Knowledge Management in the Pharmaceutical Industry
Knowledge Management in the Pharmaceutical Industry
Introduction
The study of Knowledge Management is a process that has been researched for centuries by western philosophers and traditional theorists, however it is only until recently that knowledge management has been the main focus for many organisations. Many have said that it was the publishing of Karl Wiig’s, “knowledge management foundations” (1993), that sparked the huge interest in knowledge management and nearly two decades on KM is now considered as an essential tool for companies to improve their performance and adaptability. [1] Not only this but the concept of knowledge has been regarded as a businesses most precious asset and highly critical in keeping a firm competitive. [2] This study will look at the knowledge management of one of the most Knowledge intensive industries in the world, the pharmaceutical industry, looking at, comparing and criticising the different strategies that are used within the industry.
The pharmaceutical industry is rapidly growing and rapidly evolving , with organisations constantly investing in their research and development departments for the development of new and valuable explicit information. In 2007 €6,525 million was spent on R+D in the UK for the pharmaceutical market, showing that firms invest large sums of money in this knowledge intensive industry. [3]
Pharmacy as an enterprise system
The Pharmaceutical Industry is sort of like a “community of practice” (CoP) where all the organisations share a common interest in medicine, working together to promote the acquisition and sharing of knowledge, with a common goal of providing the “best practice” for the public. [4]
It is clear that the industry is heavily dependent on using IT in storing and accessing information. Since the introduction web 2.0 there has been a rapid increase in the use of enterprise systems across the industry. An enterprise system allows for data to be identified, captured and
Introduction
The study of Knowledge Management is a process that has been researched for centuries by western philosophers and traditional theorists, however it is only until recently that knowledge management has been the main focus for many organisations. Many have said that it was the publishing of Karl Wiig’s, “knowledge management foundations” (1993), that sparked the huge interest in knowledge management and nearly two decades on KM is now considered as an essential tool for companies to improve their performance and adaptability. [1] Not only this but the concept of knowledge has been regarded as a businesses most precious asset and highly critical in keeping a firm competitive. [2] This study will look at the knowledge management of one of the most Knowledge intensive industries in the world, the pharmaceutical industry, looking at, comparing and criticising the different strategies that are used within the industry.
The pharmaceutical industry is rapidly growing and rapidly evolving , with organisations constantly investing in their research and development departments for the development of new and valuable explicit information. In 2007 €6,525 million was spent on R+D in the UK for the pharmaceutical market, showing that firms invest large sums of money in this knowledge intensive industry. [3]
Pharmacy as an enterprise system
The Pharmaceutical Industry is sort of like a “community of practice” (CoP) where all the organisations share a common interest in medicine, working together to promote the acquisition and sharing of knowledge, with a common goal of providing the “best practice” for the public. [4]
It is clear that the industry is heavily dependent on using IT in storing and accessing information. Since the introduction web 2.0 there has been a rapid increase in the use of enterprise systems across the industry. An enterprise system allows for data to be identified, captured and