ASST.PROF.PHORRAMATPANYAPRAT TONGPRASONG, PhD, FHEA UKPSF

Tongprasog, P. (2024). Wisdom Assets, Availabel from https://musterverse.dusit.ac.th/wisdom/
TongWEBSITE >> MUSTLAND.ORG

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WISDOM ASSETS
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Knowledge is the theoretical understanding of facts, concepts, and principles acquired through learning or education. It's like having a textbook full of information. Experience, on the other hand, is the practical application of that knowledge gained through doing or living. It's like having a real-world lab where you put your textbook knowledge to the test.

While knowledge provides a foundation for understanding, experience enhances problem-solving, decision-making, and adaptability. They often go hand-in-hand, as experience is often based on knowledge, and knowledge is often gained through experience.

Knowledge vs. Experience

Feature	Knowledge	Experience
Definition	Information acquired through learning or education.	Practical application of knowledge gained through doing or living.
Source	Books, articles, courses, research, and other sources of information.	Personal encounters, trials, successes, failures, and life situations.
Nature	Theoretical and conceptual.	Practical and applied.
Focus	Understanding facts, concepts, and principles.	Applying knowledge to real-world situations.
Value	Provides a foundation for understanding and decision-making.	Enhances problem-solving, decision-making, and adaptability.
Relationship	Experience is often based on knowledge, but it goes beyond it by incorporating practical application and personal insights.	Knowledge is often gained through experience as one learns from their encounters.

The Comparison of Wisdom Assets vs. Intellectual Properties

Feature	Wisdom Assets	Intellectual Properties
Definition	Non-tangible assets from experience and insight	Legal rights protecting creations of the mind
Characteristics	Knowledge-based, communal, promotes critical thinking	Tangible protections, requires registration
Value	Influences strategies, enhances innovation	Provides competitive advantage, generates revenue
Management	Cultivation and sharing of insights	Legal oversight and enforcement of rights
Nature	Intangible, experience-based	Tangible, legally recognized
Protection	Cannot be legally protected	Legally protected through patents, trademarks, etc.
Monetization	Enhances decision-making and strategy	Can directly generate income

The term "wisdom assets" is not universally defined, but it generally refers to the intangible assets that contribute to an individual's or organization's ability to make sound decisions, solve problems, and navigate complex situations. These assets can include knowledge, experience, insights, intuition, and the ability to reflect and learn from past experiences. Here are some key components of wisdom assets:

1. Knowledge
   - **Definition**: The accumulation of facts, information, and skills acquired through experience or education.
   - **Importance**: Knowledge is foundational for making informed decisions and understanding complex issues.

2. Experience
   - Definition: The practical contact with and observation of facts or events over time.
   - Importance: Experience helps individuals and organizations learn from past successes and failures, providing context for future decisions.

3. Intuition
   - Definition: The ability to understand something instinctively, without the need for conscious reasoning.
   - Importance: Intuition can guide decision-making, especially in situations where data is incomplete or ambiguous.

4. Emotional Intelligence
   - Definition: The ability to recognize, understand, and manage our own emotions and the emotions of others.
   - Importance: High emotional intelligence contributes to better interpersonal relationships and effective leadership.

5. Critical Thinking
   - Definition: The ability to analyze information objectively and make a reasoned judgment.
   - Importance: Critical thinking enables individuals to evaluate arguments, identify biases, and make logical decisions.

6. Reflective Practice
   - Definition: The process of reflecting on one's experiences to gain insights and improve future actions.
   - Importance: Reflective practice fosters continuous learning and adaptation.

7. Ethical Judgment
   - Definition: The ability to discern right from wrong and make decisions that align with moral principles.
   - Importance: Ethical judgment is crucial for maintaining integrity and trust in personal and professional relationships.

8. Collaboration and Communication Skills
   - Definition: The ability to work effectively with others and convey ideas clearly.
   - Importance: Collaboration and communication are essential for leveraging collective wisdom and achieving common goals.

9. Adaptability
   - Definition: The ability to adjust to new conditions and challenges.
   - Importance: Adaptability is vital in a rapidly changing world, allowing individuals and organizations to thrive despite uncertainty.

10. Vision and Strategic Thinking
   - Definition: The ability to foresee future trends and develop long-term plans.
   - Importance: Visionary thinking helps guide organizations toward sustainable success.

Application of Wisdom Assets
- Personal Life: Individuals can cultivate their wisdom assets through lifelong learning, self-reflection, and seeking diverse experiences.
- Organizations Level: Companies can leverage wisdom assets by fostering a culture of learning, encouraging collaboration, and valuing diverse perspectives.

Conclusion
Wisdom assets are crucial for effective decision-making and problem-solving in both personal and professional contexts. By recognizing and developing these assets, individuals and organizations can enhance their capacity to navigate challenges and seize opportunities..

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WISDOM FROM DATA

wisdom of creative community

Address:
Asst.Prof.Phorramatpanyaprat Tongprasong, PhD, FHEA
Suan Dusit University,
295 Nakhonratchasima RD., Dusit,
Dusit, BKK, Thailand 10300.
TEL. +6622445748

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