Knowledge management has been drawing a great deal of attention from researchers and practitioners since a few years ago. The underlying reason for this phenomenon is that traditional management principles has neglected the importance of the fifth man...
Knowledge management has been drawing a great deal of attention from researchers and practitioners since a few years ago. The underlying reason for this phenomenon is that traditional management principles has neglected the importance of the fifth management source named knowledge with which a modern business firm can cope with turbulent environment with a high level of competence and effectiveness. Therefore, as Drucker noted, most of modern business firms realized that they are performing daily managerial activities in a so called knowledge society where knowledge-intensive firms can excel those capital-intensive firms, and be highly evaluated in the market. However, the remaining problem is that there do not exist robust methods for precisely and objectively measuring the amount of intellectual capital or knowledge which is believed to be tacitly stored in the management process, personnel power, and customer relationship which the firm has struggled to obtain in the market.