Kowloon‐Canton Railway on track for knowledge : Firm learns how to recognize, share and retain intellectual assets

Purpose – This paper aims to highlights the importance of knowledge management in modern organizations. Design/methodology/approach – Presents a systematic approach to knowledge auditing at Hong Kong‐based Kowloon‐Canton Railway Corporation. Findings – Contends that many knowledge‐management schemes fail because the companies themselves lack a systematic approach to knowledge auditing. Highlights the importance of analyzing knowledge‐management needs, strengths, weaknesses, opportunities, threats and risks. Practical implications – Highlights the importance of management creating an environment to promulgate, motivate and encourage employees to collaborate and share knowledge. Originality/value – Argues that people are the most efficient carriers of knowledge where knowledge is highly tacit and difficult to codify. As a result, the organization can put effort into areas such as increasing the willingness of the employees to share information related to their job. This can be done through an incentive scheme.