... result, the human resource department must be made a central figure in an organization's strategy to establish a knowledge basis for its operations. Increasingly, as the nature of business and organizations change, its' leaders are recognizing that their most valuable assets are their skilled employees and, more significantly, the knowledge, both tacit and explicit, possessed by these employees. The oft-stated cliché that "knowledge is power" has never been truer than in today's corporate world. This power is such that "the value of most products and services now depends on knowledge based intangibles such as technical know-how, product design, marketing presentation, understanding customers, personal creativity and innovation"(Soliman & Spooner 2000, p. 337). Indeed, the power of knowledge being properly leveraged within an organization can be shown to be more than two times as beneficial as an increase in equipment. On average, an increase in employee education by 10 percent leads to ...

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