Developing knowledge management what makes the success

Organizations considering the adoption of new communication and collaboration tools must also define their product strategy with respect to knowledge management. What are the reasons why knowledge management is necessary? Promote innovation and cultural change Enable and encourage the sharing of ideas, collaboration and access to the latest information. Increase customer satisfaction The sharing of knowledge and cross-collaboration help to increase the value offered to customers.

Communication Fragmentation. Galaxy Financial — Commercial Loans. Thus, knowledge management improves organizational processes through various practices and also can enhance organizational learning that increases both follower engagement and personal development. Executives today realize that knowledge is the one of most strategic factors for organizations from a competitive standpoint.

The question lies in how to maintain it, store it, retrieve it, and protect it. This has been a focal point of organizations since the corporation was first initiated and will always be an ongoing issue for leaders. Thus, executives create new ideas and knowledge for innovation and to motivate employees to solve their current problems in a more innovative manner.

The acquisition of new knowledge is an ongoing process and can be essential to identify the needs of customers and recognize changes in the business environment. Executives then integrate knowledge internally to enhance the effectiveness and efficiencies in various systems and processes, as well as to be more responsive to market changes.

In knowledge integration, the accumulated knowledge is shared and synthesized with an aim of providing higher-quality products and services. This can improve financial and non-financial performance in various metrics such as the customer focus, the quality of products and services, and organizational revenue. Shared knowledge can contribute to the development of a learning organization in which people continuously grow and develop both personally and professionally.

Executives also must curtail the knowledge within organizations. The integrated knowledge needs to be reconfigured to meet environmental changes and new challenges and, at the same time, should not be leaked to the competition in any shape or form unless agreed upon by senior executives. Often it is referring to training and learning in an organization or of its customers. The goal is to enable organizational learning and create a learning culture, where the sharing of knowledge is encouraged and those who seek to learn to better themselves find it easy to do so.

When thinking about knowledge management, it is helpful to consider the types of knowledge and how possible it is to share that knowledge within an organization.

Tacit knowledge and explicit knowledge are the two main types of knowledge covered within the definition of knowledge management. Knowledge management will ensure that the specialized knowledge of employees does not leave with them, or go unutilized by other employees who would benefit from that knowledge.

It allows for better situational awareness, as well as opening doors for learning about best practices, lessons learned, and overall organizational improvement. In making sure that all employees have access to the overall expertise held within the organization, a smarter workforce is built who are more able to make quick, informed decisions that benefit the company. Innovation is easier to foster within the organization, customers benefit from increased access to best practices and employee turnover is reduced.

The importance of knowledge management is growing every year. As the marketplace becomes ever more competitive, one of the best ways to stay ahead of the curve is to build your organization in an intelligent, flexible manner. You want to be able to spot issues from a distance and respond quickly to new information and innovations.

Knowledge management is an important tool in any company that wants to increase their bottom line and market share. In organizing the knowledge management for an organization, there is a four-step knowledge management process that can be followed. In this step of the process, the sources of knowledge are identified, as well as where critical knowledge is kept, what can be learned from this knowledge and if there are areas in which knowledge can be lost during the process.

The discovery process is helped by a solid understanding of the knowledge flow of the organization. Every organization contains a vast amount of knowledge, and it must be stored and organized in a deliberate manner. By creating a system that is mapped and categorized, knowledge is more easily accessed and the organizational structure is increased.

The organization must organize and assess the knowledge to see how best it can be folded into the structure of the organization. This step is when an organization should be establishing and promoting a cultural shift toward knowledge sharing and developing employees to be innovators. Building a system that works is the first step, but individuals need to understand how to use that system.

Implementing training programs can help increase the understanding of knowledge management systems. Once the system is being used, the company benefits from increased efficiency, better decision making, and more innovative employees. This could be through in-person tutoring, company-wide training sessions, online chats and group discussions - or a mix of those options and others.

For expertise location to be an effective aspect of a knowledge management system, there must be a searchable matrix built that allows for documentation of competencies. To get your team excited about the new knowledge management platform, hold a contest to encourage your employees to really dive in and get the lay of the land. Some of our customers have had success with virtual scavenger hunts or bingo games inside their knowledge management platform and contests to choose a name for the new KM community.

The prize can be lunch with leadership, a cool new tech gadget, paid time off, or whatever is appropriate for your organization. Hold regular training meetings for your employees so they can stay on top best practices, as well as any important product updates or changes. This is one of the best ways to keep employees engaged and sharing company knowledge effectively. One of the best ways to ensure success is by working with a knowledge management partner that offers implementation project management as a service.

For example, at Bloomfire, our expert implementation project managers have developed a four-stage enterprise ignition service covering planning, configuring the platform, seeding content, and launching to end-users. However, if you follow these steps when implementing your knowledge management solution, the investment you made will pay off. Happy knowledge sharing! This post was originally published on May 13, Want to learn more about how to successfully launch a knowledge management platform and get buy-in from both end users and the C-suite?

Check out our white paper now. Get a Demo Sign in. Share on Social. The Enterprise Guide to Launching a Knowledge Management Solution Want to learn more about how to successfully launch a knowledge management platform and get buy-in from both end users and the C-suite? Download Now. Read time: 7 mins. Collaboration Company Culture Knowledge Sharing. Read time: 5 mins. Company Culture Knowledge Sharing.