"Business knowledge management" refers to the process by which organizations manage and leverage knowledge. It involves the gathering, organization, access, dissemination and application of information. Knowledge management can increase employee productivity, creativity and innovation. Plan knowledge management initiatives carefully, as successful knowledge management relies on several key factors.
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Consistent and Clear Focus
Successful outcomes in knowledge management initiatives require a clear and consistent focus. Knowledge management initiatives driven by mission and vision statements clarify the purpose of knowledge management in the organization. Organizations generally develop mission and vision statements in conjunction with senior management, aligning them with the strategy and goals of the organization. These statements drive all knowledge management initiatives; organizations must communicate them clearly to every employee.
Senior Management Support
Knowledge management often represents a new area for many companies; as such, the implementation of knowledge management initiatives frequently causes organizational disruption. Senior management must support the mission and vision of the knowledge management team, along with the initiatives it works to carry out. This top-down approach ensures that all employees understand the importance of knowledge management to achieving company goals, engage actively in knowledge sharing and participate in knowledge management initiatives.
Sharing of Information Across Company Boundaries
Successful knowledge management depends on the access and transmission of information across organizational boundaries supported by a company culture valuing knowledge management, as well as employee willingness to engage in information dissemination and transfer. Company cultures that do not value knowledge sharing hinder knowledge management efforts by stemming the flow of information.
The Right Technological Tools
Knowledge management involves the access, storage and transfer of information. Today, technology allows for these processes to occur more effectively and efficiently. However, each organization will have unique information technology needs. Carefully chosen knowledge management technology, such as software, will meet the needs of the organization and the goals of knowledge management initiatives. A needs assessment will help the organization choose the appropriate tools to meet its information requirements.
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