KM involves people, technology and processes in overlapping parts, and at a minimum includes these parts:
Using accessible knowledge from outside sources Embedding and storing knowledge in business processes, products and services Representing knowledge in databases and documents Promoting knowledge growth through the organization’s culture and incentives Transferring and sharing knowledge throughout the organization Assessing the value of knowledge assets and impact on a regular basis
2 Why is KM important to an organization?
Proactive consumers, called “prosumers,” are better informed than consumers of a decade ago. Their feedback enables firms to adapt products and services to meet their needs in a more focused way than before. KM also allows an organization to retain its knowledge despite the retirement of experienced workers. KM shortens the learning curve, enhances employee problem solving, and builds mutual trust throughout all levels of an organization.
3 Describe the ideal knowledge organization.
The ideal knowledge organization is one where people exchange knowledge across the functional areas of business by using technology and established processes. People\exchange ideas and knowledge for policy formulation and strategy. Knowledge is internalized and adopted within the culture of the organization. All people are in an environment where they can freely exchange and produce knowledge assets by using various technologies.
4 What are the drivers for KM?
Technology drivers – the proliferation of technology, data communications, networking, and wireless transmission including the World Wide Web.
Process drivers – the need to improve processes and learn from past mistakes.
Personnel-specific drivers – increased use of cross-functional teams and need to avoid brain-drain.
Knowledge-related drivers – the need to share knowledge and transfer valuable knowledge throughout the firm.
Financial drivers – knowledge follows the