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Knowledge Management in Professional Service Firms

Knowledge Management in Professional Service Firms

Dieter Fink, Georg Disterer
Copyright: © 2006 |Pages: 8
ISBN13: 9781591405733|ISBN10: 1591405734|EISBN13: 9781591405740
DOI: 10.4018/978-1-59140-573-3.ch050
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MLA

Fink, Dieter, and Georg Disterer. "Knowledge Management in Professional Service Firms." Encyclopedia of Knowledge Management, edited by David Schwartz, IGI Global, 2006, pp. 381-388. https://doi.org/10.4018/978-1-59140-573-3.ch050

APA

Fink, D. & Disterer, G. (2006). Knowledge Management in Professional Service Firms. In D. Schwartz (Ed.), Encyclopedia of Knowledge Management (pp. 381-388). IGI Global. https://doi.org/10.4018/978-1-59140-573-3.ch050

Chicago

Fink, Dieter, and Georg Disterer. "Knowledge Management in Professional Service Firms." In Encyclopedia of Knowledge Management, edited by David Schwartz, 381-388. Hershey, PA: IGI Global, 2006. https://doi.org/10.4018/978-1-59140-573-3.ch050

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Abstract

For professional service firms, such as consultants, accountants, lawyers, architects, and engineers, knowledge is a capacity to act. Knowledge can be used to take action and to serve the client. As market pressures increase, so does the demand for securing and exploiting knowledge for the firm. In addition, a shortage of high-potential professional service providers has increased the ‘war for talent’ in which firms compete in employing the most talented professionals. These situations are exacerbated by the decrease in lifelong loyalty, a traditional value within professional groups, and the departure and retirement of professionals, often the most experienced ones.

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