Friday, May 15, 2020

The Monthly Learning Summary: Knowledge Management Value & Structure May 2020

Knowledge Management should take a holistic approach by thinking knowledge as the business consciousness and treating knowledge as an intangible asset of the organization.

High organizational learning relates to high response in recognizing and addressing system constraints, adapt to the ever-changing environment.

 With the increasing pace of changes and the cutting-throat competitions, to effectively respond to the digital dynamics, either individually or collectively, continuous learning becomes an important skill for skill-building and prerequisite of developing changeability.

 

         Knowledge Management Value & Structure



Knowledge Management Structure and Value Knowledge is information that has the potential to generate value. Knowledge is power. Compared to the physical asset, knowledge is more intangible, complex, and dynamic. Some companies have managed it, but very few companies are doing what they should do to design a knowledge structure and take a holistic approach to preserve and manage knowledge from the long-term strategic perspective and build a knowledge savvy organization.

Knowledge as the Business Consciousness and Intangible Asset of the Organization Knowledge is power; knowledge is more intangible, complex, and dynamic compared to the physical asset. Due to the exponential growth of information, the multitude of information formats, and risk/compliance concerns; managing knowledge becomes more challenging but critical for running a smart business. Knowledge Management should take a holistic approach by thinking knowledge as the business consciousness and treating knowledge as an intangible asset of the organization.

The Characteristics of Digital Knowledge Management With abundant information and technology-enabled digital convenience today, knowledge has a broader scope and deep impact on business success for the long term. Knowledge Management is the management with knowledge as a focus. Organizational data, information, knowledge, and insight are the different stages of the information life cycle that organizations need to manage effectively and improve their business capability maturity. Here are three characteristics of knowledge management.

Knowledge Management Purpose and Goals Knowledge Management (KM) is the management with knowledge as a focus, involving 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.

The Multifaceted Information, Knowledge, and Digital Workforce Management Increasing paces of changes and continuous disruptions throw the challenge for businesses across sectors to respond and adapt with faster speed. Running a digital organization starts with a growth mindset and follows with progressive activities. A digital workplace encompasses so much that it's hard to isolate it from other dimensions of the enterprise. With information fluidity, knowledge abundance, powerful digital technologies, the digital organization should be designed openly for anyone with ideas on how human organizations ought to be contrived in face of “VUCA” digital new normal and explore the full digital potential.

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