Creation of knowledge marketplace in Infosys - a prescriptive plan at practice-unit level and corporate level for Infosys:Infosys

Abstract

Formal Knowledge Management Structures for capturing and managing knowledge as a strategic asset have become increasingly prevalent. Boundaryless organizations have come to realize that true knowledge networking involves the conscious creation of a "Knowledge Marketplace" within and beyond the organization, with the market disciplines and incentives needed to maximize the production and application of valued knowledge. In this increasingly knowledge-intensive world, where the half-life of ideas and experience is decreasing and the geographic applicability of knowledge is increasing, the systematic acquisition, synthesis, and sharing of insight and experience is critical to the success of almost all organizations. The role of the top executive becomes that of a Knowledge Capitalist who creates a market that evaluates, recognizes, rewards-and thus shapes-the knowledge assets. One of the central premises of knowledge management is that the give and take of sharing do not necessarily coexist. Giving may precede taking or vice-versa. People give with the tacit understanding that someday they will be able to take; they take with an implicit acknowledgement that at a later date they will be obliged to give back. In their book Working Knowledge, Davenport and Prusak refer to knowledge markets as those based on credit rather than cash, precisely because of the delayed gratification of contributors. Allowing employees to assist other individuals, groups or the organization as a whole is a way to build up equity for future assistance.