Would you like to have a successful company?

Company that wanted to be success must manage their knowledge management actively for these 3 reasons:

i)                   Facilitates decision-making capabilities.

Achieving great and high-quality decisions can be erupted by the overwhelming processed information.  A company needs to plant a knowledge management system as to help the members of top management to share the information, cut through the noises that erupts the dissemination of information as well as improve the decision-making process.  All in all, specifying a place for the knowledge management system can aid in producing a more informed and better decisions for the managers.

ii)                   Builds learning organization by making learning routine.

“To move ahead, one must often first look behind” (Garvin, 2000. p.106).  by this quote it means that in order to move forward, a company must make learning a routine to improve themselves.  This can be done through the assesments that is being done after an activity or event have taken place within the organization environment.  The result of this assesment is that the company gets to identify areas for improvements as well as identify the success and/or failures of the activities/events.

iii)                 Stimulates cultural changes and innovation

A very well managed and active organizational knowledge can stimulates the cultural change and innovations of the organization itself by motivating its members to have a free flow of ideas.  With a proper management of knowledge, managers are able to accept changes as well as develop ideas and insight which later on, on most of the time, lead to the developing the current ideas or we know it as innovation.

This is a reviewed article. The original article can be retrieved from: http://www.forbes.com/sites/lisaquast/2012/08/20/why-knowledge-management-is-important-to-the-success-of-your-company/

INTRODUCING KNOWLEDGE MANAGEMENT

Knowledge management is essentially about getting the right knowledge to the right person at the right time. 

This in itself may not seem so complex, but it implies a strong tie to corporate strategy, understanding of where and in what forms knowledge exists, creating processes that span organizational functions, and ensuring that initiatives are accepted and supported by organizational members. 

Knowledge management may also include new knowledge creation, or it may solely focus on knowledge sharing, storage, and refinement. 

For a more comprehensive discussion and definition, see my knowledge management definition.

It is important to remember that knowledge management is not about managing knowledge for knowledge's sake.

The overall objective is to create value and to leverage, improve, and refine the firm's competences and knowledge assets to meet organizational goals and targets. Implementing knowledge management thus has several dimensions including:

KM Strategy: 

Knowledge management strategy must be dependent on corporate strategy. The objective is to manage, share, and create relevant knowledge assets that will help meet tactical and strategic requirements.

Organizational Culture:

 The organizational culture influences the way people interact, the context within which knowledge is created, the resistance they will have towards certain changes, and ultimately the way they share (or the way they do not share) knowledge.

Organizational Processes: 

The right processes, environments, and systems that enable KM to be implemented in the organization.

Management & Leadership: 

KM requires competent and experienced leadership at all levels. There are a wide variety of KM-related roles that an organization may or may not need to implement, including a CKO, knowledge managers, knowledge brokers and so on. More on this in the section on KM positions and roles

Technology:

 The systems, tools, and technologies that fit the organization's requirements - properly designed and implemented.

Politics: 

The long-term support to implement and sustain initiatives that involve virtually all organizational functions, which may be costly to implement (both from the perspective of time and money), and which often do not have a directly visible return on investment.

Aren't you curious on WHAT Knowledge Management is?

I bet you guys do.

Look nowhere else.  Here it is.

Knowledge Management (KM) is a concept where organization’s knowledge – mainly documents, resources and also the human capital, are being gathered, organized, shared and analysed consciously in comprehensive manners.  The tasks includes data searching and some operational methods to give out the information to the targeted audiences.

In order to address the organizational needs, KM will handles the survey in which it involves the corporation’s goals and also an in-depth examination on both traditional and technical tools .

Like any other things, Knowledge Management also has goals for its existence.  One of it is to enables the managers to sort and detect the relevant organizational contents and also to locate the expertise needed to work out the right business projects and tasks. Another goal of KM is to come up with a map known as 'knowledge map report' or 'KM dashboard' through the analysis of the relationships between activities, topics, contents and also people 
(http://searchdomino.techtarget.com/definition/knowledge-management).

In a much simpler form, KM functions as the process that captures, distribute and effectively use the knowledge (Davenport, 1994).

So, do you find this post made it easier for you to understand what KM is? If it so, we're glad you did.

See you again in another post :)

This post is reviewed from http://searchdomino.techtarget.com/definition/knowledge-management and an article by Michael E. D. Koenig in http://www.kmworld.com/Articles/Editorial/What-Is-.../What-is-KM-Knowledge-Management-Explained-82405.aspx.

Hello, there!

Welcome to our blog where we will enlightened you with what you need to know about ‘Knowledge Management’.  It may be relatively new to your hearing and mind, but fret not. We are here to help you understand it better.  

Happy reading :)