8 of 9 people found the following review helpful:
5.0 out of 5 stars
An Invaluable Guide to the Coming Knowledge Economy, September 26, 1998
By A Customer
This review is from: The Infinite Resource: Creating and Leading the Knowledge Enterprise (Jossey-Bass Business & Management) (Hardcover)
Dr. William E. Halal is a George Washington Universitybusiness school professor and expert on the Knowledge Economy. In arecent GWU conference, "Creating the New Organization," he brought together 17 representatives the public and private sectors to address how information technology has transformed their worlds, creating unprecedented challenges and opportunities. Their insights are shared directly with readers in this extraordinary and concise volume. "The Infinite Resource" refers to knowledge itself. Unlike raw materials, knowledge is inexhaustible: "the more you dispense, the more you generate," writes Dr. Halal. The marginal cost of duplicating knowledge is trivial and its value increases when shared. Halal writes: "Knowledge is the most strategic asset in enterprise, the source of all creativity, innovation, and economic value." That, in itself, is nothing new. Knowledge was no less "strategic" when mankind communicated via cave paintings. What has revolutionized knowledge over the past 15 years or so, however, has been extraordinary advances ["32 orders of magnitude"] in information technology. I can share my thoughts on this book with the world with the click of a mouse. And the world can return to my e-mailbox with critiques of my opinion. We now may draw "silicon paintings" for the enjoyment of audiences of 6 billion who never could have fit into those caves. Some bullet points serve to highlight the advances of the information technology age: + IBM itself once predicted market demand for computers to be 55. Worldwide. As of 1997, there were 1 billion computers in operation on planet earth. + In 1977, 50,000 computers existed in the entire world. In 1997, 50,000+ personal computers are sold every 10 hours. + Soon, 1 billion transistors will fit on a single chip: the entire computing power of NASA's Apollo Space Program will fit in a wristwatch.
It was, then, inevitable that the extraordinary advances in - and ubiquitous distribution of - information technology would in turn revolutionize the workplace. Dr. Halal breaks the presentations of his conferees into three sections: 1.) Creating the Internal Enterprise System; 2.) Forming a Network of Cooperative Alliances; 3.) Leveraging Knowledge with an Intelligent Infrastructure. The innumerable insights offered by Dr. Halal and his conferees would never fit in this review. Suffice it to say that the most successful organizations today long ago recognized that information technology created opportunities to broadly disseminate organizational information on the one hand and the more elusive [and hence invaluable] "tacit" or personal knowledge of their employees throughout their organizations, conferring upon all employees the ability to leverage all available organizational knowledge into innovations benefiting the organization, its employees, and its consumers. This leads the trend toward cutting-edge "mass customization." But it does not stop there. No sooner did organizations realize that they could unleash the power of knowledge internally than some recognized that the sharing of knowledge could greatly enhance relationships with customers, suppliers, and, yes, competitors which could be leveraged via coopetition - strategic alliances established to meet particular needs of individual clients at any one point in time. For decades, the rise of technology has created nightmarish visions of "1984" and HAL of "2001." Ironically, and perhaps - at first - counterintuitively, advances in information technology, by enhancing access of anyone in any organization with anyone else, anywhere, will make trust all the more important in public and private enterprises alike. Several conferees address the critical importance of disseminating all available information to employees to encourage innovation because, in fact, "the innovation cycle is now shorter than the planning cycle as customers are moving faster than companies' ability to manage." In short, if you cannot entrust your employees with your most sensitive information, you will be overtaken by another company that can. Another conferee notes: "Technology alone is inert. Trust develops and relationships crystallize in interactions over time and in moments of crisis. No trust without real relationships. No network without trust." It might, therefore, be one of the greatest ironies of the coming Knowledge Economy that technology will "re-personalize" relationships in the workplace while allowing all workers increased opportunities to make their own measurable [and thus rewardable] contributions to their organizations and alliances. Technology, as a tool, will free organizations and their employees from the more mundane business and governmental functions of measurement to engage their minds, individually and collectively, on an infinite course of creativity and innovation. Some provocative closing thoughts from this excellent book include the following insights from leaders of our continuing Knowledge Revolution: Bill Gates: "Two years is as far as long-term planning should go; anything beyond that is long-range dreaming..." General Electric: "The only way to be more competitive is to engage every mind in the organization." Ad agency Chiat Day: "Develop the ability to change faster than your competition or fail..." Dr. Halal: "The perfect company today is almost structureless. All that holds it together is its culture.
