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For Uncommon Leaders.... Raising Standards, Driving Change, and Creating New American Hospitals |
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Intellectual Capital Could your organization use $5-10 million in tangible ROI over the next 12 months? Experience has shown that health care organizations can substantially increase their yield on intellectual capital in hard dollars in the first year of organization renewal. Human capital is the generator of financial capital. An organization's wealth is derived from the richness of its human thinking and spirit. New approaches to human management dramatically improves financial peformance. The two primary reasons why our client organizations have been so successful is that they make a major bet on the brains in their organizations, first, by training the leadership cadre intensively in how to manage more effectively, and second, by engaging the entire workforce in solving operating problems and installing best practices housewide. Human capital is defined in part as the set of skills which an employee acquires on the job, through training and experience, and which increase that employee's value in the marketplace. But its much more than that. Increasingly management is coming to recognize that any organization's primary competitive weapon is its people. An explosion of interest in this arena immediately introduces us to phrases such as intellectual capital, knowledge management, structural capital and the like. What do these terms mean, and how can manage begin to use processes that will benefit the business?Intellectual Capital is one of the hottest topics talked about in today's Knowledge Management field. In fact, FastCompany magazine proclaims it one of management's fastest growing trends. But just what does Knowledge Management mean? How can your organization capitalize on what your employees already know? And how can you increase what they know, and how can individuals and teams leverage and increase that asset?
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