to income and economic growth. Knowledge resources travel across the global market and international market boundaries much faster than the physical resources. Economies which earn high income are economies which relied heavily on knowledge resources.

Successful and sustainable firms in the 21st century are those which focus on knowledge resources. We witness the emergence of non-conventional firms such as those in the following industries: financial services, education services, pharmaceutical, telecommunication, software and networking, information and communication technology and etc. We also witness the transition of conventional firms such as those in the manufacturing industry adding knowledge elements into their existing operations and products.

At firm level, knowledge consists of tacit knowledge inherent in human capital, individually and collectively. A firm as a whole accumulates knowledge, which reflects the collective knowledge of all individuals in the firm. When the tacit knowledge, both within individuals and collectively within the firm, is documented, it becomes codified knowledge of the firm. Codified knowledge includes research outputs, developed products and services, business processes, knowhow, networking, customer lists, and etc. Both tacit and codified knowledge contribute to the business performance of the firm.

Firms need to capitalize their knowledge, both tacit and codified, within their human capital and organizations, if they want to see knowledge drives value. Knowledge which drives value is an asset to the firms. At CK Business Consulting, we assist you in Capitalizing Knowledge which inherent in your firms and make knowledge a value driver in shaping your success. In addition, we assist you to release the value of knowledge, both tacit and codified, in your firms. Capitalizing Knowledge is our philosophy of business performance.