Constructing internal knowledge markets: Considerations from mini cases

Knowledge management mechanisms in organizations are widespread and range from those that are highly technology focused to those with a more social flavor. However, not much attention has been given in the literature to economic based approaches. In this article we explore the notion of devising internal knowledge markets. We assert that the internal knowledge market is an ideal platform that integrates technological and social aspects of the knowledge management problem. We draw on lessons learnt from mini-cases conducted at several organizations and the current economic literature to inform our discussion. We outline several issues one needs to bear in mind while devising the internal knowledge market. With the exception of a few peculiarities, the internal knowledge market is subject to many of the same caveats one faces while building traditional physical or electronic markets (Kambil and van Heck, 2002; Shaprio and Varian, 1999, Malone et al., 1987; Economides, 1996). The internal knowledge market is to the 21st century organizational knowledge management what the campfire was to the pre-historic storytellers: a place for all organizational and cultural knowledge to be preserved and promulgated.