knowledge management
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Knowledge Management is the explicit and systematic management of vital knowledge - and its associated processes of creation, organization, diffusion, use and exploitation. 1 (9), (10)
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knowledge management
Transcript of knowledge management
Knowledge Management is the explicit and systematic management of vital knowledge - and its associated
processes of creation, organization, diffusion, use
and exploitation.
1(9),(10)
2
Common Knowledge Management Definitions Discipline within an organization that ensures that the intellectual capabilities of that organization are shared, maintained and institutionalized The process of systematically and actively managing and leveraging the stores of knowledge in an organization
The way a company stores, organizes and accesses internal and external information. Refers to an entire integrated system for accumulation, integration, manipulation, and access of data across multiple organizations
Tacit This type of
knowledge exists in people’s heads, not articulated or documented
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Knowledge Management
Tacit Knowledge Explicit Knowledge
Knowledge
Information
Data
Explicit– This type of knowledge
can be» Processed by information
systems
» Codified and recorded
» Archived and protected
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Knowledge assets have often become more important to companies than financial and physical assets and are often the only way for a company to distinguish itself from its competitor & gain competitive advantage
Lost knowledge given the enormous of baby boomers that will be changing jobs or retiring in next few years cause productivity cost of an employee leaving 85% of their base salary due to their replacement’s mistakes, lost knowledge and lost skill( Beazley et al, 2002)
Relate to the concept of knowledge half-life, from which it is found that knowledge reaches obsolescence, on average, in 500 days, but can be much quicker in some areas- Lost knowledge obviously has a cost, estimated that $115 billion sits idle in lost knowledge affiliated with production technologies
- An astounding example of this is the loss of the original computer source code, written in the 1950’s, that spawned the Y2K software crisis, has cost businesses worldwide an estimated $1 trillion (Petch, 1998)
KM Significance
(25)
People Knowledge Teams - multi-disciplinary, cross-
functional Learning Organization - personal/team/org
development Corporate Initiatives – Chief Knowledge Officer
Systems Knowledge Data-bases - experts, best practice Knowledge Centers - hubs of knowledge Technology Infrastructure - Intranets, Domino
Document Management
5
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Sharing existing knowledge“Knowing what you know”
Knowledge for Innovation“Creating and Converting”
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CreateProduct/Process
Innovation Cycle KM Cycle
KnowledgeRepository
Codify
Embed
Diffuse
IdentifyClassify
AccessUse/Exploit
Collect
Organize/Store
Share/Disseminate
Customer Knowledge - the most vital knowledge
Knowledge in Products - ‘smarts’ add value Knowledge in People - but people ‘walk’Knowledge in Processes - know-how when
neededOrganizational Memory - do we know what
we know?Knowledge in Relationships - richness and
depth Knowledge Assets - intellectual capital
8(9)
IBM, Oracle, Cisco Measure intranet value at over $1
billion
BT, UK telecommunications company Employee ideas have saved £100
million
Sodexho’s SuperSleuth Cash reward for employees submitting
sales leads Led to over $90 million in sales volume
9(20)
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1.Knowledge is just as important, if not more so, to a smaller company trying to compete in the rapidly changing global marketplace. Smaller companies must capture, assimilate, and capitalize on every advantage they can find, including KNOWLEDGEKNOWLEDGE
2.Smaller firms have the advantages from Culture and Organizational structure in place that is much more conducive to implementing knowledge management effort such as type of environment, which is predicated more on social relationship, familiarity and trust between employees
A little Knowledge that acts is worth more than much knowledge that is A little Knowledge that acts is worth more than much knowledge that is idle.(Kahlil Gibran)idle.(Kahlil Gibran)
Common Misconceptions
Everyone: Managers/Supervisors
▪ Leaders as knowledge champions
The Knowledgeable▪ Not a problem of knowing, but of
access
End Users▪ Feedback▪ Psychological barriers
11(13), (14)
