This influential book establishes the enduring vocabulary and concepts in the burgeoning field of knowledge management. It serves as the hands-on resource of choice for companies that recognize knowledge as the only sustainable source of competitive advantage going forward.

Drawing from their work with more than 30 knowledge-rich firms, Davenport and Prusak—experienced consultants with a track record of success—examine how all types of companies can effectively understand, analyze, measure, and manage their intellectual assets, turning corporate wisdom into market value. They categorize knowledge work into four sequential activities—accessing, generating, embedding, and transferring—and look at the key skills, techniques, and processes of each. While they present a practical approach to cataloging and storing knowledge so that employees can easily leverage it throughout the firm, the authors caution readers on the limits of communications and information technology in managing intellectual capital. When new-car developers at Ford Motor Company wanted to learn why the original Taurus design team was so successful, no one could tell them. No one remembered or had recorded what made that effort so special; the knowledge gained in the Taurus project was lost forever. Indeed, the most valuable asset in any company is probably also its most elusive and difficult to manage: knowledge. Authors Thomas H. Davenport and Laurence Prusak assert that learning how to identify, manage, and foster knowledge is vital for companies who hope to compete in today's fast-moving global economy.

Working Knowledge examines how knowledge can be nurtured in organizations. Building trust throughout a company is the key to creating a knowledge-oriented corporate culture, a positive environment in which employees are encouraged to make decisions that are efficient, productive, and innovative. The book includes numerous examples of successful knowledge projects at companies such as British Petroleum, 3M, Mobil Oil, and Hewlett-Packard. Concise and clearly written, Working Knowledge is an excellent resource for managers who want to better harness the experience and wisdom within their organizations.