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FAQs - Managers
Why is Knowledge Management Important?
In the emergent networked knowledge economy, knowledge is increasingly the primary source of wealth. There is high value in know-how assets, such as designs, patents, knowledge of technologies, processes and markets. Intangibles accounts for an increasing proportion of national wealth and international trade. Even in the making and supply of physical goods, it is the intangibles, such as product and application know-how, and customer service that adds value, and can command a premium price. A Benefits Tree shows how improved knowledge can flow through to bottom-line business benefits, such as productivity, quality and customer service.
How Do I Make the Business Case for Knowledge Management?
Since knowledge management is most commonly a strategic programme affecting many parts of an organization, and the results of an investment are not always immediately obvious it is sometimes difficult to make an a priori financial investment case. However, it is usually not difficult to develop a business value proposition for knowledge management, that identifies the organizational and customer benefits that can be achieved. Read the Insight Knowledge Management: Making Sense of an Oxymoron. You'll find more about the nuts and bolts of making a robust business case in our K-Guide: Making The Business Case For Knowledge Management.
What Makes a Viable Knowledge Management Strategy?
A viable strategy is one that has demonstrable links to business objectives. Common strategies are based around faster-time-to-market, improved customer service and higher productivity through better sharing of best practices. A key factor in every case is that core knowledge, such as customer knowledge, is actively managed so that it flows easily from those who generate it to those who need it. Developing a Knowledge Strategy needs a focus on two or three of the seven strategic knowledge levers. You'll find more detail in our K-Guide Developing A Knowledge Management Strategy.
How Do I Assess my Organization's Readiness?
You need to carry out some kind of diagnostic along four dimensions - business strategy and priorities, information and knowledge (content and processes), human and organizational factors, and technological infrastructure. The Know-All Assessment is a questionnaire that offers a preliminary assessment based on ten proven success factors.
If we have not addressed your specific question in the above sections, please put your question in the FAQ feedback form. We will regularly review and modify these FAQs where necessary, based on the number and type of questions received.
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