Knowledge networks in professional business services firms

Professional business services companies represent a significant component of growth. Professional services are business services that are based on the application of highly specialized knowledge and expertise. As knowledge is increasingly recognized by modern professional business services companies as their most important source of lasting competitive advantage, the integration of “team-based” networks and KM is essential. This integration led to the evolution of formal and informal knowledge networks within these companies. This paper reviews the role, benefits and challenges associated with knowledge networks in professional business service firms.