Knowledge is crucial to any organisation’s success. But where should your finite knowledge management resources be focused for the highest return-on-investment? In this article I describe one approach to help you make this decision.
In November 2018, the International Standards Organisation (ISO) published the 30401 standard for knowledge management systems (KMS). Its stated purpose is to “support organizations to develop a management system that effectively promotes and enables value-creation through knowledge”. In this article I review the document's content, and discuss its value to your organisation.
You can be forgiven for struggling to define what a knowledge manager does – many knowledge managers struggle to explain it themselves. But perhaps a better question is why they do what they do. What attracts them to this broad, ever changing, and often opaque field of regularly questioned value? I asked several KM professionals in my network how they came to be in their role, and what draws them to the KM field. While the specific reasons vary from person to person, there are nonetheless a few common elements.
Knowledge management (KM) helps organisations improve revenue and customer loyalty, shorten innovation cycles, and enable strategic development. Successful KM requires engagement, alignment with business goals and culture, and incremental change.
Knowledge is made up of three distinct parts. By understanding the Three Knows and their relation, you are able to learn faster, and communicate more effectively.
Experience is important. Companies recruit heavily based on a prospect’s relevant experience, as it is a key factor in career advancement. Clients favor suppliers with proven experience in their sector, and experience drives process and product improvement. Experience may be the most valuable asset organisations build up, and companies make considerable investments to prevent its loss when employees leave. Yet despite its importance, it can seem difficult to define and quantify.
In this article, I discuss the meaning of experience as part of an organisation’s knowledge, and suggest measures to ensure it is not lost.
Processes and projects produce valuable insights. They are often considered a side product, but can help the company achieve exponential growth. Doing so requires the right practices to identify, capture and transfer these Lessons Learned.
Document management is an important part of knowledge management, but its implementation often fails to deliver the expected value. In order to avoid failure, document management projects require a clear purpose and alignment with the business’ goals, long-term commitment from all levels of the organisation, and a “one step at a time” approach.
The direct and indirect costs of knowledge loss and failed innovation can be very high. Creating a knowledge continuity strategy for your organisation will help you reduce these costs. Such a strategy should be built around resilience, recovery and contingency.
Many employees – especially those of a newer generation – feel that their employers do not make the right investments into their developments. While both sides are driven to succeed in a rapidly changing world, they must come together to create the knowledge sharing culture and strategy they need to succeed.
Hans Luyts (LinkedIn)