Like never before, harnessing and leveraging on knowledge and expertise is no longer a luxury, it is a necessary game changer.
What is knowledge management?
Knowledge relates to all the capital owned by people and staff of a company: know-how & expertise, competencies, market experiences etc. Knowledge management helps companies turn this human capital into intellectual capital by creating value.
Unlike content management, Knowledge Management (KM) is not only about storing documents. It is about increasing people skills and expertise thanks to sharing.
Knowledge management enables people collaboration and connects them to expertise. The ability to quickly find a subject matter expert and get the answer to a question or assistance in solving a problem is a priority in knowledge management.
Knowledge management prevents companies from constantly reinventing the wheel, hence the decreasing supply of talent, the retiring boomers, the staff turnover etc.
"Today knowledge has power. It controls access to opportunity and advancement."
Peter F. Drucker
Why Deloitte is proposing solutions in knowledge management?
Based on our experience, to help our clients in implementing a knowledge management strategy, we propose a phased approach based on 6 major life-cycle components allowing the creation a sustainable knowledge sharing culture:
Furthermore, the Deloitte knowledge management offering includes services that are aligned to business objectives and strategy of its clients and in particular can include:
- The assessment of the knowledge management maturity
- The definition of a knowledge management roadmap
- The assistance in the selection and implementation of knowledge management solutions
- The development of a plan for culture change
Benefits of knowledge management
Knowledge management prevents staff from constantly reinventing the wheel, provides a baseline for progress measurement, reduces the burden on expert attrition, makes visual thinking tangible, and manages effectively large volumes of information to help employees serve their clients better and faster.
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Knowledge management communities
A solution to enhance tacit knowledge into a knowledge management framework is to ignite the emergence of knowledge communities , also called communities of practice.
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Main success factors to secure intellectual capital through knowledge management
One of the first – and very important- steps in knowledge analysis is to identity the barriers to knowledge sharing and address each one of them.