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Meeting the challenges of the knowledge-based economy: the role of knowledge networks

Zboralski K., Gemuenden H. G.

Systems Science

2007

Vol. 33, no 2

7-13

In today's knowledge-based economy, companies face the challenge to acquire, develop, and strategically leverage knowledge. As a consequence, a growing number of organizations, especially in knowledge-intensive industries, have introduced knowledge management systems into organizations. In this context, knowledge networks such as Communities of Practice (CoPs) have recently gained a great deal of attention from practitioners and scholars alike. CoPs represent social networks based on face-to-face and virtual interactions through telecommunications and information technologies. In this article, we discuss the potential role CoPs can play by analyzing possible individual member benefits and benefits related to the organization. Our analysis shows that CoPs are a central means to foster knowledge sharing and learning in organizations.