The case for turning professional expertise into lasting company assets
An essay argues that law firms, consultancies and accounting practices can build compounding systems of institutional knowledge instead of relying mainly on the expertise of their people.
TLDR
The essay contrasts durable assets such as software code and manufacturing plants with professional services firms’ reliance on people’s skills, judgment and relationships. It describes institutional knowledge historically passing through apprenticeship, with senior colleagues teaching and correcting juniors. In a post sharing the essay, the author predicts that firms building “compounding engines of institutional knowledge” will become “massively more valuable” than those that don’t.
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