Knowledge Management ('KM') comprises a range of practices used by organizations to identify, create, represent, and distribute knowledge
KM is a tool to achieve business objectives faster and better - through an integrated set of initiatives, systems and behavioral interventions - to promote smooth flow and sharing of knowledge relevant to the business and to eliminate reinvention.
A effectively deployed KM can be a powerful enabler of:
* Consistent customer experience by reducing variation in performance across business units or across time.
* Speed in business results by eliminating reinvention.
* Converting individual knowledge into reusable organizational knowledge.
* Empowering each employee to leverage the collective knowledge of the entire organization to service customers.
In short KM will
·deploy resources (processes, systems, people & technology) to discover, capture, validate, share & reuse knowledge, measure business benefits and recognize & reward knowledge centric culture
·capture & build a knowledge base comprising explicit, tacit and dynamic knowledge
·specialists will run projects/initiatives to identify areas for improvement, seek & share best practices, garner innovative solutions
·would help people correlate their contribution with end-customers satisfaction and overall business sustenance
Objective Of KM (Create ,Capture & Communicate)
·System :Creation and maintenance of Organization wide Knowledge Management Infrastructure
·Speed :Reduce information search time with increased effectiveness
·Quality :Take variation in performance as source of improvement
·Customers :Ensure consistent customer experience across all touch points using knowledge of customer interfacing staff
·Efficiency :Reduce tendencies of reinvention across organization
Business Benefits
·Reduces Cost - Replication is 70% cost effective.
·Higher sharing leading to quick learning of workforce which will yield higher employee productivity.
·Reduce search time & accuracy of decisions will lead to capital productivity
·Reduced customer pain areas will result in positive brand image
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Regards
Vinod