Ideas & Insights
Paywings's perspective on Payroll & Related
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Knowledge management is defined as the art of creating the values from an organizations intangible assets. It is the process of gathering, managing and sharing effectively using employees knowledge throughout the organization. It is concerned with the development and exploitation of the knowledge assets of an organization with a view to promote the knowledge objectives. It is basically active and people need to have access to the right information at the correct time.
Knowledge management needs to be proactive, closely integrated with business processes and fundamentally related to regular operational activities and now a days it has become a mainstream priority for organizations of all sizes . Specific knowledge management activities helps to focus on organization for acquiring, dynamic learning, storing and utilizing knowledge for problem solving, strategic planning and decision making. Knowledge management is a study of ‘intellectual assets’ that highlights unique sources, critical functions and potential bottlenecks, which prevent knowledge flows to the point of use. The systematic process of searching , selecting, organizing, distilling and presenting the information improves an employee’s comprehension in a specific area of interest.
The following can be expressed as Knowledge Management lifecycle:
Knowledge generation: Creating new knowledge by changing and evolving knowledge based on your education, experience, and gathered information from others.
There are five modes :
Knowledge codification: Converting knowledge into accessible and applicable formats is called Knowledge codification.
Basic principles to codify knowledge:
Knowledge transfer: It is nothing but sharing of knowledge. This means recording videos and feeding data into a database with access methods. It can mean fostering networks of people for creating and sharing knowledge and knowledge maps shows , who has expertise on what.
There are two different tools for the knowledge management :
Needs of Knowledge Management:
Knowledge management needs to consider the three related elements, those are processes, people and technology. These tools typically provides a secure central space where customers, partners, employees and suppliers can exchange information, share knowledge and guide each other to take good decisions for the organization development
People: This component has greater challenges. The biggest challenge in Knowledge Management is to ensure participation by the people or employees to maximum extent in the knowledge sharing, collaboration and re-use of knowledge to achieve business results.
Process: The Process component include standard processes for knowledge offering, content management which consists of accepting content, maintaining quality, keeping current content, deleting and archiving content that is obsolete, knowledge retrieval, membership on communities of practice, implementation of projects based on knowledge reuse, methodology and standard formats to document case studies and best practices, etc. It is important for processes to be clear ,simple and well understood by employees across the organization.
Technology: Knowledge Management technology solutions provide functionality to support knowledge sharing, workflow, collaboration, document management across the enterprise and beyond into the extended enterprise.
Web-based Information Technology Tools for Knowledge Management:
Web offers a very powerful platform for tools which supports all stages of Knowledge Management. The web allows for an unprecedented degree of integration of different representational and communicational media.
Knowledge Management assets and processes:
Knowledge Management assets:
There are six assets in an organization
1) Stakeholder relationships: It includes licensing , partnering , distribution of agreements and contracts.
2) Human resources: It includes skills, competence, commitment, motivation and loyalty of employees.
3) Physical infrastructure: It includes office layout , information and communication technologies such as databases, e-mail and intranets.
4) Culture: It includes organizational values, employees networking and management philosophy.
5) Practices and routines: formal or informal process manuals with rules and procedures ,which often refers to “the way things are done around here.
6) Intellectual Property: It includes everything like patents, copyrights, trademarks, brands, registered design and trade secrets.
Knowledge management processes: It maximize the value of knowledge assets through discussions, collaboration and knowledge sharing. It also gives awards and recognitions to people’s contribution. Process includes generation, codification , application, storing, mapping, sharing and transfer of knowledge. All these processes together can be used to manage and grow an organization’s intellectual capital.
The main idea of Knowledge management involves creating, codifying and sharing knowledge. Good knowledge management strategy will identify the nature of existing status of the organization. Successful implementation of knowledge management implies that it becomes a self sustaining cultural aspect of your organization. The methods should not be simultaneously applied, as it is important to begin with small steps that will lead to initial successes.Finally, once a decision has been made to outsource aspects of a business, certain knowledge management strategies can be implemented that will maximize the benefits that are available from a decentralized business model.