The main elements and factors of the development of the concept of knowledge management in the context of business consulting

Milan Resimić; Marija Stojiljković; Jelena Raičević

doi:10.5937/bizinfo230283R

Authors

Milan Resimić University of Belgrade, Faculty of Organizational Sciences, Belgrade, Serbia
Marija Stojiljković Toplica Academy of Applied Studies, Department of Business School Blace, Serbia
Jelena Raičević Toplica Academy of Applied Studies, Department of Business School Blace, Serbia

DOI:

https://doi.org/10.5937/bizinfo230283R

Keywords:

management, knowledge, consulting, learning, strategy

Abstract

The modern economy has imposed challenges that require ongoing knowledge management. This is of particular importance in the consulting sector, which must have advanced knowledge and be able to transfer it to clients. However, this topic is still insufficiently researched, especially in Serbia, which is why this research aimed to provide a theoretical insight into this topic supported by a statistical analysis of the results obtained from a survey of Serbian consultants. The results showed that the consulting sector in Serbia is still developing, but consultants are aware that today knowledge is the main capital, and knowledge management is one of the primary conditions for achieving a competitive advantage. The research also showed that the relationship between knowledge management and consulting is a complex topic that opens up space for numerous and diverse research.

Downloads

Download data is not yet available.

References

Alavi, M., & Tiwana, A. (2002). Knowledge integration in virtual teams: The potential role of KMS. Journal of the American Society for Information Science and Technology, 53(12), 1029-1037. https://doi.org/10.1002/asi.10107

Ambos, T.C., & Schlegelmilch, B. B. (2009). Managing knowledge in international consulting firms. Journal of Knowledge Management, 13(6), 491–508. https://doi.org/10.1108/13673270910997141

APO (2022). Knowledge Management Tools and Techniques Manual. The Asian Productivity Organization (APO). https://www.apo-tokyo.org/wp-content/uploads/2020/02/KM-Tools-and-Texhniques-Manual.pdf

Armbrüster, T. (2006). Management consultancy viewed from economic and sociological perspectives. In The Economics and Sociology of Management Consulting (pp. 1-38). Cambridge University Press. https://doi.org/10.1017/CBO 9780511488467.002

Asheim, B. T., & Coenen, L. (2005). Knowledge bases and regional innovation systems: Comparing Nordic clusters. Research Policy, 34(8), 1173-1190. https://doi.org/10.1016/j.respol.2005.03.013

Beriwala, P., & Singla, N. (2022). Knowledge Management in Digital Era – A Case Review of Large Consulting Firms. IBMRD's Journal of Management & Research, 11(1), 49-56. https://doi.org/10.17697/ibmrd/2022/v11i1/170317

Bock, G. W., Zmud, R. W., Kim, Y. G., & Lee, J. N. (2005). Behavioral intention formation in knowledge sharing: Examining the roles of extrinsic motivators, social-psychological forces, and organizational climate. MIS Quarterly, 29(1), 87-111. https://doi.org/10.2307/25148669

Cerruti, C., Tavoletti, E., & Grieco, C. (2019). Management consulting: A review of fifty years of scholarly research. Management Research Review, 42(8), 902-925. https://doi.org/10.1108/MRR-03-2018-0100

Chen, X. M. (2011, September). Research on knowledge sharing model of engineering consulting businesses. In 2011 IEEE 18th International Conference on Industrial Engineering and Engineering Management (pp. 339-342). IEEE. https://doi.org/%2010.1109/ICIEEM.2011.603517

Chilton, M. A., & Bloodgood, J. M. (2008). The dimensions of tacit & explicit knowledge: A description and measure. International Journal of Knowledge Management, 4(2), 75-91. https://doi.org/10.4018/jkm.2008040106

CMC Global (2021). The National Consulting Index Global Report. International Council of Management Consulting Institutes (CMC-Global). https://www.cmc-global.org/sites/default/files/public/nci-gr-2020.pdf

Davenport, T. H. & Prusak, L. (1998). Working Knowledge: How Organizations Manage What They Know. Harvard Business School Press.

Dixon, N. M. (2000). Common knowledge: How companies thrive by sharing what they know. Harvard Business School Press.

Dunford, R. (2000). Key challenges in the search for the effective management of knowledge in management consulting firms. Journal of Knowledge Management, 4(4), 295-302. https://doi.org/10.1108/13673270010379849

Đorđević-Boljanović, J. (2009). Knowledge management. Data status, Belgrade.

Đurić, Z., Đurić, O., & Nedeljković, A. (2014). Knowledge, knowledge management and management change as factors of success and development. Journal of Economics and Market Communications, 4(1), 82-93. .https://doi.org/10.7251/EMC1401082DJ

Dželetović, D., Mašić, B. M., Nikolić, D. M., & Nešić, S. B. (2016). Knowledge management and organizational competitiveness. Business Economics, 10(2), 118-139. https://doi.org/10.5937/poseko12-12266

Džunić, M., Đorđević Boljanović, J., & Subotić, J. (2012). The importance of concepts of knowledge management and learning organization in managing the knowledge-flow in organizations. In Management, knowledge and learning international conference (Vol. 5, January). https://ideas.repec.org/h/isv/mklp12/301-311.html

FEACO (2022). Survey of the European Management Consultancy Market 2020/2021. European Federation of Management Consultancies Associations (FEACO). https://www.feaco.org/consulting-in-europe/annual-survey/

Fincham, R., & Clark, T. (2002). Management consultancy: Issues, perspectives, and agendas. International Studies of Management and Organization, 32(4), 3–18. http://www.jstor.org/stable/40397546

