Intellectual capital represents roughly eighty per cent of your organization’s total value. It's the wealth inherent in your corporate memory, your institutional knowledge. It’s what keeps your organization alive.
The only way your organization can live and grow is by growing your intellectual capital. Lose it or allow it to stagnate, and your entire enterprise suffers as you'll no longer be able to keep up with the rapid changes and increasing complexity of your market.
Based on our research and experience in working with knowledge-intensive organizations for over two decades, we've identified the following seven warning signs of corporate “memory loss:”
Inability to achieve performance goals, caused in part by reductions in budget and staff, and conflicting priorities
Too many missed deadlines and lost opportunities from having only one “go-to” person in a critical area
Too much time, money and resources wasted from repeating mistakes and “re-inventing the wheel”
An aging workforce and/or large numbers of pending departures or retirements
Risk of serious consequences from sudden, unexpected loss of critical knowledge
Strong cultural resistance to knowledge sharing
No systematic, repeatable process for capturing, sharing and applying lessons learned and best practices.
If your organization exhibits one or more of these symptoms, you're already aware of the major drain they place on your ability to compete. If not corrected, they will only continue to impede your success.