What is Knowledge Management?

Principles

Knowledge Management is simply the management of knowledge of an organization, and of the knowledge that exists within that organization.

o   One of the most valuable assets of an organization is the knowledge that their employees have. Although it requires investment to manage this knowledge effectively, it is far more expensive not to do it.

o   Employees will work more effectively and mutually share their knowledge when they work in an environment of shared vision and values.

o   You cannot usefully contain knowledge in a traditionally fixed and hierarchical manner if you want it to be useful and have value. It is made up of many disparate pieces of information rather than being filed away in a meticulously collated set of documents. Knowledge management does not succeed by focusing on a hierarchical style of management but more with employees autonomously mapping and sharing their knowledge.

o   Knowledge management will always be ongoing.

o   There is no one solution to knowledge management.

Explicit, Implicit and Tacit Knowledge

Explicit knowledge is knowledge that can be easily written down and shared.

Implicit knowledge is the explicit knowledge that has not been written down or shared yet.

Tacit knowledge is gained from personal experience. It is difficult, or even impossible, to write it down or express it verbally. The knowledge of riding a bike cannot be gained by explicit knowledge alone. It also requires tacit knowledge that is only gained by getting on a bike and practicing to ride.

Application in organizations

Knowledge management needs to use explicit, implicit and tacit knowledge. Someone who gains explicit information from a manual on how to operate a machine will still benefit from implicit knowledge by talking to someone who has already used that machine. They could further benefit from the tacit knowledge given when they are given one-on-one instruction and then mentored while they learn how to use the machine.

Information needs to not just be passed up the corporate ladder but shared throughout the organization so that the whole organization can benefit.

Benefits of Knowledge Management

o   Knowledge management systems help business knowledge become available to all staff in a business.

o   It improves staff involvement and sense of purpose within a business.

o   It makes the sharing of information about new techniques or technology freely available within a business.

o   When everyone in a business shares their knowledge, quicker and better decisions can be made.

o   It allows the sharing of successes to be shared and the responsible staff to be commended.

o   It allows problem-solving techniques to be freely shared throughout a business, even internationally. This saves having to work out the same solutions over and over and over again throughout your business.

o   It exposes everyone to the skills on offer throughout the business. These skills can then be utilized to maximum benefit.

o   You can use your knowledge management system as a marketing tool. Customers will be able to see that you are able to quickly utilize the complete skills and knowledge within your business to their benefit.

Future trends in KM

Software knowledge management tools are improving all the time while becoming more affordable at the same time. Concepts from social media such as Twitter, Instagram, Snapchat and Facebook are beginning to be used by knowledge management software developers. These concepts can provide easily understood tools for employees to share their ideas to benefit the business.

The constant development of new technology is allowing better use of apps for communication and software developers. The increasing use of smartphones and mobile technology allows exciting new apps to be developed which can increase the effectiveness of knowledge management.

When knowledge management is implemented well, it brings improved communication and sharing of knowledge throughout a business. It helps improve employee performance, gives greater client satisfaction and improves the quality of service they receive.

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