An investment in knowledge pays the best interest.
(BENJAMIN FRANKLIN, POOR RICHARD’S ALMANAC)
When you have completed this chapter, you should be able to:
- distinguish between data, information, knowledge and wisdom;
- distinguish between intellectual capital, human capital, relational capital and structural capital;
- understand the historical perspective of labour, knowledge and intellectual capital;
- understand and explain tacit and explicit knowledge;
- understand the relationship between knowledge management and human resource development.
In the economic world of the 21st century there is little doubt that intellectual capital (human capital, such as people; structural capital, ...