Gerard Chick FCIPS, writes an interesting review of Supply Market Intelligence for Procurement Professionals: Research, Process, and Resources that starts out with a beautifully written first sentence: “In a business world where it seems the only certainty is uncertainty, the solitary source of lasting competitive advantage is knowledge.” He goes on to emphasize the critical importance that knowledge plays in the successful organization. “Knowledge and other forms of ‘intellectual capital’ are the ‘hidden assets’ in today’s successful organisations. They do not appear on the balance sheet or in annual reports; and yet they underpin value creation and future earnings potential. Knowledge intensive companies, garner market values way in excess of the value of their physical assets.” He states that this capability (knowledge and intelligence) has been recognized by leaders for ages and is nothing new. “Going back 2,500 years Sun Tzu attached so much value to ‘fore-knowledge’ that he wrote ‘the reason the enlightened Prince and the wise General conquer the enemy whenever they move and their achievements surpass those of ordinary men, is foreknowledge’; and in emphasising the importance of this capability it cannot be denied that ‘assessing the situation’ is one of, if not the most important aspects of leadership in business today.”
