Corporate amnesia in the micro business environment

Corporate amnesia is a phenomenon that has persistently threatened the livelihood of business organizations and their success in commercial activity. Several substantial studies on this observable fact have been undertaken with focus primarily aimed at the large corporations and the small to medium sized organizations. This vulnerability is however evermore present and significant within the smaller of businesses. In the micro enterprise, the impact of corporate amnesia is realized when even a single member of staff is absent for any lengthy period of time or vacates their post altogether. With more than 80% of the workforce in the US and separately in the UK directly engaged within a micro enterprise, the competitive benefits that can potentially be realized by addressing corporate amnesia is significant. This paper will identify the main causes of corporate amnesia within the micro business environment and propose a suitable framework for the enterprise to effectively facilitate the adoption of Knowledge Management and realize the associated competitive benefits.