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Chapter
Summary
Knowledge is power. Knowledge assets and intellectual capital are potential sources of wealth. The creation and management of knowledge can lead to new, novel applications and products. Sharing knowledge throughout a firm can enhance the firm’s processes and core competences, thus making the firm more innovative and competitive. Prototypes are models of a product or service and can help a new technology venture to learn about the right form of the product for the customer. Scenarios are used to create a mental model of a possible sequence of future events or outcomes. Knowledge acquired, shared, and used is a powerful tool for the entrepreneur to build a new venture organization.
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KnowledgeNet
(A)
Describes the internal reporting package for a rapidly growing
company in the e-learning industry. Management must analyze
the data in the package and decide what actions to take. They
must also decide what to communicate to the board of directors.
Contains a description of the company and a copy of the reporting
package. Teaching Purpose: To expose students to issues related
to measuring the performance of the company as a basis for
improving performance.
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Vermeer
Technologies (B): Realizing the Dream
The Vermeer team works day and night to develop its software
offering, unforeseen difficulties and internal tensions notwithstanding.
In less than a year, the product is ready. The Vermeer team
waits anxiously for the market to pronounce its verdict. Teaching
Purpose: Exposes students to the intensity of the compressed
development process characteristic of start-up companies,
especially in the Internet business, in which speed is of
the essence.
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David
Neeleman: Examples of Great Companies
What are examples of other companies that are good examples
with strong customer service, organizational culture and business
models? ~~I often wonder what the people in Troy, Michigan
thought when they first heard about WalMart. Sam figured out
that knowledge in distribution, price points, and that little
human touch would revolutionize retail. Dell Computer is another
example--computers are a really bad industry right now, but
Dell manages to offer low prices, and offers great customer
service and personalization. Nucor steel has been successful
in the steel industry. JetBlue apires to model the successes
of these companies.
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What's Your Strategy for Managing Knowledge?
The rise of the computer and the increasing importance of intellectual assets have compelled executives to examine the knowledge underlying their businesses and how it is used. Because knowledge management as a conscious practice is so young, however, executives have lacked models to use as guides. To help fill that gap, the authors recently studied knowledge management practices at management consulting firms, health care providers, and computer manufacturers.
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