The Enterprise Knowledge Market V1.2
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The Enterprise Knowledge Market V1.2

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Outlines the value of trading knowledge in an Enterprise 2.0 environment.

Outlines the value of trading knowledge in an Enterprise 2.0 environment.

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The Enterprise Knowledge Market V1.2 The Enterprise Knowledge Market V1.2 Presentation Transcript

  • The Enterprise Knowledge Market by Jeremy Thomas September 2007
  • Emerging markets produce high quality goods and services at low costs.
  • Companies must therefore innovate to remain competitive ( Rod Boothby ).
  • The capacity of 1000’s of knowledge workers to innovate is far greater than that of a few executives ( Rod Boothby ).
  • A knowledge worker is a professional who applies his or her intellectual capacities to the acquisition, processing, management, and communication of knowledge. ( translationbureau.gc.ca )
  • Enterprise 2.0 connects knowledge workers so they can share ideas, collaborate and innovate.
  • Enteprise 2.0 flattens hierarchies and removes contribution barriers . Output from troops in the trenches is directly visible to Generals on the hilltop.
  • Knowledge workers participate in an Enterprise 2.0 ecosystem because of the principles of the Invisible Hand (Adam Smith – the Wealth of Nations ) A knowledge worker “…intends only his own gain”, he seeks recognition which can ultimately lead to promotion and a pay raise.
  • And these “selfish” contributions make the enterprise as a whole better off .
  • How, then, are knowledge workers recognized for the work they do?
  • The Enterprise Knowledge Market (EKM)
  • The EKM discovers information assets in blogs, wikis, legacy content repositories – the entire enterprise information landscape.
  • An information asset is “a component or product of an information system that can be defined, scoped, and managed for reuse” ( nsw.gov.au ) Blog posts, wiki pages, project plans and detailed design documents are all example information assets.
  • The EKM then converts information assets into information commodities.
  • An information commodity can be thought of as a knowledge “…item produced for exchange” ( wikipedia ).
  • Information commodities are initially valuated based on: “ Page Rank” Subscriber Count Download Count Age
  • Then they’re left at the mercy of collective intelligence .
  • Knowledge workers “ buy ” or “ sell ” commodities in the EKM based on the value they derive from them. Think Digg.com .
  • A commodity’s value rises and falls with each buy/sell transaction.
  • The EKM showcases enterprise information commodities and their value index:
  • Over time, the enterprise (a.k.a. “the market”) adjusts the value index of information commodities to reflect the actual value the enterprise derives from them.
  • As a result useful information assets and genuinely innovative ideas are given visibility .
  • Visibility leads to recognition
  • Knowledge workers compete for recognition.
  • Competition fuels participation .
  • Participation  more quality information assets  increased probablility of innovative ideas surfacing .
  • Innovation  increased economic viability  happy enterprise .