Enterprises need interactive forward thinking intelligence for competitive advantage

During the 9th European Conference on Intellectual Capital in Lisbon in April 2017, Dr. Larry Lucardie states that in our current economy the value of knowledge is not in line with its economic valuation.

The increasing value of knowledge is the result of the transition towards a knowledge-based economy.
This complex system follows laws different from the industrial economy and companies have to adapt.

First of all, we need to adopt an adequate theory of the knowledge and technology aligned to this theory. The theory of functional object-types (Lucardie, 1994) and the Match™ Technology Framework are examples. Implementations in the financial and telecommunication areas have very promising results, e.g.: better structured process descriptions and documentation, improved and cheaper software specifications and rapid application development.
This yields a reduction of operational expenditure and increased agility.

Second, ICT needs a revision so that applications facilitate knowledge processing in separate transparent and modifiable knowledge bases that render applications superfluous and decrease IT application complexity. Digital knowledge bases can be made available through web services. Especially in the internet channel, enterprises need interactive forward thinking intelligence for sales and advice to massive markets. ICT architectures need to change into knowledge-based IT architectures that are flexible enough to cope with the dynamics of complex socio-economic systems.

Third, we need change management to learn that human resources work and think differently (knowledge sharing instead of knowledge possession), while changing rewarding and remuneration systems. A knowledge-based way of working can only be implemented if an organizational culture is addressed.