Knowledge Retention Strategies in Industries
A brief introduction Knowledge management is the systematic process of finding, selecting, organizing, distilling and presenting information. Tacit knowledge is the knowledge we each carry in our heads about how to do things, who to call and the lessons learned through experience. Making it explicit is recording in some media that allows another person to use it. The media can be a complex computer database or a piece of paper tacked over the water cooler. These methods are called knowledge retention strategies. Knowledge Management is the explicit and systematic management of vital knowledge – and its associated processes of creation, organization, diffusion, use and exploitation. There are many definitions of knowledge management. We have developed this one since it identifies some critical aspects of any successful knowledge management programme: 1. Explicit – Surfacing assumptions; codifying that which is known. 2. Systematic – Leaving things to serendipity will not achieve the benefits. 3. Vital Knowledge – You need to focus; you don’t have unlimited resources. 4. Processes – Knowledge management is a set of activities with its own tools and techniques. It is important to note that knowledge encompasses both tacit knowledge (in people’s heads) and explicit knowledge (codified and expressed as information in databases, documents etc.). A good knowledge programme will address the processes of knowledge development and transfer for both these basic forms. Many programmes start by focusing on the thrust of better sharing of existing knowledge e.g. sharing best practices. However, our research indicates that it is the second thrust – the creation and conversion of new knowledge through the processes of innovation that gives the best long-term pay-off.
Knowledge Management comprises a range of practices used by organizations to identify, create, represent, and distribute...
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