The concept is the theme of the IPC 2007: APO International Productivity Conference 2007 being held at Sofitel Central Plaza Hotel in Bangkok yesterday and today. It has been organised by Thailand Productivity Institute in conjunction with the Asian Productivity Organisation.

Professor Ikujiro Nonaka of Japan's Hitotsubashi University told the conference that knowledge helped companies to increase returns.

People with knowledge should have belief in what they want to do, otherwise it would just be information. Also, their beliefs must be true and the truthfulness must be justified.

He suggested companies apply the "Seci" model, which encourages organisations to create an environment of sharing knowledge, both explicit and tacit, from high-ranking executives to officers at the operational level.

All the knowledge can be gained through various conversations - not necessarily in formal meetings. Easy conversations in relaxed places can allow employees to share and acquire knowledge.Those conversations could sometimes contain intangible knowledge, which turns out to be useful for the development of the company. The knowledge should then be documented and passed through management to spread it to everybody at all levels.

After everyone gains the knowledge, companies must then seek to maximise their performance for themselves and related parties such as shareholders.

The companies should continue the Seci model from the first step to the last step again and again to continue gaining new knowledge.

To know how to maximise the benefits of everyone gaining knowledge, the companies should have a clear vision, said Nonaka.

Meanwhile, instead of concentrating on maximising profit, the companies should realise what really make them valuable. Maximising profit is not the only thing that differentiates them from others. They must have clear vision and use knowledge to turn the vision into reality.

Nitida Asawanipont

The Nation