Knowledge management is about managing knowledge processes that are crucial for business operations. It involves creation, collection, dissemination, use, and organization of information. Knowledge management can be used either for the distribution or for use of existing knowledge or for the creation of new knowledge. Knowledge management programs involve developing knowledge collection, access to the knowledge, and a control mechanism for checking abuse of the knowledge.
Advantages of Knowledge Management Systems: The need for knowledge management services emerged as a necessity due to the haphazard growth of information, decision support issues, data integration, and many other issues. We discuss why knowledge management services are not just advantageous but also crucial for any business.
1) Globalization: In the era of globalization, knowledge is no longer limited to a special domain. It is diffused and stored in many different locations. To succeed in your business, you need to locate, store, and organize knowledge properly.
2) Profitability: Knowledge, if properly packaged for relevant applications, is highly valuable. Companies pay a lot to obtain know-how that they can use to boost the cash flow.
3) Business Restructuring: If changes are made in the organization model of the business, some of the knowledge gathered over the years may be lost in the restructuring process. Knowledge management services help organizations store crucial data.
4) Experience: Companies can benefit greatly from the knowledge of older employees and put it to use in similar experiences.
Knowledge Management Process: All knowledge management services follow roughly the following procedure to set up a comprehensive knowledge management system.
1) Delegating Responsibility to Knowledge Manager: A knowledge manager creates and coordinates with a multidisciplinary team to gather and develop knowledge.
2) Developing Knowledge Centers: A knowledge center develops strategies, expertise networks, and financial data planning.
3) Access: Companies need to regulate access to knowledge, both to check misuse of knowledge and to ensure that the right information reaches the appropriate people. Knowledge management services help companies with this issue as well.
Knowledge Management Strategies: Ideally, knowledge management strategies should enhance the knowledge collection, sharing, access, and use. This can be accomplished if:
1) The knowledge manager is committed to good knowledge management practices and can coordinate and motivate his team.
2) The knowledge management team has the support of the managers and other employees.
3) Clearly stated goals are very important if you want good knowledge management services.
4) Recognizing and rewarding good work is important, since it motivates the knowledge management team to reach higher.
Knowledge management services can enhance the bottom line; making it crucial for companies to hire knowledge management services from the outside if they have no internally appointed knowledge manager. Knowledge management services will put existing knowledge within reach of the right people and encourage creation of new knowledge.
Alexander Gordon is a writer for http://www.smallbusinessconsulting.com - The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.
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