Knowledge management

Topics: Knowledge management, Knowledge, Knowledge engineering Pages: 9 (4185 words) Published: September 29, 2014
1 What is KM?
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 law of increasing returns – the more it is used the more value it provides.

5 What are the key challenges facing the implementation of KM programs? The biggest hurdle is often the need to change corporate culture to one where employees are rewarded for sharing knowledge. Once the culture is modified, the firm’s core knowledge must be evaluated and steps must be taken to learn how to capture, process, and act upon new knowledge. An additional challenge is addressing the area of collaboration so that employees can share documents and needed information for projects.

6 Why is trust such an important requirement for successful KM deployment? Trust supports the KM process by giving employees clear impressions that reciprocity, free exchange, and proposing innovations will be recognized and fairly compensated. Lack of trust encourages employees to act contrary to the best interest of KM by hoarding information. Employees that hoard information often do so based upon the mindset that if they alone possess the solution to a problem that they become indispensable to the organization.

7 Where can a firm acquire relevant knowledge?
A knowledge organization derives knowledge from several sources. Customer knowledge – needs, who to contact in the company, customer buying power Product knowledge – what products are in the market and who is buying them at what prices, and how much total money is being spent on products of this type Financial knowledge – capital resources, where to acquire capital and at what cost, and integrating in financial practices Personnel practices – the expertise available, the quality service they provide, how to go about finding experts

8 What are any five characteristics of knowledge?
Knowledge involves a human interaction with reality.
Knowledge involves a judgment, a subsumption of the particular under the universal. Knowledge has a moment of categorical imperative and can induce a cognitive dissonance between the positive and normative....
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