Knowledge Management

"Knowledge Management is the discipline of enabling individuals, teams and entire organisations to collectively and systematically create, share and apply knowledge, to better achieve their objectives"

Types of Knowledge From Knowledge Management point

Skills: These are personalized skills possessed by individuals. Many times experts explicit their skills so that their knowledge can be used more effectively by users. Cases are stories of real time events that give practical knowledge to the users. Thus we learn how the world works in real life. This is the best way to learn from previous mistakes and achieve from previous successes. Processes are supposed to be high-level skills that are systematized to provide most abstract form of knowledge. Out of many skills required for a work, few are worked out into processes to make them standards.

Stages of Knowledge Management

Michael Koenig explained three stages of Knowledge Management: The first stage of KM all about use of IT (intranets) for knowledge sharing and coordination across the enterprise. The second stage added focus on human and cultural factors as essential in getting humans to implement KM. The third stage is the awareness of the importance of content- and, in particular, an awareness of the importance of the retrievability and therefore of the arrangement, description, and structure of that content.

The Importance of Knowledge Management

Most companies are focused on producing a product or service for customers. However, one of the most significant keys to value-creation comes from placing emphasis on producing knowledge. The production of knowledge needs to be a major part of the overall production strategy. One of the biggest challenges behind knowledge management is the dissemination of knowledge. People with the highest knowledge have the potential for high levels of value creation. But this knowledge can only create

value if it's placed in the hands of those who must execute on it. Knowledge is usually difficult to access it leaves when the knowledge professional resigns. The only irreplaceable capital an organization possesses is the knowledge and ability of its people. The productivity of that capital depends on how effectively people share their competence with those who can use it. Andrew Carnegie Therefore, knowledge management is often about managing relationships within the organization. Collaborative tools (intranets, balanced scorecards, data warehouses, customer relations management, expert systems, etc.) are often used to establish these relationships. Some companies have developed knowledge maps, identifying what must be shared, where can we find it, what information is needed to support an activity, etc. Knowledge maps codify information so that it becomes real knowledge; i.e. from data to intelligence. For example, AT&T's knowledge management system provides instant access for customer service representatives, allowing them to solve a customer's problem in a matter of minutes. Monsanto uses a network of experts to spread the knowledge around. Employees can lookup a knowledge expert from the Yellow Page Directory of knowledge experts. In the book Value Based Knowledge Management, the authors advocate that every organization should strive to have six capabilities working together: 1. Produce : Apply the right combination of knowledge and systems so that you produce a knowledge based environment. 2. Respond : Constantly monitor and respond to the marketplace through an empowered workforce within a decentralized structure. 3. Anticipate : Become pro-active by anticipating events and issues based on this new decentralized knowledge based system. 4. Attract : Attract people who have a thirst for knowledge, people who clearly demonstrate that they love to learn and share their knowledge opening with others. These so-called knowledge professionals are one of the most significant components of your intellectual capital. 5. Create : Provide a strong learning environment for the thirsty knowledge worker. Allow everyone to learn through experiences with customers, competition, etc. 6. Last : Secure long-term commitments from knowledge professionals. These people are key drivers behind your organization. If they leave, there goes the knowledge. Knowledge professionals will become the dominant force behind the new economy, not unlike the farmer was once the key player behind the agricultural age. By the year 2010, one-third of the workforce in the United States will be comprised of knowledge professionals. It is incumbent upon all organizations to embrace this need for managing knowledge. Just take a look at those organizations that seem to create value against the competition. You will invariably find a strong emphasis on knowledge management.

Knowledge Management and Special Purpose Business Information System KNOWLEDGE MANAGEMENT KM Strategy in organizations KM is a concept in which an enterprise gathers, organizes, shares, analyzes the knowledge of individuals and groups across the organization in way that directly affect performance

A discipline that helps spread knowledge of individuals or groups across organizations in ways that directly affect performance. KM envisions getting the right information within the right context to the right person at the right time for the right business purpose.. Knowledge Management is the systematic management of vital knowledge and its associated process of creation, organization, diffusion, use and exploitation. KM can be broadly defined as the identification and management of processes for leveraging the intellectual capital of organizations over time and place. As such, it applies to every job function and process and seeks to capture institutional learning and share best practices for the benefit of the entire firm and clients. Sources of Knowledge Internal information resources: People -oral communication Correspondence -Mail, memoranda Data Records -Files on activities, operations, personnel Graphic materials - Maps, charts, diagrams, etc External information resources: People outside the organization Internal information resources of other organization Published information- books, journals, report, etc. Electronic databases and data banks Three pillars of knowledgeManagement Technology Process People Process of KM The KM process covers information both internal & external),experience of employees, & details of the systems & procedures. It aims at empowering employees with the required information and knowledge in order to improve their performance and productivity. Objectives of Knowledge Mgt. Create knowledge repositories Improve knowledge access Enhance the knowledge environment Management knowledge as an asset. Phases of KM Knowledge Identification Knowledge Elicitation Knowledge Classification Knowledge Storing The Knowledge Management Cycle The Knowledge Management Cycle Create knowledge Capture knowledge Refine knowledge Store knowledge Manage knowledge Disseminate knowledge Roots of Knowledge Management Knowledge Management

The Industry and Status Anderson Consulting(Accenture) 1. Acquire 2. Create 3. Synthesize 4. Share 5. Use to Achieve Organizational Goals 6. Environment conducive to knowledge sharing Ernst & Young 1) Knowledge Generation 2) Knowledge Representation 3) Knowledge Codification 4) Knowledge Application Reason for Adopting KM Retain expertise of personnel Increase customer satisfaction Improve profits, grow revenues Support e-business initiative Shorten product development cycles Provide project workspace Business Uses of KM Initiative Capture and share best practices Provide training, corporate learning Manage customer relationship Deliver competitive intelligence Provide project workspace Manage legal, intellectual property Reference: http://seminarprojects.com/Thread-knowledge-management-and-specialpurpose-business-information-system#ixzz1qQj6QNyk