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Knowledge management strategies

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Knowledge management strategies

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Knowledge management strategies

  1. 1. Knowledge Management: An Overview and Strategies that Work
  2. 2. • Knowledge management (KM) comprises a range of strategies and practices used in an organization to identify, create, represent, distribute, and enable adoption of insights and experiences. ... • The way a company stores, organizes and accesses [valuable] internal and external information KM Definitions
  3. 3. • 1995 (Nonaka) The Knowledge Creating Company • An increasing proportion of today’s wealth creating industries are knowledge intensive. • It is estimated that more than 70 per cent of work is information or knowledge related. • There is increasing value in intangibles • Growth in markets for trading of knowledge assets. • High fees paid for star performers. Fad to Fundamental
  4. 4. • If value lies locked inside peoples’ heads, how can it effectively be turned into corporate knowledge and more widely diffused and exploited? • KM improves the flow of information around the organization; • Makes information available when, and where, needed; • Uses information to add value (e.g., increased productivity, better customer service, improved business processes and products/services) Communication is the Basis
  5. 5. • 2 main strategies work: • 1. The better sharing of existing knowledge; avoiding reinventing the wheel • Intranets with databases and/or directories of best practices and expertise • Mapping processes Strategies that work
  6. 6. • 2. Creating new knowledge and converting it into products, services, or processes • Focus on better/faster innovation • More difficult than strategy 1, but greater return • Knowledge sharing = incremental improvement • Knowledge creation = large leaps e.g., Jaguar Strategies that work cont.
  7. 7. • Customer knowledge • Knowledge in processes • Knowledge in people • Organizational memory – decision diaries, after meeting reflections, AAR’s. etc. • Knowledge in relationships • Knowledge assets: 4 categories 1. human capital 2. customer capital 3. structural capital 4 Intellectual capital Knowledge Levers
  8. 8. • 1. Establishing a sense of urgency • 2. Creating the guiding coalition • 3. Developing a vision and strategy • 4. Communicating the vision • 5. Empowering employees • 6. Making short-term ‘wins’ • 7. Consolidating change and making more change • 8. Anchoring the change into the organizational culture Leading Change