Information technology tool for building knowledge assets for the small medium enterprises

In this knowledge driven global economy, knowledge itself can be seen as a commodity that offers the only ‘true sustainable competitive edge’. If knowledge is effectively managed i.e. collected, structured and disseminated, it will bring significant benefit to organisations, with potential benefits to the wider construction industry. There are a plethora of knowledge management tools and solutions on the market. However, the increasing attention of knowledge management is unsurprisingly targeted at very large multinational organisations, with little at the small medium enterprises (SMEs); and even less at construction-related organisations. With over 99% of the construction industry in the UK made up of SMEs, these organisations are in need of knowledge management just as much as large enterprises in order to stay competitive. This paper presents and discusses some of the findings from an on-going 18-months project, funded by the UK Department of Trade and Industry (DTI). The research project adopts the use of IT in assisting SMEs to build their knowledge assets through capturing their learning experiences, explicate the significant knowledge embedded in the participants’ experiences; and transform it into knowledge accessible to a wider audience. In addition, the challenges participants face in their knowledge capture process will be highlighted. The paper will also reflect on the role of information technology (IT) in knowledge capture and communication in SMEs. Conclusions and recommendations for practice and for academia are documented.