3.knowledge and wisdom

8/8/2019 3.Knowledge and Wisdom

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August 30, 2010


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` Meaning of Knowledgeand Wisdom

` Difference between Knowledgeand Wisdom

` Knowledge Workerversus Wisdom Worker

` Concept of KnowledgeManagement` Concept of Wisdom management

` Wisdom BasedManagement


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Knowledge

` Expertise and skills acquired by a person through

experience or education

` The theoretical or practical understanding of asubject

` Awareness or familiarity gained by experience of a

fact or situation

` An important resource to create learningcapabilities in an organization

` Must be true, justified and believed


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` Data items are representations of events,

people, resources, or conditions They are the raw material for information

` Information adds value to data It provides recipients with understanding,

insights, conclusions, decisions,

confirmations, or recommendations


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` Knowledge is information organized and

processed to convey understanding,

experience, accumulated learning, and

expertise as they apply to a problem oractivity

Knowledge is information in context

Knowledge reflects associations and guides or

rules forbehavior


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` Acquaintance with facts, truths, or principles, as

from study or investigation; general erudition

(extensive learning)

` Familiarity or conversance, as with a particularsubject

` Acquaintance or familiarity gained by sight,

experience, or report

` The fact or state of knowing; the perception of factor truth; clear and certain mental apprehension


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Explicit Knowledge

` Formal knowledge that is acquired in documents

of the organization like

Reports, articles, manual, pictures, sound,video, software, brochures, online (company

website)

Defines the identity and competencies of the

organization

Articulated knowledge the words we speak,

the books we read, the reports we write, data

we compile


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Tacit Knowledge

` Personal knowledge that an individual gains

through his experience

` It is shared and exchanged through directinteraction

` Practical knowledge that is the key to get things

done

Includes intuition, beliefs, values, perspectives formedduring an individuals experiences

In an organization, it is the collective mindset of everyone

in the organization, which then assumes a unique set of

beliefs and assumptions


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` The quality or state of being wise

` Knowledge of what is true or right coupled with just

judgment as to action

` Sagacity (farsightedness), discernment, or insight` Scholarly knowledge or learning

` Wise sayings or teachings; precepts

` A wise act or saying

` Ability to make correct judgments and decisions

` It cannot be taught or acquired it has to be

earned and learned


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Knowledge = Information + Awareness

Wisdom = Knowledge + Experience + Sound

Judgement

Wisdom = Information + Awareness +

Experience + Sound Judgement


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Knowledge Wisdom

` Knowledge is information of

which someone is aware

` Knowledge is also used to

mean the confident

understanding of a subject,

potentially with the ability to

use it for a specific purpose

` Time: Changes overtime

` Source: Learning, education

` 'Wisdom' is the ability to

make correct judgments and

decisions

` It is an intangible quality

gained presumably through

experience` Ability to apply knowledge

from one context to different

contexts

` Time: Timeless

`

Source: Per sonalExperience


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Knowledge Wisdom

` Knowledge is collection of

information

` It is a deterministic process;

knowledge can be measured

` It can be acquired

` It leads t o wisdom

` Involves identification and

analysis of available

information; It plans and

controls actions to develop

knowledge assets forfulfilling organizational goals

` It is the analysis and

interpretation ofinformation

` It cannot be determined or

measured

` It cannot be acquired

` Is the outcome ofknowledge` It is the process by which we

judge between right and

wrong, good and bad


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Knowledge Wisdom

` It can be shared or

expressed by everyone

` It resides in the brain

` It is intellectual

` One can learn it

` It is rational and objective

` It is bound by logic and

reasons

` It applies rules

` It is individualistic wisdom

level ofall is different

` It resides in the mind & soul

` It is divine

` One can awaken to it &

acquire it` It is subjective & imaginative

` It is bound by spirituality and

not bound by rules

` It applies judgment


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` Knowledge teaches us to use our senses, to

observe and evaluate things or events around us

and our predecessors with a proper way of

recording` Wisdom teaches us what works and what does

not

` With a perfect blend ofknowledge and wisdom

in our lives, we c a n eliminate fear; we canmake our lives better


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` Since wisdom is a lifelong experience, it may also

be enhanced through knowledge

` Wisdom is also the common sense to apply

knowledge` Some theories also suggest that while knowledge

is gained from the outside world, wisdom comes

from the divine and inner self.

` They're are both related and cannot be appliedwithout each other


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` One must seek knowledge to awaken

wisdom

` The more we know, the more we realize

how much we do not know

` The wiser we grow, the more wisdom we

believe is yet to be discovered

` Wisdom does not come in sealed packets it has to be earned through free, fair and

higher standard of thinking


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` Knowledge is the awareness of the right facts and

figures and applying for use in everyday life.

` It may or may not be the right use.

` For example, dropping of the atomic bombs onJapan during World War II was an application of

knowledge

` Wisdom is the understanding of facts couple with

common sense and good judgment` The word has positive connotations which means

it is used only for the right cause


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` We all know that alcohol, drugs, cigarettes are

injurious to health

` But we continue to consume for our own interest

` We misuse the knowledge we have about them` Terrorists some of them are the most well-read,

knowledgeable people around


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` Is human mental work performed to generate

useful information and knowledge

` Indoing it, knowledge workers

Access and use data (observation or inrepositories)

Access and use per sonal knowledge,

organizational knowledge, and external

knowledge Employ mental models

Apply significant concentration and attention


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` Transforms corporate and personal experiences

into knowledge through capturing, assessing,

applying, sharing, and disseminating it within the

organization to solve specific problems or tocreate value

` Term coined by Peter Drucker in 1959

` One who primarily works with information

` Develops and uses knowledge in the workplace` Uses any form of recorded knowledge for

performance of regular business activities


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Managers

Professors

Financial analysts

Systems analysts

Accountants

Lawyers

Students

Characterized by:

` Knowledgeand

expertise

` Educationplus

ability to becreative,

innovative, solve

problems, and

create systems


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CoreCompetenciesCoreCompetencies

` Thinking skills having a vision

how the product or the company can

be better

`

Continuous learning

unlearningand relearning in tune with fast-

changing conditions

` Innovative teams and teamwork

via collaboration, cooperation, and

coordination

` Creativity dreaming new ways to

advance the firm


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CoreCompetencies contd.CoreCompetencies contd.

