Knowledge, intelectual capital and quality management As well as balanced scorecard lead to improved Competitiveness and profitability
Journal Title: International Journal for Quality Research - Year 2009, Vol 3, Issue 4
Abstract
From the contemporary change management paradigm and new, knowledge-based economy, we emphasize the impact of advanced managerial tools. As evidenced in practice, simultaneous implementation of several management approaches, concepts and methods brings about more integral corporate success. We advocate integration of up-to-date approaches - knowledge management (KM) and intelectual capital management (ICM) as well as balanced scorecard (BSC) under the “conceptional umbrella“ of quality management, i.e. quality management system (QMS) and total quality management (TQM). Interrelating elements of these management concepts through comparison of respective characteristics, defferences and similarities, connections and complementary activities, we establish relations and interdependence which result in synergy when applied concurrently. QMS implementation (in accordance with ISO 9000 standard series), en route to TQM, KM is improved, intelectual capital enlarged (via knowledge, skills, motivation, management systems, procedures, information and product flow, customer and other stakeholder relations) and application of BSC facilitated. Conversely, KM and BSC improve opportunities for attaining organisational and business excellence.All mentioned concepts can be viewed as facets of modern integral management model, in continual dynamic interaction that brings about a potential for improved competitive advantage and business performance.
Authors and Affiliations
Stevan Živojinović, Andrej Stanimirović
Keywords
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