Contents
Title
The Intertwining between Corporate Governance and Knowledge Management in the Time of Covid-19 – A Framework
Author
Delia DELIU
Classification JEL
G34, O31, L22, M12.
Abstract
It isn’t “Love in the Time of Cholera,” but companies will face momentous challenges and trials regarding corporate governance in the time of Coronavirus. Meanwhile, knowledge has been viewed as the most significant asset for organizations in the last decade, this also being reinforced by the knowledge-based view of the company which looks at intangible resources of a company (such as intellectual capital) as the source of high competitive advantage. This paper’s objective is to develop an understanding of how responsiveness in an organizational structure may be approached from a combined corporate governance (CG) and knowledge management (KM) view in a context characterized by uncertainty, volatility, precariousness, panic and disorientation. Based on a synthetic review of earlier research and empirical data, this study suggests that managers nowadays have in general a limited understanding of the current developments in the CG – KM interfaces. This knowledge gap has important implications for as regards what should be researched in the area and how, as well as for the usefulness of knowledge, one wants to hold out to. The paper aims to explore how knowledge management governance (KMG) can conduct to positive delivery of KM strategic benefits and the critical issues relating to it. Through the proposed framework, the research argues whether KMG plays a critical role in providing a balance between human resource, processes, and use of technology in KM strategy, KMG being defined as an executive framework which comprises authority, strategy development, organizational culture, risk management, as well as assessment and measurement in regards to KM organization. Therefore, the purpose of this study is to critically evaluate the status of the interdependence relationship between CG and KM in the proposed framework. The paper also explores the CG and KMG perspectives relating to the new Coronavirus socio-economic crisis, identifying CoVid-19 as a systemic risk, providing a CG lens, to focus on Board leadership and effectiveness. The study reveals some recommendations in order for the Boards to optimise the level of appropriateness and adequacy of the governance mechanisms so as to sustain the realization of KM objectives.
Keywords
Coronavirus, CoVid-19 pandemic, corporate governance, knowledge management, knowledge management governance.
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