We all know people who, although highly knowledgeable, lack influence. They can be found at dinner parties trying to impress fellow guests with their grasp of the financial markets or their insights into the secrets to happiness.
Paradoxically, away from the dinner table they appear to be miserable and poor.
The point I am making is that knowledge is not enough. It needs to be applied intelligently to extract the associated value. This applied knowledge is sometimes referred to as wisdom.
The business world is reawakening to the concept of knowledge management. Not one for letting a bandwagon pass without incident, I propose we call this KM 2.0.
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