Defining Knowledge Management
Knowledge management can be defined as an organization’s systematic approach concerning the retrieval, storage, creation, and sharing of knowledge. Through a variety of processes and procedures, businesses use knowledge management to bridge organizational gaps by extracting tacit and explicit knowledge from their employees.
Some of these processes include:
- IT development to help connect people
- IT development to aid in the storage and retrieval of information, forming communities of practice
- Creating new roles within the organization to support knowledge transfer
Knowledge management also focuses on how an organization can leverage this knowledge.
Case Studies
The implementation of a great knowledge management program can alleviate many challenges within a business. Let’s use some examples to illustrate.
- You have an angry client calling about a product that has been sold to them. The client was promised delivery of the product a month ago. However, the only person who can do this job is on sick leave for three weeks!
- You have three senior employees that have stores of vital knowledge that has not been transferred to the rest of the department. They are all retiring from the company within six months. You know your department and the company will suffer from their departure.
- You have been given a new, complex project to work on. You spend weeks on this project and generate solutions only to find out that a person in another department had knowledge that could have decreased your work time by half.
- You have been working on solving an organizational problem and have developed some solutions you think are fantastic. After hours of labor, you find out that a team in another department has solved the problem months ago and their solution is better than the solution you planned to propose.
- You are managing a department and now have four new employees. You wonder how you can bring them up to speed on their new role within the organization.
- You know that Peggy in HR has the information you need to complete a task. However, she is out of the office that day and you have no idea who else to ask for this information.
- You do a search for information on the company website and thousands of results come back. You do not have the time to search through them all and you have no idea which results would give you the information you need.
These workplace scenarios are quite common and they can have drastic effects on our individual productivity and the productivity of the overall company. Knowledge management is a system that advocates sharing or disposing knowledge through a variety of processes in the effort to increase our productivity. It encourages organizations to harness and take full advantage of their intellectual capital. Intellectual capital is an intangible, invaluable asset that includes an organization’s ideas, innovations, and different kinds of knowledge.
Lessons Learned
Many organizations do not have a system in place for handling their knowledge. Many people are unsure how to implement such a program and they may assume that knowledge will be transferred naturally. (In other words, the employees of the organization will figure out a way to connect with each other so they can find out what they need to know.) Additionally, the practice of knowledge management is relatively new to the business world.