Knowledge As A Business Asset

The value balance between developing an idea and its practical realization changes with time. As automation is widely used throughout all industry branches, the price of getting a know-how becomes relatively higher. Consequently, it becomes the best area to focus at.

The information era started when cost of knowledge came close to that of traditional enterprise assets such as industrial assembly lines or raw resources. Certain piece of machinery can be precious today but knowledge is needed for upgrading it to keep fit tomorrow. Resources can be rare, yet knowledge helps using them more effectively. Finally, knowledge helps finding new technology paths and opening new markets.

We have already talked much about automation in modern business. As more work gets done by automated systems, high level tasks gain more importance. They include creation, taking risks, strategic decisions making, managing intellectual property etc. And all those things are based upon knowledge.