Furusten, S. (2009). Management Consultants as Improvising Agents of Stability. Scandinavian Journal of Management, 25(3), 264-274. https://doi.org/10.1016/j.scaman.2009.05.009

Giroux, H., & Taylor, J. R. (2002). The justification of knowledge: Tracking the translations of quality. Management Learning, 33(4), 497-517. https://doi.org/10.1177/1350507602334006

Glückler, J., & Armbrüster, T. (2003). Bridging uncertainty in management consulting: The mechanisms of trust and networked reputation. Organization Studies, 24(2), 269–297. https://doi.org/10.1177/0170840603024002346

Kipping, M., & Kirkpatrick, I. (2013). Alternative pathways of change in professional services firms: The case of management consulting. Journal of Management Studies, 50(5), 777-807. https://doi.org/10.1111/joms.12004

Krivokapić, J., & Čudanov, M. (2016). Analysis of current trends and attitudes about consulting in organizations operating in Serbia. Bizinfo (Blace), 7(1), 3-24. https://doi.org/10.5937/bizinfo1601013K

Lilja, K., & Poulfelt, F. (2001). The anatomy of network building in management consulting firms. The Finnish Journal of Business Economics, (1), 98-115.

MCA (2023). The MCA's 2022 Annual Industry Report. The UK Management Consultancies Association (MCA). https://www.mca.org.uk/reports/mca-annual-report

Mašić, B., & Đorđević Boljanović, J. (2008). Leadership and knowledge management in the function of creating a competitive advantage. Lider-Director, 7(II), 35-44.

Mihailović, B. (2008). Analysis of the consulting support program for companies in Serbia. Economics, 54(3-4), 176-188. http://dx.doi.org/10.22004/ag.econ.288870

Mihailović, B., Radosavljević, K., & Popović, V. (2021). Development factors of management consulting in Serbia. Business Economics, 69(7-8), 414-421. https://doi.org/10.5937/EKOPRE2108414M

Mihailović, B., Simonović, Z., & Sarić, R. (2016). The nature and characteristics of management consulting in Serbia. Economics, 62(4), 55-64. https://doi.org/10.5937/ekonomika1604055M

Mihajlović, M., & Dašić, M. (2014). Knowledge management as a factor in increasing the efficiency of the organization. Auditor - Journal of Management, Law and Finance, 9 (2014), 33-36.

Mordor Intelligence (2023). Europe Management Consulting Services Market - Growth, Trends, Covid-19 Impact, and Forecasts 2023-2028. Mordor Intelligence. https://www.mordorintelligence.com/industry-reports/europe-management-consulting-services-market

Mosonyi, S., Empson, L., & Gond, JP (2020). Management consulting: Towards an integrative framework of knowledge, identity, and power. International Journal of Management Reviews, 22(2), 120-149. https://doi.org/10.1111/ijmr.12218

NARR (2011). State, needs and problems of entrepreneurs in Serbia - Report on survey research on small and medium-sized enterprises and entrepreneurs in Serbia in 2011. Belgrade, Republic of Serbia, National Agency for Regional Development (NARR).

Nonaka, I. (2007). The knowledge-creating company. Harvard Business Review, 85(7/8), 162-171.

Nonaka, I., Toyama, R., & Nagata, A. (2000). A firm as a knowledge-creating entity: A new perspective on the theory of the firm. Industrial and Corporate Change, 9(1), 1-20. https://doi.org/10.1093/icc/9.1.1

Predic, B., Stefanović, S. & Dukic, D. (2011). The role of management consulting in the development of small business. Economic Themes, 49(2), 219-233. ISSN: 0353-8648

Resimić, M. (2020). Introduction to Orthodox leadership-vertical. Apostol Center of Orthodox Leadership, Belgrade.

Ristic, K. & Ristić, Ž. (2012). Knowledge management, Business studies. Journal of Business Theory and Practice, 4(7-8), 127-140.

Schwartz, D. G, Divitini, M., & Brasethvik, T. (2000). On knowledge management in the Internet age. In D. Schwartz, T. Brasethvik, & M. Divitini (Eds.). Internet-based organizational memory and knowledge management (pp. 1-19). IGI Global. https://doi.org/10.4018/978-1-878289-82-7.ch001

Senge, P. (2003). The learning organization - The success and practice of the learning organization, Adižes, Belgrade.

Stover, M. (2004). Making tacit knowledge explicit: The ready reference database as codified. Reference Services Review, 32(2), 164-173. https://doi.org/10.1108/00907320410537685

Sturdy, A. (2011). Consultancy's consequences? A critical assessment of management consultancy's impact on management. British Journal of Management, 22(3), 517-530. https://doi.org/10.1111/j.1467-8551.2011.00750.x

Tešić, B., Marković, M., Plećić, K., & Pantelić, I. (2013). Knowledge management and information technology. V Scientific conference USPON (pp. 198-205), Valjevo Faculty of Business, Singidunum University.

UPKS (2010). Brief overview of business consulting in Serbia, Association of Business Consultants of Serbia (UPKS). http://upks.org.rs/wp-content/uploads/2019/06/pregled-poslovnog-konsaltinga-u-srbiji-izvestaj.pdf

Werr, A., & Stjernberg, T. (2003). Exploring management consulting firms as knowledge systems. Organization Studies, 24(6), 881-908. https://doi.org/10.1177/0170840603024006004

Wong, KY, & Aspinwall, E. (2005). An empirical study of the important factors for knowledge management adoption in the SME sector. Journal of Knowledge Management, 9(3), 64-82. https://doi.org/10.1108/13673270510602773