I cannot more highly recommend The Infinite Resource to all who are interested in understanding the enormous challenges, opportunities, and rewards - both personal and professional - to be realized as the Knowledge Economy reshapes our world.
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3 of 3 people found the following review helpful:
5.0 out of 5 stars
Excellent Multi-displinarian Approach, December 8, 1999
This review is from: The Infinite Resource: Creating and Leading the Knowledge Enterprise (Jossey-Bass Business & Management) (Hardcover)
There are far too many books out there that focus on 'knowledge' as if it existed in a vacuum. These tend to be one person's opinion; a single 'flavor of the month,' if you will. This collection of essays explores the impact that the free sharing of information will have: changes in management, changes in employee relations, changes in the free enterprise system itself. As an unforeseen bonus, a very few of the articles are now a bit dated (the "Information Superhighway" article by the CEO of Bell Atlantic was doomed to be old as it was penned), a fact that only reinforces the tremedous speed of change many of the essayists speak to. The many references provide one the ability to more deeply research a particular area.
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6 of 9 people found the following review helpful:
5.0 out of 5 stars
Passages from Control to Entrepreneurial Freedom., January 22, 2001
This review is from: The Infinite Resource: Creating and Leading the Knowledge Enterprise (Jossey-Bass Business & Management) (Hardcover)
William E. Halal, editor, writes, "This book brings together the views of prominent leaders in the trenches of the Information Revolution to examine the revolutionary new principles for managing knowledge. Here's a quick overview of these confusing but exciting management heresies.
Principle 1: 'Complexity Is Managed Through Freedom': Success is no longer achieved by planning and control-but through entrepreneurial freedom among people at the bottom.
Principle 2: 'Cooperation Is Economically Efficient': Economic strength does not come from power and firmness-but out of the cooperative flow of information within a corporate community.
Principle 3: 'Progress Is Guided by Knowledge and Spirit': Abundance is not the result of material riches-but of understanding the subtle workings of an infinitely complex world.
There are the new laws governing institutions today, the economic imperatives that determine who succeeds and who fails, the keys to pioneering an unexplored frontier of boundless knowledge-The Infinite Resource" (from the Introduction).
In this context, Halal organizes this invaluable collection into three parts that each focuses on the principles outlined as below:
1. Halal writes, "Part I shows that today's hierarchical structures are being replaced by an emerging foundation of management based on enterprise. The complexity of a knowledge era has made our old command-and-control systems obsolete, and so entrepreneurial freedom is now crucial, not only in economic systems but also to permit free enterprise in organizational systems." Thus, authors of this part, S.Goldsmith, R.L.Ackoff, J.P.Starr, W.Gable, and M.Lehrer mainly focus on decentralized structures, self-supporting units, entrepreneurial freedom, internal competition, and accountability to clients.
2. Halal writes, "Part II illustrates how entrepreneurial organizations must also use cooperation to form collaborative communities. Knowledge differs from physical resources because it increases when shared, making collaborative working relations productive not only in strategic alliances but between buyer and seller, employee and employer, business and goverment, and other stakeholders." Thus, authors of this part, G.H.Taylor, R.E.Miles, J.Lipnack and J.Stamps, T.Holbrooke, and R.Oklewize mainly focus on virtues of teamwork, networking among internal units, shared knowledge, spherical organization, collaborative alliances, and corporate communities.
3. Halal writes, "Part III descibes the intelligent infrastructures now being built to guide this corporate community in creating powerful forms of knowledge." Thus, authors of this part, R.W.Smith, D.Walters, M.Malone, G. and E.Pinchot, R.Kuperman, and W.A.Owens mainly focus on global information networks, free flow of information, knowledge society, employee training, virtual organizations, strategic direction, and vision.
Finally, Halal writes that "the message my colleagues and I want to stress is that the world is entering such an uncharted new frontier, an epoch so fundamentally different that the old rules no longer apply. The conventional wisdom of the past must be replaced by concepts that conform with the new realities of infinite knowledge:
* Order can be best achieved-not through control and planning-but through entrepreneurial freedom.
* Strength comes-not out of power and firmness-but through cooperative community.
* Abundance flows out of-not material riches-but a subtle frontier of boundless understanding, meaning, and spirit."
Strongly recommended.
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