` Risk taking and potential

success making joint decisions

with calculated risk

` Decision action taking bewilling to embrace professional

discipline, patience, and

determination

`

Culture of responsibility towardknowledge loyalty and

commitment to ones manager or

leader


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Traditional vs.Smart ManagersTraditional vs.Smart Managers

Action-oriented Learning-oriented

Spend most time

supervising, delegating,

controlling and ensuring

procedures are complied

Focus on organizational

learning to ensure

operational excellence

Mastered the work of the

subordinates because they

were once workers

Expected not to have

mastered the work of the

subordinates

A supervisor and an order

giver

A facilitator and a teacher


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` Get the organization moving towardsachieving goals in line with rate of change

` Promote active learning to improve

knowledge workers capacity to create,produce, and respond to change

` Provide opportunities for knowledge workersto brainstorm ideas, exchange knowledge,

and devise new ways of doing business


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FactorsFactors Aff ectingAffecting KnowledgeKnowledge

WorkersWorkers ProductivityProductivity` Time constraints and work pressures

` Knowledge workers performing tasks that the

firm did not hire them to do

` Work schedule mismatch

` De-motivation against knowledge workers

productivity


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` Timeavailable

` Human motivation

` Limits to human

attentionand

concentration

` Planning and

scheduling ofwork

` Humancognitive

limits

` Dual processing

losses

` Taskdesign

` Reuse of

processes andstructures

ChallengesChallenges facedfaced byby KnowledgeKnowledgeWorkersWorkers


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Responsibilities ofSmart ManagersResponsibilities ofSmart Managers` Managing knowledge workers

` Searching out, creating, sharing, and usingknowledge regularly

` Maintaining work motivation among knowledge

workers

` Hiring or recruiting bright, knowledge-seeking

individuals

` Managing collaboration, coordination and

concurrent activities among knowledge workers


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ResponsibilitiesResponsibilities ofof KnowledgeKnowledge

WorkersWorkers--KnowledgeKnowledge WorkWork ActivitiesActivities

` Acquiring knowledge (scan, monitor, and search)

` Designing (model, plan, organize, schedule, and

author)

` Assessment

` Decision Making (formulate, analyze, and choose)

` Communication (present, persuade, and motivate)

` Monitoring

` Scheduling


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` Expansion and/or conservation of

individual and group knowledge work

resources

` Work effectiveness to increase value in

meeting needs of organization (relevant

data and effective use of knowledge,

expertise, and creativity)` Work efficiency (reduce cost in terms of

time and energy


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` Job specificand general knowledge

` Increaseknowledge baseandnetwork

` Maintainindividual expertise

` Examples: Scanning professional literature

Attending professional meetings

Learning about new technology

Learning features ofnew software Building and maintaining anetwork ofcontacts


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` Manage knowledge work to achieve effective

result using time and mental resources

efficiently

` Maintain work motivation` Maintain readiness to work

` Plan, sequence, and schedule activities

` Allocate effort and control switching among

tasks

` Manage collaboration


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` Infinite ability to expand work

` Infinite ability to increase quality and

extensiveness of work

` Ability to work hard and accomplish little ornothing

` Knowledge work productivity used-up in: Customization

Quality Expansion of scope/extent


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` Understand and adopt the organizational

culture

` Align personal / professional growth with the

corporate vision` Possess the attitude of collaboration and

sharing

` Possess innovative capacity and creative mind

` Have a clear understanding of the business inwhich they are involved

` Always willing to accommodate uncertainties


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` Uses wisdom which is the result of learning

and using knowledge for a strategic advantage

` Uses knowledge to confront situations /

problems` Help in the successful adaptation to the new

economy

` Help in foreseeing the long-term view of the

organization


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` Understand the systems in the context of their

larger whole and take effective decisions both

individual and organizational

- i n conditions of uncertainty, complexity andurgency

` Has a deeper and broader knowledge of the how

and why of things linked to each other

` Plays a key role in strategic decision making` Plays a crucial role i n i nterpersonal process

crucial to effective leadership and organization


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` Have the perfect vision and perspective-taking

capacity

` Have the capacity to anticipate reactions of

oth

ers` Have intuitive skills, transformational powers

and strategic thinking capabilities


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` Useinformationat theworkplace

` Are technical innature

` Create tangibleassets for

the firm

` Createknowledge wealthforthe organization

` Helpindecision making

andproblem solving

` Useequipments andsoftwarein making

decisions

` Are theproduct of training

andeducation

` Use wisdom to meetchallenges andrisks

` Areconceptual innature

` Createintangibleassets for

the firm

` Create goodwill forthe firm&enhancereputation

` Makeeffective strategic

decisions &createeffective

leaders

` Useinitiativeand judgmentin making decisions

` Are theproduct of vision,

farsightedness andintuitive

skills

3.knowledge and wisdom

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