Friday, March 13, 2020

Knowledge Management Purpose and Goals

Create an environment that encourages the utilization and the flow of knowledge, takes a holistic approach to process and update knowledge for improving organizational maturity.

Knowledge Management (KM) is the management with knowledge as a focus, involves the use of technologies and processes with the goal to improve the organizational learning agility and maturity.

The organization can choose KM at the strategic level, and it would ride on all important concepts to create and sustain competitive advantages. More specifically, the role of KM is being a generator, amplifier, and accelerator of value creation.

Value generator: Knowledge is information that has the potential to generate business value. Nowadays, organizations become over-complex and interdependent, more attention needs to be placed on the conditions that allow knowledge to generate business insight and foresight. Knowledge does not stand still, and knowledge is not an isolated fact but needs to flow and transfer for achieving its business value. As a matter of fact, the power of knowledge can be released only when it’s used to create value.

Information Technology is a powerful tool that can be used to enable Knowledge Management for making effective decisions and generating business value, ensuring sharing or managing knowledge will not become a goal in itself. In practice, effective and productive Knowledge Management activities and scenarios should understand and manage complexity, know how to prioritize based on the business needs, enable knowledge flow, connect ideas but also people, and communicate extensively, to improve decision effectiveness and create business value.

Capability Amplifier: Knowledge is power. The goal of knowledge management is about leveraging knowledge, optimizing processes to keep knowledge flow and update. The maturity level of Knowledge Management depends on how high and how fast the organization can climb “Knowledge Hierarchy” smoothly by managing a healthy data-information-knowledge-insight-wisdom cycle to develop business intelligence and amplify organization competencies.

The digital organization as a hyperconnected and interdependent system is not scalable so easily, but it’s a worthy effort to streamline KM and amplify business capabilities. Knowledge workers with intrinsic motivation like to share their knowledge. To keep knowledge updated, 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 improving decision effectiveness and problem-solving competence.

Performance Accelerator: We are shifting from industrial economy to knowledge economy, part of taking knowledge seriously as a corporate asset involves assigning responsibility for knowledge management within the organization, both maintaining and improving knowledge flow and accelerating business performance. To catalyze innovation and accelerate performance, organizations today have to take an integral and holistic knowledge management approach to deal with knowledge transferring and keeping the knowledge fresh in a way that fits the strategy of the business the best.

Digital literacy requires cross-functional collaboration and interdisciplinary knowledge sharing. KM needs to be well embedded in key business processes to shape a culture of learning, broaden varying perspectives, connect unusual dots, motivate people to learn, share, and improve collective performance. High-performance companies are capable of mobilizing collective information, knowledge, ideas, experiences, capacities to develop learning agility and accelerate performance for adapting to the ever-changing environment.

Knowledge Management is not just a technological problem, but a business and human problem. Create an environment that encourages the utilization and the flow of knowledge, takes a holistic approach to process and update knowledge for improving the organizational decision effectiveness, amplifying business competency, unlocking organizational performance, generating business value, and unleashing collective human potential.


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