Social networks for knowledge management in multinational real estate consultancy firms : a literature review

Abstract

Knowledge can be defined as a dynamic social construction of reality dependent upon the specific experiences made by individuals; it does not already exist in individuals but is continuously produced and revised in a social process.This paper seeks to review the role of social networks in knowledge management in the business context of Multi-National Real Estate Consultancy Firms (MNRECF) considering knowledge as a social construction. Services provided by MNRECFs depend largely on the application of knowledge and expertise. They are depended on three knowledge areas – based fundamental resources, which are their people; the client relationships; and the intellectual capital. It is the knowledge that extends beyond knowing how to do a particular job, how to deploy people to make the best use of their talents, how to make decisions that help build a strong client base, and how to guide change as markets and conditions change. In the modern economic environment, social network concepts have become increasingly interesting to many companies, since the evolution of network relationships within and between firms affect most companies. Social networks are used to examine associations and connections between individual employees, as well as how companies interact with each other; it is a key ingredient of Knowledge Management (KM) in MNRECFs. However, current knowledge is lacking in this area due to limited research undertaken. Therefore, this paper aims to explore social networks in MNRECFs based on a literature review and provide an account of relevant KM tools supporting social networks. Future research will select case studies to explore the concepts further.