Knowledge management and e-business initiatives - Deriving an appropriate synergy for the benefit of the construction industry

This paper discusses ongoing research which looks at the role of knowledge and knowledge management in e-business initiatives, with particular emphasis on the construction industry. Our point of discussion will be from the perspective of knowledge as an organisational asset, which has immense potential benefits if exploited using e-business via the Internet to meet the needs of an organisation. Knowledge as an asset which has the potential of being "packaged" into knowledge based products and services. Better management of knowledge assets can improve business processes, increase productivity and reduce new product development times. Many construction organisations are in the throes of embracing the Internet as a core element of their business strategy. Developments in the Internet and e-business are constantly changing. The Internet and Internet-related technology now offers many advantages for knowledge intensive organisations. For example, it reduces transaction costs, extends market reach and allows round the clock trading. This raises the question- How can knowledge-based organisations exploit the opportunities that are emerging in the fast-changing environment of e-business? Again, how can knowledge management be used to improve the performances of organisations via e-business initiatives? Consideration is also given to the challenges that are facing organisations in using the Internet to commercialise their knowledge assets, and how these challenges can be overcome. Addressing the above issues calls for a robust research methodology. The proposed methodology chosen for the ongoing research is also outlined. The anticipated outcomes of the proposed research include the production of appropriate guidance documents for the benefit of construction organisations, and the development of an appropriate, practical and user friendly `Knowledge business (k-business) Readiness Awareness Protocol. This will allow organisations to measure their position within the `Knowledge Management Maturity Curve' and their readiness to launch a k-business. The paper concludes that e-business initiatives are on the increase and some construction companies are beginning to address their potential. Effective e-business initiatives involve the consideration of technical, social and organisational issues associated with KM. There is ample scope for further empirical studies in this area.