Knowledge is the most strategically significant resource of a firm. Knowledge-based resources are usually difficult to imitate and socially complex, therefore usage of effective knowledge management in business is the major determinant of sustained competitive advantage and superior corporate performance.
My guess is that you have heard or read that statement many times. Although certainly true, I would submit that knowledge gained is worthwhile only when it proves to be of value and is put to good use.
It is wonderful to know a multitude of facts. However, unless they are translated into useful performance, the knowledge is not beneficial. Raw knowledge simply awaits the opportunity to be put to good application, but can be totally without value or function unless and until that occurs.
There are philosophical reasons and ideas discussed by Descartes and Kant that shows part of our knowledge is innate, and not all comes from experience. David Hume was an empiricist. His works and ideas show that only things we can perceive become knowledge. He believes that knowledge is formed from experience and he emphasizes the impressions of cause and effect.
One’s knowledge of various theoretical approaches will serve no purpose if they do not work, or will not work well for you. Theory is an abstract concept without foundation in the practical world. In order for theory to become a useful component of the success of an individual, it must be workable and be put to use.
Knowledge must be acquired and shared as a collective effort. Lack of knowledge leads to poverty and the absence of economic prosperity. Knowledge should be utilized for the upliftment of the poor masses. It should be used for peace, prosperity, and growth.
Information and knowledge apply to you and your endeavors to make more money in your Business and therefore becomes valuable only when you use it profitably.