What is …. ?Knowledge Management is the explicit and systematic managementof vital knowledge - and its associated processes of creation,organization, diffusion, use and exploitation. - David SkyrmeExplicit – Surfacing assumptionsSystematic – Well organizedVital Knowledge – Need to focus [“Resources are scare”]Processes – Set of defined activities and tools
Knowledge…. What is it ? Tacit Explicit What you know… Other sources of info.
The Essentials….Customer Knowledge - About our customerKnowledge in Process – Applying best know-how in jobKnowledge in Products & Services – Smarter Solutions to match demandKnowledge in People - Nurturing & Harnessing Brain powerOrganizational Memory – Drawing on lessons from past experiencesKnowledge in Relationships – Deep personal knowledge & collaborationsKnowledge in Assets – Measuring & managing intellectual capital
Critical Success Factors…Knowledge LeadershipClear Business BenefitsSystematic ProcessesA Knowledge Sharing CultureContinuous LearningAn effective information and communications infrastructure
Connecting to Knowledge…Knowledge BriefingsRegular UpdatesTools and ResourcesKnowledge Management ResourcesNavigation Aids
Facts need to know…About Your Organizational ContextAbout CommunicationsAbout Information and KnowledgeAbout Intellectual CapitalAbout Information and Communications TechnologiesAbout Innovation and CreativityAbout Human Resource ManagementAbout Intangibles
Myths About …Its NewIts a FadIts Just About Continuous ImprovementIt Must Be Led From the TopTheres no obvious pay-backKnowledge Centres are Libraries RelabeledThe Best Ideas Are Generated in the Office
Making it work… How ? Better sharing of Creating new knowledge known knowledge
Knowledge into Practice Knowledge database Knowledge mapping Groupware / intranets Knowledge centres Knowledge webs
Success Stories – Nokia… Driving Factors Ability to innovate Maximizing intellectual assets Promoting customer value and loyalty“Creating a knowledge culture focused on learning, which encouragescreativity, innovation and renewal.”
Success Stories – Scandia… Driving Factors Contribution of managing knowledge to generating shareholder valueChampion of value creation and is one of the leading proponents ofmanaging intellectual capital“Believes that it is the responsibility of each employee to be activelyinvolved in value creation.”
Success Stories – Commerce Bank.. KM solution was based on…. More than 250 workflows Knowledge Base and other KM tools based on LotusKM StrategyEvaluate e-mailsEvaluate integrate calendaring & intranet functionality ofNotes & Domino.Evaluate bank processes and KM processes
Success Stories – Commerce Bank..Business BenefitsShortened transaction approval processes by 50%Immediate response on customer query.Improves intra-company communicationHR workflow search on jobs, compensation, sharing HRinformation.Finance w/f helps to enterprise-wide teller recap/recon..& roll up.
Thoughts…“You cant see it; you cant touch it; yet it makes you rich” -Tom Stewart“Not everything you count counts, and not everything thatcounts is counted“ - Einstein
What is it… ?Intellectual capital includes assets such as brands, customerrelationships, patents, trade marks and, of course, knowledge
What is the worth of it… ?Can we measure this…. ? [ Intangible Asset ]If “Yes” then how to value …. ?
The Pressure to MeasureTruly reflect the net asset value of the CompanyThe Growing demand for the intangible assets in the market.“What‟s get Measured gets managed better”It supports a corporate goal of enhancing shareholder valueAttractive information for the potential and existing investors
Meaningful MeasurementsHuman CapitalStructural CapitalCustomer Capital
New Types of Measurements "If youre not keeping score, youre only practicing"Balance Score Card by Kaplan & Norton [Measures ofCustomers , Innovation & Internal Processes, Learning & Growth]Economic Value Added by Stern Stewart [ROCE & Market ValueAdded]The Scandia Navigator – Balance Score Card + Value CreationModel.Intangible Assets Monitor by Karl Erik Sveiby [External &Internal Structure and People Competencies]Intellectual Capital Index –
Guidelines for SuccessAwareness and understandingCommon Language.Indicators.Measurement ModelMeasurement SystemsProcess"You need good mental models, before you can develop good management models"
Information Resources Management [IRM]“Drawing in data, yet starved of information” Ruth Stanat [„The Intelligent Organization‟]
Are we overloaded with data….?Thousands of web sitesCDs‟ / Online LibrariesNewsletters / Subscriptions / e-mailsReceiving data from Mobile mediaMeetings / DiscussionsBusiness Broachers / LeafletsAudio / Visual media
So what’s happening…?“We don‟t have vital information for Management DecisionMaking”“Organizations‟ fail to recognize information as a strategicresource” We So much Data Scattered Have Un-presented
Then what we want Information The Place Format Right Time
Key activities in IRMIdentification - What Information is thereOwnership - Who is responsible for different informationentities and co-ordination?Cost & Value - A basic system for making judgments onpurchase and useDevelopment - Increasing it‟s value or stimulating demandExploitation - Proactive maximization for value for money
Benefits of implementing IRMStrategyIdentifies gaps and duplication of informationClarifies roles and responsibilities of owners and users ofinformationProvide costs saving in the procurement and handling ofinformationIdentifies cost/benefits of different information resourcesActively supports management decision processes withquality information
Key issues addressed by IRMStrategicOrganizationalStructuralSystemHuman
How to manage information as astrategic resourceUnderstand the role of InformationAssign Responsibility for Leading your IRM Initiative.Develop Clear Policies on Information ResourcesConduct an Information Audit (Knowledge Inventory).Develop Appropriate Technological SystemsIntroduce mining and refining processes.Optimize your information purchases.Mix hard/soft, internal/external.Systematic scanning.Encourage a Sharing Culture
K-Commerce “Trading Knowledge via electronic networks”In Practice…Knowledge Intensive Products & ServicesInternet as a Strategic Business opportunitiesE-Commerce – Splitting explicit knowledgeMarketing – Improving the quality of relationship marketing.
Benefits & OpportunitiesDifferentiationNew revenue streamsIncreased ROI on scare skillsIdentification of new opportunitiesGenerate market reach
How to Success…Act Fast – ProactiveUse existing knowledge initiativesAdd human touchInteractive web sites
How to convert knowledge intoProducts/ServicesBest practices to Best Practice databasesExpertise directories to Consultancy TeamsIntellectual assets to IPRIntranets to ExtranetsDomain know-how to Expert systems / consultancyInternal Communities to Membership Communities.Customer Knowledge to Customer DatabasesKnowledge centers to Advisory services