Business concepts ontology for an enterprise performance and competences monitoring

While the financial indicators and reporting tools are the core instruments used for enterprise survival, the instruments for intellectual capital monitoring assist in defining the enterprise competitive advantages and strategic planning. Given the current market situation and global competition, an emerging crucial issue for the management team of a modem enterprise is to keep track of non-financial and non-physical resources demanded for successful realization of the business processes. Possible solution might be a corporate memory, which guides the enterprise in its intellectual capital acquisition, measurement, monitoring and management. The subject of this article is an ontology as a tool for knowledge representation within the corporate memory. The prototype of the corporate memory is in the testing stage. The test bed is a small chocolate factory. (C) 2006 Elsevier B.V. All rights reserved.