Is Knowledge Management here to stay?

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Knowledge Management comprises a range of practices used by organisations to identify, create, represent, and distribute knowledge for reuse, awareness and learning. A true KM helps achieving the flow process of Data, Information, Knowledge, Wisdom and Innovation for the overall objectives of the organisation. Knowledge has to be made explicit from tacit or in other words tacit knowledge we have in our heads have to be codified into explicit knowledge that can be used by others in the organisation. What does KM give the organisation? Competitive advantage is the first thing that comes to mind. It improves operational efficiency, innovation in the work place, better process, faster learning and knowledge access across the organisations.

Online corporate yellow pages or expertise locators and document management systems are the most preliminary forms of knowledge management, however with information technology providing better tools the capabilities of KM are increasing. Blogs, intranets and wikis have also added to possibilities of KM tools. More than 2500 Information Management software have come up for KM solutions from expertise location, document management, email integrators, collaborative software, content management etc.

For a successful KM process, it is important that KM has to start from top. The management should be interested in evangelising the KM process in the organisation. Each of us in the organisation also can evangelise KM by the inculcating behaviours such as:
Sharing,
Dialogue,
Best Practices and
conducting After Action Reviews.

How do we get business values through KM? Following are the steps by which we can go about getting business values through KM.

Identify the business objective.
Understand the overall business context.
Understand your organisational dimensions.
Identify specific KM initiatives.
Identify the barriers and risks.
Implement.
Involve everyone.

Is KM here to stay? Yes, KM is indeed an important part of any organisation that wants to be a leader in its domain as it enhances the value of the intellectual capital, the intangible assets of the company that contributes to its valuation. It’s not a fad that will die off in five or ten years, However the key to success is not in the Knowledge Management system but what people make of it.

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