Custom «Article-Summary» Essay Paper Sample
The article argues about the gross domestic product of the developing world today as compared to the yester years. According to the author of this article, the GDP has moved from being dependent on material goods to being dependent on knowledge. Apparently, knowledge management is now the real thing to investing. In fact, this article indicates that the human resource and human capital has become a core competence and central in business. There is no better business that will not have knowledge in it. This can be confirmed by the fact that even the American export has reduced in bulk and knowledge is now the commodity that is steering the economy of the United States. In fact, the dollar strength is now fully dependent on knowledge according to this article.
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The author of this article has incorporated several remarks from different organizations to show how knowledge management is fast becoming an integral part in business. In fact, it indicates that for the success of commerce, knowledge management is an important ingredient. According to the author, companies are fast becoming acquitted with this fact. PricewaterhouseCoopers gives a report on the same which indicates that more than three quarters of the greatest companies are working in close ties with knowledge management in order to exhaust and exploit the benefits of knowledge.
Executives are shown to argue about the benefits of knowledge for productivity. As a matter of fact, most of them state that since knowledge is among individuals, there should be a mechanism to enable individuals to come together and share their knowledge in productive activities. Unfortunately, this too has its shortcomings. There is an indication that organizations fail to align their incentives in establishing a corporate value for knowledge sharing and this prevents utilization of these knowledge. Additionally, even when an organization has a good way of making a knowledge sharing, it all depends on the people. these are the two main shortcomings of knowledge sharing as indicated by the article.