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...to share these individual digital assets or tie them together into something that creates greater value for the organization and its customers.
While the best practices surrounding business and quality management have been making their mark on operational excellence for more than 50 years, not all financial institutions have participated equally in taking advantage of these techniques.
The Fathers of Financial Management
From an historical point of view, one could argue that this all began with the renowned--but frequently overlooked--Frederick Taylor, back in the early 1900s. Dr. Taylor was the father of scientific management. While his name may not come to mind when introducing the subject and principles of knowledge management, Taylor's principle of extracting common elements from processes made him one of the earliest proponents of replicable and reproducible best practices (although that term was not used frequently in the early 20th century).
Somewhat later, others such as W. Edwards Deming and Peter Drucker took applications of quality and the concept of knowledge society to new dimensions. Deming applied theories of total quality management that literally helped forge Japan into an economic superpower. And Drucker, a stock brokerage trainee when he was a young man in Frankfurt before he came to America continually challenged how American corporations and their managers built commercial empires with knowledge workers.
In rediscovering these patron saints of business management, we can pose a myriad of questions as to their cause and effect on the captains of industry and the premier financial institutions of the day:
* Did Taylor really have any effect on J.P. Morgan while they were both still alive?
* What relevance was Deming to the Merrill Lynch organization?
* What influence did...
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