2. Basic Terminology:
Data: ”Facts and figures which relay something specific, but which are not
organized in any way and which provide no further information regarding
patterns, context, etc.”
Information: For data to become information, it must be contextualized,
categorized, calculated and condensed (Davenport & Prusak 2000).It is
processed data with relevance and purpose.
Knowledge is a familiarity, awareness or understanding of someone or
something, such as facts, information, descriptions, or skills, which is acquired
through experience or education by perceiving, discovering, or learning.
4. Knowledge Management:
“Knowledge management is the systematic management of an organization's
knowledge assets for the purpose of creating value and meeting tactical & strategic
requirements; it consists of the initiatives, processes, strategies, and systems that
sustain and enhance the storage, assessment, sharing, refinement, and creation of
knowledge.”
Importance:
Knowledge management is responsible for understanding:
What your organization knows?
Where this knowledge is located and in what form ?
How to best transfer/use this knowledge to relevant people?
8. Knowledge Management Process:
Discovery &
Detection
Organization
&
Assessment
Sharing
Reuse
Creation
Acquisition
Storage & Usages of Knowledge
I.e. “classify, map, index, and
categorize knowledge for
navigation, storage, and retrieval”
Ability to create new
knowledge from Existing
Knowledge; Provide
competitive advantage
to Organizations
knowledge that a firm
can try to obtain from
external sources.
10. Knowledge Management Tools:
Groupware systems
The intranet and extranet
Data warehousing, data mining, & OLAP
Decision Support Systems
Content management systems
Document management systems
Artificial intelligence tools
Simulation tools
Semantic networks
Cross-functional project teams
KM training & education
Storytelling
Mentoring
Case Learning
IT Based
NON-IT
Based
11. Why Knowledge Management Fails?
Casual Factors:
Lack of performance indicators and measurable benefits.
Inadequate management support.
Problems with organizational culture & Structure.
Resultant Failure Factors
Lack of widespread contribution
Improper implementation of technology
Improper budgeting and excessive costs
Lack of responsibility & Ownership
12. Benefits of Knowledge Management:
Reduce the loss of Intellectual Capital.
Reduce the cost by achieving economy of scale.
Gain a competitive edge over competitors.
Promote Creativity & Innovation.
Increase Productivity.