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Stock and Flow in Knowledge Management
The term knowledge management can be defined as the process in which value from their knowledge based assets are generated by the organization. Generating value from such assets involves the knowledge documentation of employees, partners and customers; and then sharing those ideas with the employees, departments and also with that of some other companies to formulate the best practice out of it. So let us have a look at stock and flow in knowledge management.
About stock and flowIn a share market, stock is a familiar term in management as it is quite often used in the same. Therefore by the term stock we can brief it by saying that it is something which is in hand and can be used to its best at the necessary point of time. Flow is a term which ensures that the available stock is transferred from a point to the other in an appropriate manner so as to create a healthy knowledge management system.When dealing with knowledge management the concepts of stock and flow are often used. The stock of knowledge represents the level of knowledge of an employee or can even be of the organization as a whole. The flow of knowledge in knowledge management indicates the amount of knowledge which is transferred between people so as to devise sound organizing activities. The concept of stock and flow helps us to give an insight on the matters of knowledge management. This is because of the fact that they are already common to us as they are used in some of the other areas, and we have also learned them at school. When you go for stock market, it is better if you go for share tips.
Role of stock and flowStock and flow play a vital role in the functional development of an organization. An organizations development depends up-on the employees and the management. The stock of knowledge is saved on human which is the source of knowledge. Through our lives, we have collected much information and built up some knowledge which is stocked in theIndian stock market. These stocks are not useful for an organization till it is implemented. The employees need to put their ideas (stock) and let it pass (flow) to that of the management, and the management then study it and will go for a sound knowledge management. There can be someone in the team who is capable of fulfilling certain job but is reluctant to do it then there is no use of this stock of knowledge. Therefore in parallel with business an organization would be able to grow and develop only then when there is an increase in the productivity. And productivity can be increased with an increase in the flow of knowledge so that the stock of knowledge remains the same and there is no hiring of extra employees or some external consultants.
To show the concept of stock and flow in knowledge management we can go through the following example: To analyze the economic system the stock and flow concept can be implemented. In economics the flow of money is the velocity of money which can also be said as the circulation process. Thus the quantity theory of money states that this velocity of money can be defined as the ratio of net national product in current prices to the money stock.The flow of current through electric circuit which is tempered by a certain resistance is all about basic electronics. For certain amplitude of current the given resistance in the network needs provisioning power i.e. the voltage. The current absorbed by the resistor need more power. Thus the flow (current) and the resistance (stock) operate in a reciprocal proportional way.
So, you have come to know about stock and flow in knowledge management.