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  • Finance Information Management Marketing Technology

    Economics Education

    7th International Conference An Enterprise Odyssey:

    Leadership, Innovation and Development for Responsible Economy

    Faculty of Economics and Business University of Zagreb

    MANAGEMENT

    Full papers presented at the Session 5: Management

    No. Authors Paper title Pages Contribution and role of

    50. Aleksic, A organizational capabilities in 825-841 growth and performance of

    croatian companies Enterprise strategies for

    51. Balaton, K. successful growth after the last 842-856 financial and economic crisis

    Becic, E., Laho\ll1ik, M., Key determ inants of the 52.

    Windsperger, J. franchising model: an empirical 857-873

    study

    Buntak, K., DroZdek, I., Baksa, Knowledge as a resource and

    53. V. review of knowledge 874-889

    management concepts

    Dimovski, V., Grah, B., Uhan, Advanced approaches to 54.

    M., Peterlin, J. leadership: leading towards 890-906

    sustainabilitv

    D~owska, J., D~owski, Relations between planning

    55. T. systems and employee reward 907-925

    schemes in polish enterprises

    D~owski, T., D~owska, Organization of management

    56. control in public institutions in 926-946J. Poland

    Beyond human-computer

    57. Ferincz, A, Hortovfmyi, L. collaboration: supporting and 947-967 hindering factors of on-the-job

    learning Determ ining the framework of

    58. Franic, S. antecedents of decision-making 968-978 processes of business anaels

    Holatova, D., Bfezinova, M., Management of human

    Tourism

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  • 59. Rehor, P., Dolezalova, V. resources in SMEs 979-988

    60. Ivancic, V., Zic, M., Jelenc, L. CSR management profiles- the 989-1001 gap between thinking and doing

    Developing organization through

    61. KlindZic, M., Galetic, L. strategic alliances - cross-

    1002-1021 sectional analysis of alliance

    characteristics in Croatia

    The role of intellectual capital in

    62. Kuvacic, D., Papic, M. competitiveness of small

    1022-1034 entrepreneurship in the

    hospitality industry

    Influence of the international

    63. Ljubica, J., Dulcic, i.. exposure to the expatriate intent 1035-1045 among bussines students in

    Croatia

    64. Maryniak,A Corporate social responsibility

    1046-1060 in a supply chain

    65. Nacinovic Braje, I., Galetic, L. Corruption and corporate

    1061-1077 culture: exploring the connection

    Reasons for failure of change

    66. PerkoY, D., PerkoY, M., Papic, implementation and causes of

    1078-1097 M. resistance to organizational

    changes in croatian enterprises

    Corporate governance and

    67. Segreto, L., Popowska, M. ownership structure in the top 1098-1114 30-listed non financial companies in Poland

    Rehor, P., Brezinova, M., Instruments of quality

    68. Holfltova, D., Dolezalova, V.

    management in the czech 1115-1121 municipalities

    Coordination modalities as 69. Rupcic, N., Jakopic, M. vehicles for successful learning 1122-1133

    supply chain partnerships

    Integrated management system 70. Spaho, K. of quality as a framework for 1134-1148

    corporate social responsibility

    Disparities between the

    71. Van Niekerk, C., Cant, M., personal and business moral

    1149-1156 Wiid,J. values of south african

    entrepreneurs

    Theoretical analysis of 72. Vizjak, A, Vizjak, M. integration processes in the 1157-1169

    world and Europe

    73. Witek-Hajduk, M. K. Objectives of CSR strategy- the

    1170-1180 example of polish companies

    New model of elementary 74. Zovko, V., Maric, I. school organization in Croatia - 1181-1194

    financial aspects

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  • 874

    KNOWLEDGE AS A RESOURCE AND REVIEW OF

    KNOWLEDGE MANAGEMENT CONCEPTS

    Krešimir BUNTAK

    University North

    Ivana DROŽĐEK

    University North

    Velimir BAKSA

    Iskon internet

    Abstract

    Every organization has a system in which knowledge is stored and which can be managed

    more or less successful. The purpose of this paper is to point out knowledge as a resource

    alongside with the review of known concepts of knowledge management which significantly

    facilitate and accelerate the process of existing business processes, and emphasize the

    importance of resources – most of all the "knowledge stored in the enterprise", as the main

    factor of strategic competitive advantage of an enterprise (organization). Such an approach

    takes internal competitive advantages as a basis of successful growth of the company. They

    are to be regarded as the potential that can be used and developed. The result of this

    approach is distinctive knowledge in terms of the perception of intellectual capital in which

    an important role is given to human resources with the fundamental characteristic of the

    possibility of using knowledge in business operations. Based on an overview of the concepts

    of knowledge management it is concluded that modern industry rests on the foundations of

    knowledge exchange and collaboration among its employees in order to remain competitive

    in the increasingly challenging market environment.

    Keywords: knowledge, resources, knowledge management, intellectual capital, business

    processes

  • 875

    1. Introduction

    Knowledge is indisputably important, if not the most important part of the business.

    Nowadays of modern economy, organization's growth is based on knowledge and knowledge

    production. The concept of the "new economy" binds with the knowledge as well. The “new

    economy” is based on ideas and knowledge, while knowledge as part of the total capital of the

    company, especially intellectual capital, also becomes the most important economic resource

    for achieving competitive advantage. The term intellectual capital refers to the creative use of

    knowledge in production and in any other creative activity, as well as refers to the ability

    where knowledge, considered as invisible asset, is converted into products and services which

    bring value. The interdependence and the importance of resources, and management processes

    of the same, puts the spotlight on the importance of these two components for the normal

    functioning of the entire business system. Therefore, it can be claimed that resources are

    necessary for quality business. Modern industry rests on a foundation of knowledge exchange

    and collaboration between its employees in order to remain competitive in the increasingly

    challenging market environment. The aim of this paper is to analyze the characteristics,

    significance and importance of the term resource/knowledge and to determine the impact and

    the need for attributing importance to resource management/knowledge through quality of

    business management. This paper researches and provides a comparative overview of

    concepts of knowledge management in organizational structures where knowledge

    management can be a carrier of trust, mutual respect and progress.

    Importance and role of knowledge as a resource in organization

    The essence of the term "resource" is its necessity, and that companies could perform their

    tasks and achieve its set objectives they must adapt certain resources. In terms of the use of

    certain resources, it is important to define which aspects and areas are they defined from and

    observed. Some authors made the following classification of resources (Buble, 2005, p.57):

    tangible assets (physical and financial assets that the company uses to ensure value for its

    customers, such as facility, equipment, real estate, etc.), intangible assets (this part is

    considered to refer mainly to human and information resources or knowledge), organizational

    skills (ability to combine the assets, people and processes that a company is using in

    transforming inputs into outputs). The classical division of resources would be however on

    physical, human, information and financial resources (table 1).

  • 876

    Table 1: The classification of resources

    COMPANY RESOURCES

    PHYSICAL

    RESOURCES

    HUMAN

    RESOURCES

    INFORMATION

    RESOURCES

    FINANCIAL

    RESOURCES

    Facility (eg

    buildings, office

    premises), equipment

    (eg computer

    equipment), real

    estate

    Knowledge, abilities,

    skills, competencies

    data, information,

    knowledge base

    money, purchasing

    power, net assets

    Source: original copyright

    Human resources, often considered as intellectual capital, or knowledge, is one of the most

    important resources of today, since knowledge, competencies, and skills of people are

    nowadays a source of competitive advantag