Knowledge Management
Knowledge Management is more than a technology solution; it is a broad concept that addresses the full range of processes by which an organisation deploys knowledge. These involve the acquisition, retention, storage, distribution and use of knowledge in an organisation.
Organisations are now spending a lot of time re-thinking how they can share information and corporate knowledge more effectively, and operate their business systems more efficiently in a seamless and integrated way. To achieve successful outcomes it is critical that participants in these projects have the essential know-how needed to deal with the many complexities involved. Those equipped with the understanding of how to develop and implement a ‘Knowledge Management Strategy’ will be able to make an enormous contribution to business performance.
Various attempts at defining Knowledge Management shed some light on the discipline:
The Delphi Group Study
For some folks knowledge management is a computer technology or group of technologies. When the Delphi Group did its survey of knowledge management in corporations, they surveyed, "500 professionals with experience and interest in electronic document technologies."
- 43% of those folks saw knowledge management as, "an opportunity to add value to information inside the organisation."
- 37% saw knowledge management as a, "major new strategic initiative for staying competitive."
Ernst & Young: Executive Perspectives on Knowledge in the Organisation
Another study, starting from a different point, got somewhat different responses. Ernst & Young did a survey (431 US and Euro firms) called "Executive Perspectives on Knowledge in the Organisation."
- 87% of their respondents named knowledge as critical to competitiveness.
- 44% reported that they were poor or very poor at transferring knowledge within their organisation.
The respondents saw chief barriers as: top management failure to signal importance (32%), lack of shared understanding of strategy or business model (30%) and organisation structure (30%).
Other Definitions of Knowledge Management
Peter Novins of Ernst & Young: "Organising information from disparate sources into a context that reflects the business and the decisions and processes of the business."
Ron Weissman of Verity, Inc.: "What senior managers are trying to do with knowledge management is manage intellectual assets the same way they manage physical assets."
Monash Professional aims to clarify and refine these descriptions of Knowledge Management as part of the learning that takes place in the short courses on Knowledge Management.
Knowledge Management Courses: