Knowledge management strategy is vital for some enterprises. This is true of organizations that rely less on physical assets. More and more depend on information and knowledge assets.
Managing knowledge may be a key element in your firm’s success. Your SWOT analysis should show this. You may need to create a strategy for knowledge management. This could be part of your corporate business strategy.
The management of organizational knowledge goes back many centuries in history. Knowledge management involved such things as -
Such practices cover gathering, organizing, sharing, and applying knowledge of special value to the organization.
Some trends affected the knowledge management. One trend is the growing size and complexity of organizations of all kinds. Another is the rise of information and communications technologies (ICT).
These include -
This has made possible quicker and cheaper knowledge sharing.
Some firms need systematic knowledge management. It is not always 'strategic'. That which was once a strategic advantage is now just a basic task.
Think of quality control.
Managing knowledge assets may affect your bottom line by say, 20% or more. This is 'strategic' enough for you to need a strategy for knowledge management.
Good knowledge management is vital in some industries. In these firms a strategy for knowledge management will be part of the corporate business strategy.
Such enterprises could include the following -
It is tempting to adopt popular approaches when designing a knowledge strategy. These include -
Adopting one or more of these is not a knowledge management strategy.
Such practices can be part of your strategy. If they fit with your strategy, and the nature of your business, use them.
As the diagram shows, look at knowledge management in each group in the firm. Also, link with the strategic directions of the business as a whole. This leads to a two-pronged approach. Making strategy for managing knowledge in the firm involves -
Corporate - The strategic priorities of the enterprise drive the focus of knowledge management. They also affect selection of knowledge management projects.
Local - Analysis of knowledge management in processes that support strategy achievement. This surfaces key staff needs and issues. Address these through a range of knowledge management projects.
Blend each of these approaches. Consult with affected staff. Your knowledge strategy will have strategic focus and staff buy-in.
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