GMS 200 Lecture Notes - Lecture 2: Intellectual Capital

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: lorianneheckbert

Document Summary

Knowledge and knowledge workers provide a decisive comp. factor in todays economy. Knowledge management = the process of using intellectual capital for competitive advantage. Knowledge workers = someone whose mind is a critical asset to employees. Information - data made useful for decision making. Characteristics of useful info: timely high quality complete relevant understandable. I. t. is hugely important to the success of an organization. Implications of it with organizations: facilitation of communication and information sharing operating with fewer middle managers. Attening of organizational structures faster decision making increased coordination and control. For example, walmart has a very advanced computing system, which forwards its product orders directly to the supplier. Therefore it is a symbiotic relationship between walmart and its suppliers. Its almost as if there is no di erence between supplier and retailer because of how advanced. This i. t. that walmart has has helped greatly in their functions.