A knowledge asset is information gained from a company’s experiences or innovation that can become physical assets, such as patents or copyrights, or intangible best practices. Companies with valuable knowledge assets have a competitive advantage. Processing and distilling information into best practices is crucial.
A knowledge asset is an asset that is generated from an organization’s experiences or innovation that can become actual physical assets such as wealth in the future. Some of these assets are tangible, such as copyrights or patents that are owned by a company and can be turned into profitable products. In most cases, a knowledge asset is an intangible piece of information gleaned from a company’s production processes, investment history, or workforce that can be impactful when used correctly. Distilling this information into usable best practices for building an organization and doing business is how this knowledge becomes so valuable.
There are many companies whose value is obvious from the numbers on their balance sheets or income reports. Few of these companies stumble upon this type of wealth by accident. They do this by using insights that come from thought leadership or trial and error over time. No matter the case, the companies with the most useful knowledge can gain a competitive advantage over their rivals. As a result, a knowledge asset can be as important as any physical asset owned by a company.
Some examples of a knowledge asset have actual physical manifestations. A company that holds a patent for some revolutionary commercial product or money-saving production technique can easily turn that patent into profit. Copyrights are just as valuable, given that they give the company that owns them exclusive rights to the assets they protect. Each of these documents emanates from the knowledge of their creators.
In many cases, a knowledge asset is intangible information. That information can come from the company’s past experience in any number of areas. The management of a company can learn from experience how to align its organization, streamline production, market products, serve customers, etc. On certain occasions, the asset may come not from experience, but from some kind of innovation created by someone in the company’s workforce.
While a knowledge asset is undoubtedly valuable, the process that turns that knowledge into useful information is just as important. A large company has to process seemingly endless chunks of information from multiple sources and distill all of that into something that can help businesses. Knowledge assets are especially useful for a company that wants to design best practices. Best practices are the optimal methods for conducting business organization in each department, and the company that can rely on its best practices has a great advantage over those companies that are still searching for answers.
Smart Asset.
Protect your devices with Threat Protection by NordVPN
