It is ironic that so many companies have an abundance of knowledge, but
fail to use it for managing the business. Knowledge is a critical
resource that warrants much more attention. If we are serious about
managing knowledge, then we need to embrace the concepts associated with
knowledge management.
“Businesses, especially large ones, have little choice but to become
information-based. To remain competitive, maybe even to survive,
businesses will have to convert themselves into organizations of
knowledge specialist.” – The Coming of the New Organization by Peter F. Drucker
Knowledge Management is the process of pulling together people, systems
and tools so that an enterprise wide structure is in place for efficient
and effective decision making. Unfortunately, many companies view
knowledge management as an IT project, trying to move information from
one location to another. Although technology does play a role, knowledge
management is more about understanding the resource and knowing how to
leverage it for growing the business. And yes, technology (such as
enterprise portals) is often deployed to help leverage knowledge.
However, it may be more important to focus on the information itself –
knowing how to classify it and analyze it before you give everyone
access to it.
A much better approach to knowledge management is to clearly understand
the intellectual assets of the business. This can include simple things
like getting more out of databases (a common repository of information)
or looking at strategic issues like properly identifying intellectual
assets and understanding how they impact the business. The goal is to
put the “whole brain” of the organization to work, getting all parts of
the body connected and working together for driving performance. This
usually requires some form of gap analysis – looking for gaps in your
knowledge assets, building knowledge to fill in these gaps, and making
sure you are using the knowledge that you currently have.
“Ultimately, intellectual assets have become more important than any
other because only by means of knowledge can companies differentiate
their work from their competitors.”
- The Wealth of Knowledge by Thomas A. Stewart
As author Peter Senge points out in his book The Fifth Discipline,
learning organizations are always expanding their knowledge, finding new
ways of creating knowledge, moving it seamlessly throughout the
organization and transforming it so that people have insights into what
they need to do. This requires a knowledge infrastructure, comprised of
numerous components such as databases, libraries, internal experts,
research centers, outside information brokers, and other knowledge-based
sources for plugging the knowledge gaps within the organization. It
also requires measuring and managing the value of knowledge so that it
truly fits within the organization. Many companies have created Chief
Knowledge Officers or Chief Learning Officers to help propel this
process.
Leveraging knowledge management requires much more than moving the stuff
around through Microsoft Sharepoint. It's about having a culture and
infrastructure that supports the knowledge needs of the organization.
This requires strong leadership, unlearning of old ways, an openness to
new possibilities, promotion of learning, and very seamless
communication on an enterprise wide level. This also requires a
willingness to learn from others regardless of who they are; i.e. you
must be willing to face the truth if you expect to leverage knowledge.
In essence, knowledge management is about finding the best ways of
running the business. And in order to accomplish this, you must be
willing to learn and use your newfound knowledge in new ways for
managing the organization. If a company isn't managing its knowledge,
then it isn't managing its business.
“All healthy organizations generate and use knowledge. As organizations
interact with their environments, they absorb information, turn it into
knowledge, and take action based on it in combination with their
experiences, values, and internal rules. They sense and respond. Without
knowledge, an organization could not organize itself; it would be
unable to maintain itself as a functioning enterprise.”
- Working Knowledge: How Organizations Manage What They Know by Thomas H. Davenport and Laurence Prusak
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