High-performance companies are capable of mobilizing collective information, knowledge, ideas, experiences, capacities to develop business competency and learning plasticity for adapting to the ever-changing environment.
The digital era upon us is about the exponential growth of information, abundant knowledge, and the rapid pace of changes. While information is an ingredient of knowledge; in order to interpret information, you need knowledge. Both information and knowledge are not equal to insight, but they are the foundation to capture insight and allow people to make the right decisions at the right time. Here is the philosophical and conceptual understanding of information vs. knowledge.
Contextualism: Information Management is the overall process of aligning the use of information through business management, assurance and involves leveraging technologies and processes to optimize the business value that is generated. An essential role for Knowledge Management is to enable knowledge flow, connect ideas but also people, and crucially, cross-disciplinary management to improve organizational learning intelligence.
Functional silos, overly rigid processes, or outdated best practices are all root causes of poor information and knowledge management as information in the digital era has the characteristics of velocity, variety, and viability. In practice, effective and productive Information and Knowledge Management activities and scenarios should understand and manage complexity, know how to prioritize based on the business needs, communicate extensively, focus on information adoption to ensure right people getting the right information to make the right decisions for solving the right problems timely.
Information Management is a linchpin to weave all crucial business elements to a set of differentiated enterprise competencies for improving the success rate of strategy management and the overall organizational maturity. The art and science of information knowledge management are about how to connect the dots, cleanse data, clarify information, content, context, optimize information usage and achieve its value.
Algorism: Many think the digital era upon us is about algorism, raw data from machines needs to be processed into information which is further refined into knowledge assimilated by people. Data in dissimilar systems need to be migrated, converted or just staying out due to budget and time constraints, be able to mitigate risks and deliver tangible and visible business benefits and improve user experience.
As companies should transform themselves into the digital business that is based on information, their ability to explore intangible assets such as information and knowledge has become far more decisive to build a competitive business advantage.
Information Technology is a powerful tool (hardware and software) that are used to generate algorithms to enable information knowledge Management for creating business value. Part of taking knowledge seriously as a corporate asset involves assigning responsibility for knowledge within the organization, both maintaining and improving knowledge flow. Contemporary organizations need to relentlessly optimize business capabilities, processes, and cost, to manage organizational complexity, improve learning agility, and achieve strategic goals.
The intention of Eco-Information Life Cycle Management (Data-Information-Knowledge-Insight-Wisdom) is to build a high-intelligent organization. The synchronicity of the information management cycle enables the organization to improve business speed, generate ideas, make decisions, catalyze innovations, impact the velocity of capital flow, and thus, enforce the overall business responsiveness and performance.
Relativism: Modern businesses have their own dilemmas. There are overloaded information or knowledge gaps, siloed processes or inefficient procedures. To keep information relevant and knowledge update, an essential role for Knowledge Management is the need to connect ideas but also people, coach people in organizing their personal knowledge mastery and collectively engaging with others for collaborative and creative problem-solving.
An organization that has a lightweight process and collaborative culture which allows information and knowledge to flow, get protected, channeled and nurtured will succeed more often than an organization that has overly rigid processes and functional silos. Knowledge Management needs to be well embedded in the key business processes to shape a culture of learning, motivate people to become more informative and insightful for improving the overall decision effectiveness and organizational learning maturity.
In fact, information knowledge management effectiveness differentiates digital leaders from laggards. High-intelligent organizations across the vertical sectors proactively invest in strategic information knowledge management solutions, abstract insight for making informed management decisions, transcend information and knowledge management into solid strategy management so that they are able to ride change curves faster than competitors and move forward with accelerated speed.
Thus, the effective and productive Information Management activities and scenarios should understand and manage complexity, know how to prioritize based on the business needs, communicate extensively, focus on information adoption. High-performance companies are capable of mobilizing collective information, knowledge, ideas, experiences, capacities to develop business competency and learning plasticity for adapting to the ever-changing environment. The maturity level of Information & Knowledge Management depends on how high and how fast the organization can climb “Information Pyramid” or “Knowledge Hierarchy” smoothly by managing a healthy information-knowledge-insight wisdom cycle to build a high-intelligent organization.
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